April 2021 set a new record India. How much effect in Indian economy?

[sujoy12]

April 2021 set a new record of Rs. 1,41,384 crore in GST collection in india.
Despite the second wave of COVID-19 pandemic effecting several parts of the country.
Indian business have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month.
     The finance ministry said in a statement.

 IT good for county economic?

[bryant.coleman]

India has one of the worst economic models in the world. Only around 2% of the population pays income tax and these people are treated like untouchables in India. The so called "salaried class" is not regarded as a powerful voting block, and therefore they have to deal with ever increasing taxes with every passing year. The increase in GST collection shows that the economy is in good shape despite the pandemic. People are working from home, and therefore able to save more money. But the model will not remain sustainable for long, if the government fails in expanding the tax-payer base.

[Sterbens]

it is terrible that what is currently hitting India, we can hardly believe the phenomenon, where they are deprived of oxygen to breathe fresh air.
today I got the news that my brother who has been working in India since 2018, gave the news that he was being treated in an improper hospital. not because the service is lacking. it's because it's full of patients trying to get into the drug.
The impact of this crisis can no longer be tolerated, the economic downturn in India is adding to the instability. Stores began to be looted, and this was dire for the economic situation in India.
hospital raise their hands, they are really overwhelmed.

[Gozie51]

it is terrible that what is currently hitting India, we can hardly believe the phenomenon, where they are deprived of oxygen to breathe fresh air.
today I got the news that my brother who has been working in India since 2018, gave the news that he was being treated in an improper hospital.

This kind of information is what you can always get from third world countries which India is classified as too. No proper salary renumeration for workers and the government always think of themselves and family members. This is unfortunate thing that happens in those part of the world.

In the case of India, I use to read of it having a fairly good health care system and most of the African countries go on medical tourism to India. This is suppose to be a very good source of income to India if they manage that well.

[fiulpro]

Business? What do you mean by business?
What's happening in India right now is honestly so sad. Companies and individuals alike are getting profited from the sick patients and their families. A simple oxygen cylinder is getting sold at 70k!!! People are selling remdesvir for 30k!! Which is supposed to be close to 900 inr!! Plus this is not even the worst case scenario. If you are sick, you are advised to go to the hospital and the hospitals and the doctors are literally taking so much money from the patients. Ofcourse this is not everyone and every company but most of them are getting profited immensely! Doing such things. The Government is unable to help their own people. I would not vouch on these figures for long. People are actually becoming rich by owning a medical related business but that's mostly Corruption.

[mersal]

April 2021 set a new record of Rs. 1,41,384 crore in GST collection in india.
Despite the second wave of COVID-19 pandemic effecting several parts of the country.
Indian business have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month.
     The finance ministry said in a statement.

 IT good for county economic?

India collected world record tax just because of their high tax rate and tax for everything not from any improvement in their economic improvements in their infrastructure. Even most of the economists accepted that the implementation of GST in India killed a lot of small business and also mentioned by the articles all over the world. This is an example to the world of what will happen when you give powers to illiterate people as leaders.

[Sithara007]

India collected world record tax just because of their high tax rate and tax for everything not from any improvement in their economic improvements in their infrastructure. Even most of the economists accepted that the implementation of GST in India killed a lot of small business and also mentioned by the articles all over the world. This is an example to the world of what will happen when you give powers to illiterate people as leaders.

I have to disagree here. Previously the small merchants were not paying taxes and now after the implementation of the GST they need to do that. And why should they be exempted from tax? These people were literally robbing ordinary citizens by charging a margin of as much as 100% or 150%. And actually the problem for smaller merchants was the entry of online shopping sites such as Amazon and Flipkart, and not GST. These e-Commerce sites charge a margin of only 4% or 5%, so naturally people prefer them over the smaller shops.

[zanezane]

India has one of the worst economic models in the world. Only around 2% of the population pays income tax and these people are treated like untouchables in India. The so called "salaried class" is not regarded as a powerful voting block, and therefore they have to deal with ever increasing taxes with every passing year. The increase in GST collection shows that the economy is in good shape despite the pandemic. People are working from home, and therefore able to save more money. But the model will not remain sustainable for long, if the government fails in expanding the tax-payer base.

