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Showing posts from November, 2017

2017: The year of Economic Revolution

2017 has been a year of Economic Renaissance for India. The Government took various new initiatives to bring growth, eradicate corruption and bolster Indian economy. GST and Demonetization were two main steps in this direction. Both of them aimed to expose black money, banish terrorism and tax-thugs and promote the concept of cashless India. Coming to analysis part, there are certain uprights that followed GST and demonetization. The tax returns registered an unprecedented growth of 25%. Another positive thing that happened to India after demonetization was the emerging use of digital wallets. It was a good move as more transparency could be spotted in the system’s cash flow. GST on the other hand also reduced indirect and hidden taxes bringing transparency in the goods and service domain. The main agenda behind GST was to split the taxes between the manufacturer and the service providers without victimizing the customers.   The government has made Digitization a buzzword