CLEAN : Indian business braces for disruption amid massive reform

The video discusses the introduction of a uniform taxation regime in India, known as GST, which aims to simplify the current complex tax system involving multiple taxes at different levels. The speaker highlights the challenges of the existing system, such as accounting hassles and varying tax submission dates. The GST is expected to streamline these processes, potentially affecting sales and pricing. The speaker believes GST will benefit businesses in the long term, despite initial adjustments, and emphasizes the importance of maintaining a clean business strategy.

What is the primary goal of introducing GST in India?

• To simplify the tax structure

• To complicate accounting processes

• To increase the number of taxes

• To decrease government revenue

How might GST affect sales before its implementation?

• Sales will not be affected

• Sales are expected to increase

• Sales are expected to remain the same

• Sales are expected to decrease

What is the anticipated long-term effect of GST on businesses?

• It will have no effect

• It will harm businesses permanently

• It will benefit businesses in the long run

• It will only benefit large corporations

Why are some businesses not rushing to liquidate inventory before GST?

• They are unaware of GST changes

• They believe GST will ultimately be beneficial

• They have no inventory to liquidate

• They expect GST to harm their business

What is the speaker's perspective on running a clean business in the context of GST?

• It is irrelevant to GST

• It will be beneficial in the long term

• It will only help in the short term

• It will lead to immediate losses