0081 FB GST Reforms in India: What Changed and Why It Matters

Truth N Trends

Goods and Services Tax (GST) was introduced as “One Nation, One Tax.” But reforms and changes keep happening—rates, compliance, exemptions, and revenue-sharing. What do these changes really mean for the common man and the Indian economy? In this video, Sonia and Deepak break it down in simple conversation—covering the logic, the issues, and the impact of GST reforms.

Transcript

00:00hello dear viewers welcome back to truth and trends today we're decoding something that

00:13affects every indian gst reforms and economic policy sonia i keep hearing gst reform in the

00:20news but honestly i don't fully get what it means can you explain it in simple words

00:26sure deepak before gst india had too many indirect taxes excise vat service tax entry tax it was messy

00:35gst came in 2017 as one nation one tax to simplify this system okay that sounds good but did it

00:45actually make life easier in some ways yes goods started moving freely across states without

00:51checkpoints and businesses had one common tax structure but there were challenges too complex

00:57filing rules multiple gst slabs 5 12 18 28 and frequent changes confused people so gst wasn't

01:08really one simple tax as promised exactly for a big corporate gst digital filing is manageable

01:16but for a small kirana store or street vendor compliance became tough some had to hire

01:23accountants just to file returns hmm so the winners were big companies and the losers were small

01:30businesses not entirely deepak the gst council where center and states meet keeps adjusting rules

01:38for example lowering tax on essentials raising it on luxury goods exempting some services and now

01:46discussing gst 2.0 to reduce slabs and simplify filing i read recently about new changes like online gaming

01:55tax and fuel debate that's also gst reform right yes exactly every reform tries to balance two goals

02:03government revenue and people's affordability two high tax hurts businesses two low tax empty state budgets

02:11finding that balance is the key so the journey isn't over gst will keep evolving absolutely

02:19gst is not a final product it's a process india is still fine tuning it dear viewers what do you think

02:27has gst helped you as a consumer or hurt you as a small business comment below with your experience

02:34don't forget to like share and subscribe to truth and trends for more such simple

02:39clear breakdowns we'll be back with another important topic soon jay hind

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