Workshop on GST

"Europe has 24 countries and a common market, while India has merely 24 states and different markets in to each state."

The introduction of the new taxation system of Goods and Services Tax has led to commotion and confusion in the country, with the increasing and decreasing prices of different articles. To clear this mayhem in the minds of the students and to enlighten them, Mr. Anirban Bose, subject- expert, was invited to speak with the students of classes 11 and 12 on 28 July, 2017.

Mr. Bose is a business manager by profession with 36 years of experience of working in manufacturing and service industries. A keen watcher of the contemporary economic scenario he has been following the progression of GST as a revolutionary tax reform in the history of India. GST is a comprehensive tax on the manufacture, sale and consumption of goods. Mr. Bose covered various aspects of the new system and talked about the history of taxation in the Indian economy and what GST looks like from an Indian citizen's point of view.

The problems of multiple rates, multiple procedures of compliance, and uncertainties in the former tax system led to the need of GST, he said. It replaces indirect taxes and aims to create a common market throughout the nation in order to enhance the efficiency of the taxation system, increase transparency, prevent tax evasion and correct the problem of the cascading effect of taxes. Hereby GST reduces the final impact of tax on good and services for the consumer.

With his rather informative presentation, Mr. Bose explained not only the different types of GST, but also how it fills in for the loopholes of the previous system.

The workshop was very informative as Mr. Bose cleared our doubts and answered our queries patiently. We look forward to many similar opportunities in the future.

Mallika Mukim.