We in India are on the threshold of a major change in our Goods and Services Taxation system. The GST is coming into operation at the dawn of Saturday,the 1st July 2017.
The change over is considered as one of the biggest taxation reforms that India is attempting after independence.
There is naturally the fear of the unknown that it is a system that could have some snags as the system rolls out.
It is however a speculation and we donot know if it actually can roll out smoothly much to the discomfort of the opposition political parties.
There is no doubt that there is a concern about the IT system and whether the platform will remain robust. There is also concern about Information Security.
But the Government has to take bold moves if we need to move forward and we need to keep our fingers crossed and do our best to meet the difficulties that we may face during the next couple of months when the system gets stabilized.
The biggest problem has been the attitude of some of the businessmen supported by the political parties who are opposing only for the sake of opposing. So far most businessmen are used to seeing the Governments dithering and procrastinating when it comes to taking some difficult decisions and they are surprised that here is a Government which seems to do things which we donot expect them to do and even if we think they will do, we donot think they will do as fast as they have done.
The political parties like Congress, TMC and Communists are irrelevant in the context of nation’s development since they would be happy if India does not progress.
This forum will try to provide analysis of information as they unfold so as to make more and more people aware of the nuances of the new law that is making a significant change to our economy.
Naavi has been a Banker and has been close to the Financial Services industry during a good part of his career before embracing the Cyber Law and Information Security regime. However GST appears to be a Techno Financial domain which requires a huge effort in dissemination of knowledge particularly in the first few months of its implementation. The Government of India is doing its best through its own resources. However, we want to add our effort into this education exercise and hence this website.
It is possible that the GST related knowledge will evolve over a time and there could be errors and omissions in the presentation of information in the site. We will make our efforts to reduce the errors and correct mistakes where necessary.
I invite taxation experts to contribute their thoughts also through this blog.
I look forward to the support of all Techno Financial experts in making this effort useful to the community.
P.S: Site is under construction