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The Goods and Services Tax is a consumption tax that has changed the way India does indirect taxation. The GST was under consideration for a very long time. The tax structure which India had before the advent of the GST was quite complicated and extremely convoluted.
There were many taxes which were administered by a myriad of governing bodies, some going down to the city level. This created a lot of problems for businesses and consumers alike. Not only did businesses have to employ people to figure out and compute the tax, but they also had to figure out who to pay it to.
This created a drag on the economy and took money out of productive uses. All of this changed with the introduction of the GST tax. The GST created a unified tax structure and provided businesses with certainty and transparency.
Simplification of small business was a priority which is why, for example, the Composition Scheme under GST was introduced. This scheme helps small businesses reduce red tape and file more straightforward tax returns.
Some of the main benefits of the Goods and Services Tax system are:
1. Simplification of the Tax Code:
The pre-GST era was characterized by a complex and murky tax structure in which companies had to navigate as best they could. There were many layers of taxes such as VAT, Cess, Central Excise Duty as well as local taxes at the city level, which needed to be paid when a product or service was delivered to the customer.
This has now been simplified with the introduction of the GST. Now companies need to keep track of one single tax. They can now file taxes with a single entity in a secure manner.
2. Ease of Doing Business:
The implementation of GST has brought India up the ease of doing business rankings. Having a convoluted and complex tax structure with the manual filing of taxes creates a massive volume of paperwork.
Not only was there a lot of paperwork, but offline tax filing also created scope for corruption. GST has changed all of that with the introduction of one single tax under a single tax authority. It is now a much more streamlined process which is easier for businesses to navigate.
It is also essential to have a streamlined tax process for attracting foreign investors, so that has helped with Foreign Direct Investment in India.
3. Double Taxation:
Pre-GST, there was a problem of cascading taxation, wherein taxes would be piled on top of each other, leading to double taxation. A lot of the time, businesses and consumers had to pay a tax on top of another tax.
This was because there was no way for businesses to claim an input tax credit for every step of the way. GST has changed that entirely by introducing a system where each every step of production of a product is recorded, so taxes are only added incrementally, and double taxation is avoided.
Also, small businesses faced a daunting task of navigating the complex tax system, and the GST has enabled small businesses to simplify their tax return by introducing the Composition Scheme under GST. This has been a significant benefit of GST.
4. Tax Compliance:
Tax compliance has always been an issue in India, under the older tax system where tax filing was mostly done manually, there was a lot of tax evasion and under-invoicing.
Since there was very little that the government could do to track the production of goods. With the advent of the GST, the way the system is designed, it is much easier to track the production of products through the various invoices uploaded by businesses.
The Input Tax Credit system also incentivizes companies to report the number of goods and services used so that they can claim Input Tax Credit. This has been a positive development for tax collection.
5. Increased Tax Collections:
With increasing tax compliance, there is a potential for increasing tax collections. With the increased tax collection, the government can spend more money on important public services like health, safety, etc.
This is also one of the most important benefits of having a tax system that allows higher rates of compliance.
6. Foreign Investment:
In a globalized world, it is vital to attract capital from around the world. Top companies who want to invest in a country look for stable and transparent tax regimes so that they have regulatory certainty.
The older tax structure was haphazard and under the authority of multiple tax collecting bodies. This created a problem for foreign firms who wanted to invest in the country but had a tough time negotiating the tax landscape of the country.
The GST has completely changed that. The GST is under one central authority and uses the GSTN (Goods and Services Tax Network), which is the information technology service which underpins the whole system.
The GST system is also much more nimble and able to respond to the needs of the market because it is under one single tax authority, the GST Council. This is also an excellent benefit for the country as it doesn’t take a lot of consultation to change the rules in case of adverse market conditions.
In conclusion, there are several benefits to the country as a whole with the implementation of the GST system. Small business is the driving force of the Indian economy, providing a lot of employment. Things like the Composition Scheme under GST has helped simplify the tax filing for small business while maintaining compliance.
The city of Delhi has seen it all; from sultanate rule, to dynasties, and to colonial rule. From monarchy to democracy, Delhi has gone through its phases. But, in order to know and explore the nuances of Delhi, you must read these beautiful books.
1. City of Djinns: A Year in Delhi by William Dalrymple
This book was written while Dalrymple was still flirting with his love for the Medieval India. The author writes, "Moreover the city- so I soon discovered- possessed a bottomless seam of stories: tales receding far beyond history, deep into the cavernous chambers of myth and legend," and just like this, Dalrymple takes you in a tour to discover Discover Delhi.
2. Delhi by Heart: Impressions of a Pakistani Traveller by Raza Rumi
This book explores how the author explores his identity as a South Asian Muslim and how his city of Lahore is a mirror image of Delhi. Rumi, in this book, tries to co-relate the past with the present by comparing its festivals, streets, and markets.
3. Delirious Delhi: Inside India's Incredible Capital by DavePrager
This book is quite interesting. The story of this book revolves around the lives of Dave and Jenny who have recently moved to Delhi when their firm began to go down. The city of Delhi in this book is shown through their eyes as they try to make their way in the city that holds together a very large population.
4. The Heart has its Reasons by Krishna Sobti, Translated by Reema Anand, Meenakshi Swami
The original title of this book is "Dil - o - Danish". This book tells the reader about the streets of Old Delhi and almost transport the reader back in the past. This book is basically set in the 1920's, and tells the tale of a man's extramarital affair, his children out of wedlock, black magic, and Chandni Chowk's rich culture of sweets and the perils of being a widow. Interestingly, many have compared the author of this book to Jane Austen.