I am not sure whether the old class hierarchy is removed or not because people around the world share stories on the Internet about how they can't be with someone because they are of different classes. I am not an economist so I can't comment on their economic model but I am sure that they will be able to make something out of it because they have a growing population and they have to utilize that to collect taxes.

[bryant.coleman]

I am not sure whether the old class hierarchy is removed or not because people around the world share stories on the Internet about how they can't be with someone because they are of different classes. I am not an economist so I can't comment on their economic model but I am sure that they will be able to make something out of it because they have a growing population and they have to utilize that to collect taxes.

Tax liability needs to be on the same level for everyone. When I travelled to India, I was surprised to see rich farmers who roam around in BMWs and Audis pay zero tax (because farming income, without any upper limit is 100% tax-free). At the same time, there are these "salaried class" losers who pay up to 43% of their income in direct tax and more in indirect taxes (GST on software exports, labor tax.etc). These people are the most pathetic bunch. They have to pay half of their income as tax, and even after that they have no influence in the government. Here in Singapore, almost everyone pays tax. It doesn't matter whether you are a farmer or a software engineer.

[zanezane]

~

Tax liability needs to be on the same level for everyone. When I travelled to India, I was surprised to see rich farmers who roam around in BMWs and Audis pay zero tax (because farming income, without any upper limit is 100% tax-free). At the same time, there are these "salaried class" losers who pay up to 43% of their income in direct tax and more in indirect taxes (GST on software exports, labor tax.etc). These people are the most pathetic bunch. They have to pay half of their income as tax, and even after that they have no influence in the government. Here in Singapore, almost everyone pays tax. It doesn't matter whether you are a farmer or a software engineer.

That is the dream of many farmers in my country, it is the opposite here. I don't like the idea that paying taxes is unequal so I quite feel bad that farmers don't pay their taxes but I hope that they do some changes and tax the right people because the working class is going to suffer with these taxes. Singapore is a good country although as far as I know they are the most expensive country.

[quocsi]

In April 2021 India broke the discipline for the number of people who got sick and died about covid 19. This is a terrible thing. It causes the Indian economy to weaken. Hospitals were overloaded, medical equipment was not enough to provide the people. I hope the rich countries of the world will join hands to help the Indian government.

[sheenshane]

April 2021 set a new record of Rs. 1,41,384 crore in GST collection in India.
.
.
 IT good for county economic?

That’s very good to hear.
However, with the scaling IT companies have I’m afraid that the tax has been reduced ultimately in a legal way.  It might Indian Executives already knew how to play the game.

That’s why having an accountant in a team is very effective (a clever one).  Filing return requirements and paying GST have to be done by professionals to be effective and to avoid penalties.

But on this type of structure?
I don’t think this will become consistent and India must be prepared after the pandemic instead and see what will happen.

[doomistake]

The pandemic situation in Inda has been worsening each day. They're having a very hard time controlling the spread of the virus, hence the increased rate of covid-19 cases in their country. Based on the news and articles I've read online, the fatality rate are also going up each day. The deaths keep going higher as time passes by and its absolute and official record isn't up to date due to continuous spike of deaths.

The oxygen supplies in India is also a big problem. They lack oxygen tanks that are needed by the covid-19 patients. A lot of donation drive have been circulating online to help India. They are very desperate for help that some people's only option was to buy oxygen supplies illegally such in black markets. The mass cremation was also done because the crematoriums can't accommodate so much. They mass cremate the bodies on a vast vacant lot using fires.

This crisis will definitely take a toll on the economy of India. The business will have a hard time to recover given their current situation there now. Because of their situation, the working class will have limited movement due to safety precautions. Slow and weak industry operations will soon lead to economic decline if they won't be able to address and response accordingly.

[Sithara007]

The GST collection has increased only because of the growth in the ITES sector. All the other sectors are showing a downward trend as far as GST collection is concerned. And ITES remains as the most demonized and unorganized sector in India. They bring valuable foreign currency and tax revenue for the government, but in return they hardly get anything. Unlike the other sectors, the ITES industry is not organized and therefore doesn't have any collective bargaining power. As a result, those working in this sector migrate to the western nations, whenever they get the opportunity.

