GST is
Inevitable for all its Virtues
This refers
to your Editorial Make it work (The BL dated 21/05/22).
The Goods and
service Tax introduced in 2017 can perhaps be one of the best tax reforms the
economy has experienced in the recent past.
The Supreme Court Decision may have constitutional validity, judicially
acceptable reasoning and theoretically not workable conditions in terms of the
provisions of the law to recognise the GST councils’ recommendations and make
them binding on the centre and states, the fact remains that the GST benefits
the economy in several ways to make the complicated tax system simple and good
for enhancing the cooperative federalism badly needed, improving uncooperative
federalism and achieving fiscal federalism. Though there can be ample scope for
removing the deficiencies in the overall working of GST mechanism, it has to be
accepted and appreciated that any tax policy to get stabilised and derive
maximum benefits takes time taking into consideration particularly the movement
of goods and services in such a vast economy having different geographical,
social, economic, political and technological conditions. All said, the GST
collections have recorded solid improvements and the general acceptance by the
business community, trade and commerce and general public has also been found
to be encouraging. Since the tax system of the country in relation to its
implementation and compliance successfully depends upon several factors, the
performance of GST has been by and large highly satisfactory with lot of scope
for further improvement perhaps, the need to continue it by appealing to the
Supreme Court for a review from the point of view of its benefits to the
economy and the public good is paramount. After all, the growth of the economy,
equitable distribution of wealth, maintenance of price stability and welfare of
the masses which is unfortunately a
casualty these days and universal welfare of the people are all dependent upon
the taxation and other policies of which
GST occupies a very prominent and indispensable position.
T V G Krishnan
Bengaluru.
(Sent to BL but not found published.)
Very good move badly needed by the suffering customers. The banks have simply forgotten that they survive because of the customers. Customers seem to have given up the expectation of any improvement in service leave alone getting improved service. Having been appointed Retired Senior Officials particularly from RBI it is hoped that they would do full justice to the assignment allotted and come out with some solid and practical suggestions to improve the services and rationalise the service charges. The Fast Eroding TRUST in BANKS and their Services can be regained only if banks care for customers ,understand the customers,and are able to extend services based on their expectations, needs and capabilities to appreciate the gaps now seen particularly in the Tecnological advancements in banks and Customers abilities to cope with to get the services. Ignoring Customers emails and sending standard replies without any intentions to act seem to be the trend in most of the banks and from this angle the customer gets a feeling that they can very well go in for Crypto currency transactions as no identity is known as to with whom they are dealing.The digital world has completely taken away even the very little rapport the customers had with banks is the sorry state of affairs. The time given to the Committee however, is totally inadequate as the committee members should have some interactions with customers who are suffering and the banks to experience themselves the issues faced by customers without revealing their identities.