GST Passed: Save More And Invest to Earn the Most
After facing many controversies, finally, Rajya Sabha showed a green signal to the most awaited GST Bill in the recent monsoon session of Indian Parliament. There was not a single vote against it and thus got the acceptance of all the members. After hearing the update, now everyone is eagerly waiting for its implementation. The government has announced to execute it from April 2017, but many experts are of the view that it cannot be implemented before October 2017.
Indian citizens are eagerly waiting for its execution and want to know how promising GST shall be proved for them. Everyone has so many queries, doubts and confusions in mind and want clarifications on the same. Here, we have tried making things somewhat easier by providing a brief about GST. What wonders it will bring and how beneficial it shall be for you!
Let's understand the very basic concept of GST!
Goods and Services Tax(GST) is the boldest reform in the independent India, which aims to provide a simplified and convenient approach for indirect tax. The various taxes such as VAT, Central Sales tax, Service tax, Excise duty, Customs duty, etc., shall be subsumed under one head, i.e., the GST. By providing the input credit mechanism, it will help in mitigating the cascading effect. And, as all the goods and services shall fall under the same definition, it would simplify their administration. A standard rate of tax shall be applicable which would lessen down the overall tax burden of the Indian citizens.
Thus, by making the tax regime simplified and removing the double taxation, GST shall lead to reduce the tax evasion in the country. Also, various experts are of the view that it would also contribute to increasing the GDP rate by 1 or 2 percent, that would be fair enough for the economic growth.
Accordingly, with the passage of GST, it is confirmed that the natives of India are going to fetch many benefits, and as the taxes shall be reduced, they will be able to make great savings. So, have you planned where you would use such saved amount? If not, then Start thinking about it now.
Plan your investment!
Generally, due to lack of surplus in hand, we fail to make better investments. But now, as per the reformed taxation regime, we would be able to save more monies, and invest the same in the best investment ventures.
To make a profitable investment, we need to have the most effective plan. And for now, the most efficient investment strategy is an investment in SIP(Systematic Investment Plan). With a bundle of benefits that it possesses, it would help us to create wealth for the future.
When everything is getting simplified, then why not put money in the most simplified and systematic investment programme. The tax savings that you would make can be invested in the SIP mutual funds on a periodic basis, that would not only lessen down the burden of making huge payments at once but also make you a disciplined investor.
Out of the thousands of investment schemes in SIP, you can choose the one which suits your requirement the most. When you have the opportunity to create a fortune for yourself, then why miss it. Do not think more, instead, plan the best investment for yourself. Else, you will just end up doing impulsive buying, and no reform would help you out. The government is doing so much for your benefit by implementing GST, now it is your time to start up.
If you have the desire to create the corpus, then you can avail the services of MySIPonline, its financial experts are available to guide you in making the best investment planning.
- LTCG Tax Is Not As Negative As it Seems; Here’s Why?39534 min read Jan 01, 1970
- Sensex Plunges Over 1000 Points; Should You Buy or Hold Your Investments for Correction?40533 min read Jan 01, 1970
- Sensex Dives Nearly 840 Points: Things to Consider and Experts’ Take41453 min read Jan 01, 1970