Eminent jurist Arvind Datar has delivered a talk in which he has severely criticized the introduction of Goods & Service Tax Act (GST), GAAR and POEM. He has argued that these legislative measures will cause enormous hardships to the taxpayers and will make India a less attractive destination for foreign investors. He has given cogent reasons in support of his propositions.
So very true and bold by the genius. The combined effect of multiple legislations and overruling judgements by way of amendments ( Finance Act 2017 ) coupled with POEM, GAAR, RERA, Benami etc and esp the implementation or fear of hi pitched implementation is taking away the sheen and entreprenual spirit of businessmen who essentially may feel that is it a SIN to be a businessman in India. Truly taxes and bureaucracy are saying Quit India
Arvind Data speaks his heart out.
99% of the consultants community are trying to expand their practice and the devils of GST, though in known are allowed to be paved on.
I do agree with these views which are certain to happen.
Agreed. GST is being picturused as a panacea for all evils. may be if GST is implemented in its true spirit – one single tax across India it would have been ease of business, tax payer friendly & smooth compliance. unfortunarley it is simply old wine in new bottle – we continue with 29 SGSTs, 1 CGST, 3 UTGSTs, 1 IGST act, Rules, way bill to continue, input credit restrictions to continue, matching credits, enormous compliances, huge system support – so what is all the hype about? It is the biggest nightmare for every taxpayer & defenitely no ease of business. It is painted a rosy picture, but full of thorns that is going to make business very difficult & taxpayer to suffer enourmous hardship.