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GST's Impact on Aam Aadmi's Spending
Jul 1, 2017

Finally, India's biggest tax reform - Goods and service Tax (GST) is a reality. Yes, after a lot of speculation around the timely implementation, GST has been rolled out.

As we have saying, GST is a much-needed economic reform. It should eventually expand India's narrow tax base and increase government revenues.

That said, every coin has two sides. GST is no exception. It will have its fair share of chaos in the coming months. There could be protests across the country over tax rates and compliance burdens and it could affect the smooth functioning of the economy.

While GST will impact businesses and industries in a big way, it won't directly affect the salaried class and self-employed personnel (Aam Aadmi). Since it is an indirect tax, it does not change the way they pay their personal taxes. The only impact they will see would be due to the change in rates of the goods and services they avail.

Data Source:

This Chart Of The Day was published in The 5 Minute WrapUp - The Puzzle that Puzzled the Most Brilliant Minds...and its Implications for Investors

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