5. Delhi: A Novel by Khushwant Singh
Who would talk about Delhi and not remember Khushwant Singh? This amazing book is just like a narrative of the author's fulfilled love affair with the city and with a eunuch. The narrator in this book is an aging man who is trying to discover the city. This book is truly a masterpiece, where it takes the readers on the history of Delhi glimpsing at what makes the city what it is– simply beautiful.
There are some of the Indian cities which are older than time. Therefore, we must know which cities are they, and what has been their history!
1. Varanasi (1200 BC–)
Varanasi is one of the oldest cities of India, and has been a center of religious and cultural activity since the Bronze Age. In fact, this city might have been in existence from a very long time, since it finds mention in the Rig Veda. It is believed that the city of Varanasi was thriving for more than 1600 years before the fall of the Roman Empire in Europe. This city is one of the holiest places for Hindus and Jains, and even Lord Buddha gave his very first sermon here in 528 BC. In Hinduism, it is believed that dying in Varanasi brings salvation, which is the reason why the city is always brimming with pilgrims.
2. Ujjain (700/600 BC–)
Ujjain was once considered as one of the most prominent cities in the Middle India. In fact, the name of this city is repeatedly mentioned in the literature of that period, i.e. in the works of stalwarts like Kālidāsa. This city has seen the rise and fall of numerous empires, from the Mauryas to the Avantis, Nandas, and even the Guptas. This city, just like Varanasi, is also considered as one of the holiest cities in India, and hosts one of the officially recognized Kumbh melas, the Ujjain Simhastha Kumbh, in which people across the world take place.
3. Madurai (500 BC–)
Madurai been a major center of culture and trade for more than 2500 years. In fact, the name of this city has been mentioned in the writings of the great traveler, Megasthenes, and has been ruled by several empires from the Pandyas and the Cholas to the Karnata, and finally the British. Interestingly, ‘'Koodal,' was one of its ancient name which means 'a congregation of learned men'. There is no doubt that Madurai was an epicenter of scholars and religious teachers in the southern part of India.
4. Thanjavur (300 BC–)
Thanjavur was formerly known as Tanjore. This city is pretty famous for its Tanjore style of painting, which is a traditional style that is characterised by the use of gold foil, religious imagery, and simple compositions. This city is best known for being the home of the Great Living Chola Temples, which is now a UNESCO World Heritage site. Till date, people across the world visit this place in order to experience its rich history and heritage.
By- Digital Hub
I prefer synthetic wigs as it isn't something that I would wear all the time - just when I look different. Additionally, their ease of use is an essential factor for me. However, suppose you're looking to wear a wig for a fashionable accessory or as a way for you to show your personality. In that case, I'd recommend buying multiple synthetic wigs of various styles and colors instead of only the one human hair wig at the same amount. However, be cautious - only purchase top-quality synthetic braids that are more expensive as you might be disappointed by the new style you've chosen.
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A decent human hair wig will cost more than one made of synthetic. This is due to the supply of hair. While synthetic fibers are produced as needed, but long hair of women of good quality is in scarce supply. Human hair of the highest quality comes that comes from Eastern Europe, which is very low. The highest synthetic wigs are afro short wigs If you are looking for a human hair wig, the cost is more expensive and usually exceeds five hundred dollars, contingent upon the size. But you can find both kinds of wigs at a discount price from online stores that specialize in discount hair wigs. Cheap wigs aren't at any time inferior in quality; they're just not the latest models. If price is a concern, you should always purchase a high-quality synthetic wig instead of a low-quality human hair wig.
Require a Wig
If you're not sure of which wig you should pick, However, our suggestion is to choose the highest-quality human hair wig, especially if you plan to make it your style of the moment and wear it all day. Human hair wigs are the best choice for those who require a wig due to loss of hair. However, go for an artificial wig if you want to enjoy the way you look and change your appearance now and then.
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In today's society, the wearing of a hair wig has become more common. A hair wig is an easy method to alter your appearance at any time you wish quickly. Women are more drawn to these wigs since they can change their hairstyle with ease. Wigs are usually worn by those who have shed their hair or those who wish to alter their hairstyle to be fashionable.
Human hair wigs on display at a store Image source: Photo by Markus Spiske on Unsplash
There is a variety of hair accessories in the market. They range from inexpensive to costly depending on their materials, style, and quality. If you're in search of a wig, then be sure to keep several factors in mind. First, the wig should be able to fit comfortably on your hair without making you appear odd. Additionally, the color of hair that is a part of the wig must match your physical appearance. Below are various hair accessories utilized by the majority of people.
If you are purchasing a human hair wig, make sure you know the origin of the hair. If you're looking to invest a few hundreds of dollars on a wig, it's recommended to purchase one of European hair. However, if the wig's label reads "human hair wig" without stating the origin for the hair, it's most likely made of Asian hair.
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Human hair wigs have many advantages:
Human hair wigs last longer than synthetic ones
Human hair is soft and natural to the touch.
Human hair wigs can be dyed and styled as your hair
Human hair wigs "breathes" and your scalp won't sweat more than it does under one
Human hair wigs need to be styled at least once per wash
Human hair wigs are costly
While you can find numerous styles of synthetic wigs, but there aren't all fibers produced in the same way; for example, wigs that are costume-related for Halloween are typically made of lower quality fibers, which are expensive and appear to be the hair wig. For Halloween parties, this is okay, but for everyday use, you'll need a wig that looks like it's been growing around your head. On the other hand, contemporary synthetic materials utilized in top-quality designer wigs look highly practical for those who want to look realistic.
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