[Chato1977]

April 2021 set a new record of Rs. 1,41,384 crore in GST collection in india.
Despite the second wave of COVID-19 pandemic effecting several parts of the country.
Indian business have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month.
     The finance ministry said in a statement.

 IT good for county economic?

even How good indian Economy goes well Yet we cannot deny the fact that the government specially in banking sector is against crypto and the Issue of banning never stops even a little so what can crypto do good towards Indian people and Indian Economy?

[Vishnu.Reang]

even How good indian Economy goes well Yet we cannot deny the fact that the government specially in banking sector is against crypto and the Issue of banning never stops even a little so what can crypto do good towards Indian people and Indian Economy?

Rather than the politicians, it is the bureaucracy which is pushing for the ban. Here in India, people have a feeling that the politicians are responsible for most of the troubles and they are the most corrupt bunch. But in reality, that is not the case. The most corrupt branches in India are the bureaucracy, administration (IAS/IPS), the judiciary and the police. Compared to them, the politicians are much better. And it is not very surprising that the bureaucrats are up in arms against the cryptocurrency. They will not allow anything, that reduces their dominance on the common people.

[avikz]

April 2021 set a new record of Rs. 1,41,384 crore in GST collection in india.
Despite the second wave of COVID-19 pandemic effecting several parts of the country.
Indian business have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month.
     The finance ministry said in a statement.

 IT good for county economic?

Indian economy needs an educated leader to lead to its success. GST is an improper indirect tax solution which has forced millions of businesses to close down within months of its introduction. It's true that government is earning more revenue through it but let's take a look how they are spending it.

1. Statue of unity - wastage of 370 million USD
2. Narendra Modi Stadium - wastage of 110 million USD
3. Central Vista project - wastage of 140 million USD (ongoing)
4. Proposed Sivaji statue - wastage of 540 million USD (proposed)
5. Bullet train - wastage of 10 billion (estimated)
6. Ram Mandir - wastage of around 300 million USD (estimated)

Now when the second wave of covid hit the country, we are realizing that our health infrastructure is not capable of handling such situations because millions of people have already died. Worst is yet to be seen!

[Vishnu.Reang]

1. Statue of unity - wastage of 370 million USD
2. Narendra Modi Stadium - wastage of 110 million USD
3. Central Vista project - wastage of 140 million USD (ongoing)
4. Proposed Sivaji statue - wastage of 540 million USD (proposed)
5. Bullet train - wastage of 10 billion (estimated)
6. Ram Mandir - wastage of around 300 million USD (estimated)

This is funny. Nice try to spread fake news.

1. Funds for Statue of Unity mostly came from the state of Gujarat, with only a small portion coming from the Union Budget.
2. Narendra Modi stadium is owned by Gujarat Cricket Association, and it received no central funding.
3. Central Vista project involves the shifting of office buildings to a open area from the crowded Lutyens region.
4. Shivaji Statue is only "proposed" and no decision has been taken
5. How come bullet train is a waste of money? You want people to travel in bullock carts?
6. The $300 million cost for Ram Mandir comes from devotees and the central government hasn't contributed a penny.  

[Haunebu]

You are clearly one of the minority who feels that GST is actually helping India in the short-term and long-term. Based on what I observed, it is easily one of the worst decisions implemented by the Modi Government.

The Indian economy is currently getting screwed by the 2nd wave and the lockdowns in different states are making things worse to an extent.

I expected the Indian economy to slowly and steadily recover this year just like other countries, but I never expected the 2nd wave to be more brutal than the first. The Modi Government are being criticised from all corners of the world for letting things get out of hand in this manner.

[goaldigger]

India might be able to collect taxes on time but the situation there is not acceptable for a rich country who spend a lot of money for their militarization. This shows how India handle the situation and they are failing big time on controlling the pandemic problem. Indian people still living like there's no virus and recently, I saw a big gathering on their place which they've said was for their religious belief which I think, can still be celebrated without gatherings, now this is the result, a big surge on the Covid-19 patients.

The economy of India will be affected on this since people and investors will panic, and many will just wait for India to recover but no one can tell until when as long as they didn't act to contain the virus, they are now calling for a full national lockdown, expect businesses to stop their operation and those collected taxes will be used for their relief operation, they should increase the bed capacity of their hospitals ASAP.