Many polls
are held whether GST is badly executed? Frequent tweaking is happening? Any
economic landscape that can be visualised and forecasted clearly can have
precise measures/ planning.. While GST is a path breaking change but no radar
can capture the post scenario with precision. When confusion is the path
towards clarity, the wisdom asks us to be more cautious in every step as each
step may pull down suddenly. In this unclear unpredictable post GST regime,
Arun Jailtely has to evolve the tax and procedure structures. It is difficult
to increase tax rates once we introduce but we can reduce as per the psychology
of the citizens. Hence he adopted a safe five slab structure with an intention
to tweak it once we move into post GST regime and arrive at the right
combination. He will move towards a single structure over few years some items
of consumption started with more tax rates as otherwise you cannot increase but
you can only reduce as per tax payer psyche. If the overall GST collection is
poor the states will start crying and there will be chaos. Therefore adopt a
safe approach of having five slabs slightly at elevated levels and start
reducing once we are sure of tax volume as we see in live situation.. It is
like a corporate adapting to new erp or when we migrate to a new place for the
first time. Have a base model and tweak it to perfection.. Anyone would face similar
situation if they face such situation. When we move into new landscape with no
precise inputs for prediction (as it is the first time and it is path breaking
in terms of changes) here confusion is the path towards clarity. Arun Jaitely
should not be blamed. This is an evolution which is a scenario any one will
face when they introduce.. Arun Jaitely and Narendra Modi' strong will has to
be appreciated. They should not break midway.. They have to show the will and
determination. They are rightfully showing that.. Hence reforms will take the
right shape.. One has to wait and give some more time to see the benefits of
these reforms.
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