GST has been called historic, a game-changer, a unifier. Everybody has welcomed GST with open arms, right from all opposition parties (barring AIADMK), to economic experts. Even the average common man now feels GST will improve his life.
But when you ask people what GST actually is, very few people may be able to explain. Most might know that it stands for Goods & Service Tax, but thats where the train stops. Conceptual understanding of this economic concept is not known to many. And of course many people will have that embarrassing situation when a child asks them, with hope and earnestness, what GST really is.
If you want to get out of such tough conversations with young minds, or just fit-in to your MBA graduate office group, or just be the star of your family dinner, all you need to do is watch this video. Actress Pallavi Joshi explains with amazing ease, what GST is all about and how it will affect you. It is a very simplistic, bird’s eye view of GST and the major impact it will have on everyone’s lives:
After watching this, everyone should get at the very least a basic idea of what GST is. And if the video has sparked off the curiosity in you, and you want to go in deeper, you can always read our easy to digest primer on GST, which covers everything from the genesis, to the way ahead.