The introduction of GST in India has proved to be quite beneficial in terms of simplification and strict check controls. It has not only replaced other taxes but has also brought most of the economic elements under a single umbrella. The impact of GST on the Indian economy is robust and surprising. Not only the manufacturers, retailers, dealers, wholesalers or shopkeepers are under advantage, but also the common man- the consumer. GST will remove the complexities from the economic institutions and their working and will maintain a smooth functioning to support a better financial state of the nation.
State governments are now opting for opening specialized and territory-limited platforms for a particular state, which will simplify the GST process to a greater extent.
One such portal is MahaGST.
It is an initiative of the state government of Maharashtra, to lighten the burden on the people of that particular state by aiding them in tax-paying procedures and providing them with all the services on this platform.
What is MahaGST?
GST or Goods and Services Tax is an indirect tax, which is levied on all the value additions which take place in the conversion of any raw material to the final product. Not only on the manufacturing of a product, but GST also takes the services provided, into account.
Although there is already an online portal where many services are provided for GST, MahaGST is not at all failing to prove beneficial. It is an online portal that is specially made for the population of Maharashtra. It combines various acts and rules and administers the work related to them.
There are numerous reasons which are responsible for the creation of this website and the establishment of all the services provided by it. Due to these reasons, mahagst.gov.in has proved to be fruitful to its users.
Let’s look at them one-by-one.
An Integrated Platform
Unlike the leading GST portal, the Maharashtra GST platform provides services other than GST, too. One can log in for VAT and Allied Acts as well as RTO. Registered dealers can access their profiles through this portal. Users can apply for the Amnesty scheme and also create profiles for the same irrespective of being non-TIN holders. No need to visit different websites for different works. The residents of Maharashtra can access everything through this all-in-one portal!
The relentlessly positive impact of GST on the Indian economy is one of the reasons why this portal was created. As one can understand from the name of the portal, the primary function of this portal is to provide benefits and services related to GST to its users, within seconds. You can know your GST taxpayer, register yourself for GST, file your GST returns as well as make payments online through this website. You can also search for GST rates.
With MahaGST, there is nothing that can stop the Maharashtrians from pacing up, economically. This portal has made the procedure of tax-paying extremely smooth. One can pay for GST taxes, make regular payments related to returns, make payments against Statutory Order, pay order as well as return dues. An option for PTECT OPTP payments is also available.
The website also provides you with almost all the forms which can be needed for any financial or tax-related purpose, and hence can be downloaded from here. There are two lists: Electronic Forms and New Manual Forms. Tenders, notices as well as advertisements are also available for download.
One of the most striking features of this portal is that it provides you with many software and their links for download, like GST billing software, MAHAGST software, GST rate finder software, MAHAPT software, etc.
You can also download your eCST form and view it after entering your serial number.
A considerable portion of this website is information-based, which makes the portal quite user-friendly and understandable. Information related to various acts, rules and regulations, reforms, guidelines, alerts, etc. are given. A detailed description of RTI is also mentioned in the menu.
Creating such territory-targeted portals reduces internet traffic and boosts the speed of the website automatically. If the whole population of India is using a single platform for their work, it is evident that the site will be vulnerable to hanging and traffic more, against numerous platforms for respective states.
Impact of GST on the Indian Economy
GST has undoubtedly been an enormous success. Its proposal and enforcement have brought significant changes to the taxation system of India. One of the considerable benefits of GST is that it has cut the double-taxation procedures. It has resulted in low manufacturing prices which have subsequently lowered the costs for the end-consumers. The impact of GST on the Indian economy has been such that because of low prices, the demand and consumption of products have witnessed an exploding boost. When the demand is high, the supply will also increase thereby increasing the manufacturing of products.
With GST, the financial systems will be much more transparent and visible to their cores. Tax barriers will be removed with the eradication of the tax-on-tax notion. The most significant impact of GST on the Indian economy would be increasing the fame and leveling up the Indian market in foreign lands by removing the custom duties on exports. It will also eliminate harmful elements like black money and corruption, by tracking all the transactions and financial activities of everyone, managing their histories and keeping a strict check on them. To motivate the taxpayers and business people, GST will provide credits to them based on their punctuality in tax-paying, etc. Hence, the impact of GST on the Indian economy is astonishing, and with more technological advancements, it will come out to be game-changing!