Public sentiment regarding the recent GST reforms is predominantly negative, with widespread skepticism about the government's true intentions and the likelihood of companies passing on potential tax benefits to consumers. Many commenters view the timing of the reforms as politically motivated due to impending elections, leading to frustration over past government inconsistencies.

Indian Government

Finance Ministry

Businesses/Companies

You can raise a complain and they will be penalised 

As per section 171 of cgst act, (anti - profiteering clause)

VastAd4782

Yesterday, Finance Minister Nirmala Sitharaman spoke about anti-profiteering after the GST rate cuts. She said that even though the National Anti-Profiteering Authority has been disbanded, the law under Section 171 of the CGST Act still exists, which means any tax reduction or input credit has to be passed on to consumers through lower prices. She also said the government expects businesses to comply and that the CBIC will work with industry to make sure of this. Guidance will be issued for goods already in stock so businesses can claim credit for the lower tax. The government is also thinking about temporarily bringing back anti-profiteering measures to stop companies from keeping the benefits for themselves.

[deleted]

LordSerizawa

We can hope that at least one company would strategise on the lines that if others will increase their prices they would keep as it is so that market share will shift more towards them.

Adventurous-Star1309

During initial rollout, they did keep an eye on companies and prices of products. A few small companies will still take advantage, but national level companies whom we interact with daily, won't take advantage and are expected to pass on the benefit to consumers.

Just make sure you keep an eye on local products/companies, and escalate any discrepancies noted. I'm sure they will share a helpline to report such cases, else you can always raise it on twitter. Only one such post needs to go viral for govt to take action.

tanmay1812

Companies can decide the price of their product; there is no law to stop them. When the Goods and Services Tax (GST) is decreased, these companies, which understand pricing strategy very well, might actually increase the product's price.

Important_Win6635

taznado

The GST cut is just a way to push up domestic consumption to counter the economic loss due to the tariffs. These are not some "GST Reforms" that the government was planning. If you read reports from Surat, Tripur and other major export hubs, they are estimating millions of jobs lost due to tariffs. So the government wants to give a push to local consumption to preserve the industry and weather the coming economic storm. Now whether the producers reduce prices will depend on the demand uptick they see in the festive season. If there is no uptick, they won't increase prices. My guess - there would be an economic slowdown in the coming 12-24 months as the tariff impact takes hold in the export hubs and spreads outwards. The govt will ramp up public expenditure on infrastructure to maintain GDP growth, but on the ground, people will suffer job loss and income loss.

stoikrus1

Companies will cry input credit loss… and increase the prices..

GhostingIsWhatIDo

Yeah… diwali gift… is like all mighty modi is handing a lolipop to us… fuck you

Turbulent-Lettuce335

Idk about this but Like ethanol case, the prices of products will be same and companies will get profit out of it?

Accurate-Spell-1305

I can't speak for others, but after years of being weighed down by a high and poorly executed GST, calling a mere promise of partial reform a '**Diwali Gift**' feels deeply patronizing.

Lonely_Grass_555

2 is better than 4. Definitely better than what we have now with 4 slabs.

blackbird373

Good reforms but calling it a Diwali gift is stupid. 

You don’t get to charge stupid tax rates, lower it, and then take credit for it.

5TrainCrackhead

240 seat ka kamal hai.... 1-2 saal aur ruko fir Ethanol scheme bhi roll back karenge....

satvik1059

Public_Compote_4326

north_Vast_9566

Apart from 40% tax on above 4m cars, i am happy.

rahulswami01

My views will come with details - is anything else not mentioned here goes to sin tax of 40%.
I) Branded clothing, perfume etc
Ii) common family vehicles like ertiga, Scorpio and carens.
III) electronics and smartphones 
IV) fridge, washing machines
V) Hotels, entertainment, beauty parlours etc

I don't want to commit sin, by going for a movie . I know I am being sceptical but with BJP the devil is always in details. They won't loose GST, but will spin the news till Bihar election.

