Taking a close note at the structure of GST of taxing the commodities makes me ponder the measures government is taking to stop the opulent section from consuming things which are considered as their basic needs by taxing it at a rate of 28% . Compelling them to pay higher , which reminds me of some what the same incident of 1990 adopted by the congress in USA , to raise revenue from those who could most easily afford to pay .It seems the government thinks taxing the luxuries is the easiest logical way . Further taking a hypothetical situation that the rich might not go for interior decorating and instead invest in some tax saving investment , analysing the elasticity of the demand for these goods tell us that the demand will be elastic and will have an inelastic supply in the short run and the burden might fall on the supplier and the workers .
Digitalization : curtails expenditure
With digitalization coming in , it is easier for students to keep a check on their expenses . Cash in your pocket act like a leak in the ship which eventually makes the ship sink .
Penning down expenses is a tedious job and with students having so much to study often don’t remember the expense and nor do they have time of doing this , which leads to unwanted expenses. Digitalization does not require you to pen the expenses instead sends you alerts which makes it easier curtail the expenditure .
moneyspice 