If there was one Indian motto, it would be kar lenge jugaad; we will manage whatever be the circumstances. Sometimes our jugaad manifests in wonderful and innovative problem solving measures; at others it is about cutting corners, finding loopholes and circumventing the law in any way possible. As demonetisation showed us, when a reform is attempted our jugaad truly comes to the fore. So it is with GST as well. People have already started to find ways to evade GST. In the meanwhile the jokesters are having a field day as well:
Shoes that are priced below Rs 500 attract 5% tax; those above Rs500 attract 18% tax. So shopkeepers have taken to billing each shoe of the pair separately to bring down the price of the pair!
There is a similar tax slab for clothing: 5% tax for clothing below Rs 1000 and 18% for clothing above Rs1000. So a salwar suit for instance will be billed as three separate items: dupatta, kurta, churidar!
Branded rice attracts GST at 5% while unbranded rice is GST exempt. One of the country's biggest rice brands; India Gate is now rushing to assure people that they are not a brand registered under the Trademarks Act. According to KRBL Limited’s (owner of the brand) internal communication, fact that this is not a registered brand means that ‘NIL’ GST is applicable.
Tax accountants, chartered accountants are very busy these days; trying to make sense of the GST act’s provisions and putting in place the systems that traders will use as directed.
Some say traders are angry because they are unable to evade tax; others say they are angry because tax filing is now a complicated, laborious and ‘taxing’ process. Many can’t make any sense of it yet.
…of GST; having faith that the roll out was for the greater good even if short-term problems do in fact crop up.
Many thought that GST is an imposition that we could have done without.
When jokes are being made, can the ubiquitous ‘wife joke’ be left out of the equation?
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