quantum_kalika

Long overdue, what we had was tax terrorism

the-brownian

Why is BJP celebrating it aise jaise they weren't the ones to bring it in the first place

shotemdown

VastCryptographer980

But the sad reality is, once product prices are up it never decreases for countries like India where items are sold tax included. Companies can get away with this.

dr2k01

Maxevill

Snoo-67601

Taxes should be based on the size of the engine and not 4m. That rule should have been scrapped off which would benefit car buyers of skoda and VW like car makers which provide 1L engines. Now there is no incentive to buy a smaller engine

TransitionOpening622

![gif](giphy|3oriOcw1etfsYakQG4|downsized)

LowPoem1973

Gift? Look at their audacity. Like they’re doing us a favour. Nikaalo inn logon ko koi. Shameless

Square-Sock5411

Bhai ismein bhi kuch golmaal hoga, Itna seedha hota nahin hai jitna nazar aata hai.
Ye BJP hai, bhot ha***mi cheez hai

mogunshogun

The gov will lose a lot of money for the cuts what more u want.

rrevvv


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AutoModerator

Any sane person would hypothesize an increase in income tax on the upper echelon.

Outrageous_Theory486

I think the govt should lose more revenue given that they have enough to maintain key industries,infra and army. Cost cutting can start with politician and govt salaries. Govt should stop all it's loss making ventures.

lazycringer420

Good they don't give us anything anyways.

ShelterStriking1901

Government is not a business. It was not a loss but investment in the economy of the nation.

bikbar1

Even if govt has that much money it will be given to contractors who build bridges and roads which collapses in few days. Now it will be better spent by people.

Aware-Manager3954

What is wrong with these news people?? How is it a loss...Govt. ain't a fucking business entity...who will change their perceptions

Pristine_Weather2195

Why not stop corruption instead of looting us so much

DecadeZio1020

There is an easy solution, tax the rich. 

Tax the bcci, tax the corporates, tax these rich ahh temples that definitely do not give back to the society, tax the shit out of people who wanna buy houses that is way out of reach, tax the Uber rich "farmers" who just own a bunch of vineyards.

ivecomebackbeach

vizot

They should have added the decimals .00 also to make the loss look bigger. Last FY GST collection was 22 lac crores. If the govt loses 3700 crores, that's a meagre 0.16%. These exaggerated headlines are to give an impression that govt has made some huge sacrifice to save the public. In reality it's minuscule benefit to public, that too assuming some benefit will be passed to public which I doubt. [https://www.thehindu.com/business/Economy/gst-reforms-will-cause-3700-crore-revenue-loss-to-government-sbi-report/article70015331.ece](https://www.thehindu.com/business/Economy/gst-reforms-will-cause-3700-crore-revenue-loss-to-government-sbi-report/article70015331.ece)

fyiIamWorkInProgress

They can tax the billionaires more to make up for it.

alreadypicked

all those GST already collected may be used for several years I guess… so I don’t think it’s any loss actually

piratekhan

How about politicians stop sending their offsprings abroad for education and have them study here in our world class vishwaguru level schools and colleges. The govt can save so much money then.

Key_Seaworthiness_18

STOP making stupid expressways and roads for your Fkin corruption and The economy would do fine

Federal_Initial4401

Jaisa aadmi andar hai, loss me jaane nahi wala. Sab news fake hai bhai.

3310_sumit

That is around 5% of total gst collection. No big deal

Critifin

Good. No more ladli behna cash for votes. Now the real progress will be priortised.

SensibleIndian_

I feel lately the public backlash on several matters related to governance, citizens rights etc has made a dent on the ego of the government and they are on a correction route. Hopefully the public continue to demand accountability

kaisadusht

Proud_Tale2068

The Union Finance Minister announced significant reforms to the GST intended to benefit the poor and small businesses, changing the tax structure.

GST Reforms in India

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