JANUARY 01, 2025

By Vijay Kumar

AS we brace ourselves for another year of GST adventures, let's all raise a toast-preferably one that's tax-exempt-to the hopeful prospects of a year with a little less confusion and a lot more clarity. Here's to praying that 2025 doesn't feel like navigating a cornfield blindfolded while juggling popcorn and used car manuals. Let us brace ourselves for a new year of GST that promises to be simpler, more generous with input tax credits, friendlier assessments, and officer interactions that might just end with a friendly handshake rather than a dreaded handcuff.

As 2024 rolls away like an old movie reel (the kind with too many plot holes), we eagerly etch "2025" into the fresh pages of our lives, packed with hopes, ambitions, and a handful of fiscal surprises. While we are busy contemplating visions of grandeur for the new year-those gym memberships we swear we'll use, it's time to acknowledge the quirky (and often baffling) world of Goods and Services Tax (GST).

Happy New Year! As we step boldly into 2025, with our resolutions glowing like fireworks, let's take a moment to blend the joys of fresh beginnings with our old frenemy-GST. Yes, that charming addition to the shopping bill that makes us rethink our life choices at the checkout!

GST was marketed as the magical reform that would streamline the tax system. Imagine a sleek highway of taxation, devoid of bumps and potholes-except we are still stuck in that one-lane toll booth trying to figure out if our snacks are taxable or tax-free.

Popcorn and Used Cars: Who knew that something as simple as popcorn could become the poster child for GST confusion? In 2024, we saw popcorn fans and social media influencers scratching their heads over whether the tasty morsels should pop into the 5% or 18% tax bracket. Meanwhile, used car dealers were caught in a whirlwind of tax puzzles that would make even Sherlock Holmes throw up his hands in exasperation.

One of the great debates surrounding GST-akin to a poorly written sitcom-centres around the taxation of popcorn.

Picture this: you're at the theatre, ready to enjoy a blockbuster as you munch on your oversized bucket of popcorn-cue the dramatic music. The popcorn arrives serenaded by an exorbitant GST rate.

So, here's a tip for 2025: next time you hit the cinema, channel your inner economist. "Is this popcorn experience worth the extra tax? If your New Year's resolution is to be savvy about spending, remember to factor in those cinema snacks before descending into tax frustration!

As we step into 2025, let's address the elephant in the room-popcorn! Besides being a classic movie snack, popcorn ignited the great GST debate of the previous year. But here's where it gets funny. As you munch on that buttery delight, you realize that the taxman's shiny hand is hovering over your popcorn!

The fun of 2024 was that all the confusion on popcorn and used cars was created by social media scholars.

Show Cause Notices and Adjudication Orders: Elegant adjudication and show cause notices that actually follow the principles of natural justice-imagine that! It's like asking for a Bollywood musical without unnecessarily dramatic plot twists. As we stride into 2025, let's hope the authorities develop a soft spot for fairness, granting taxpayers fewer soundtracks of confusion and more coherent adjudications.

Raids and Arrests: Can We Chill, please? Raids are exciting in movies, but in real life, they're about as welcome as a traffic jam on your way to a vacation Let's hope the tax inspectors channel their inner chill for 2025, conducting fewer raids and making fewer arrests.

Waiting for the GST Tribunal: taxpayers in 2024 were hopeful about the GST Tribunal coming into action. Unfortunately, it turned into a never-ending warm-up act without the main event. This year, let's hope the Tribunal finally steps into the spotlight, bringing much-needed resolution to tax disputes.

Ah, the haunting realization that India is still waiting for the establishment of tax tribunals promised in the GST framework. While expectations of a streamlined process of appeal once seemed tangible, the absence of this essential dispute-resolution body has thrust countless taxpayers into the rabbit hole of prolonged conflict.

Simplification: GST simplification will be akin to spotting a unicorn in Connaught Place.

Picture this: you're lounging at a cafe, and someone casually mentions, "Oh, filing my GST return was a breeze!" Yes, 2025's GST is so straightforward that even your grandma could do it while whipping up her famous lassi. No more sifting through stacks of paperwork that resemble Tolstoy's War and Peace. Instead, expect sleek, user-friendly portals that practically file your returns for you with a virtual pat on the back.

Input Tax Credit - No More Treasure Hunts: Remember those epic treasure hunts in childhood? Searching for hidden tax credits felt just the same-without the fun. But 2025 is here to change all that. Think of input tax credit as a friend who just threw the biggest surprise party you didn't even know you deserved. In this newfound paradise, claiming your input tax credits will be less like starring in Pushpa-3 and more like ordering pizza online - seamless, straightforward, and gratifying.

Friendly Assessments: Picture this: entering a GST office in 2025 and being greeted with a warm smile and a cup of chai. Unbelievable, right? But here, assessments will be more akin to friendly chats with your tax officer about the latest cricket match rather than nerve-wracking interrogations. It's like suddenly finding out that the taxman is actually your long-lost friend who's genuinely interested in how your business is doing.

Officers with a Heart: The 2025 Fantasy This year, we're putting an end to the era of stern-faced officers who might as well be auditioning for roles in a very serious courtroom drama. Instead, 2025 ushers in a new breed of GST officers-ones who are approachable, empathetic, and maybe even sporting a sense of humour. Imagine walking into an office where your officer greets you with, "Hey there, let's sort out this tax mess, shall we?" The only surprise here is that you might actually leave with a spring in your step instead of sweat on your brow.

A Hopeful Horizon: 2025 is painting a hopeful, almost magical, picture of GST in India. With simplification, seamless input tax credits, and friendly faces greeting you at every step, it's like winning the tax lottery. So, here's to a year where your tax worries are as trivial as deciding between samosas and pakoras, where paperwork dances away into history books, and where GST is less of a burden and more of a breeze.

The New Year Resolution: Navigating Taxes Like a Pro

As many of us contemplate shiny new resolutions for 2025, let's not forget the pivotal role that our tax keeping could play in making our lives smoother this year. Here are some practical resolutions for navigating GST:

1. Educate Myself on GST: Will 2025 be the year I finally understand the difference between standard-rate and zero-rate items? Bring on the articles, webinars, and YouTube videos-I'll have my own crash course!

2. Keep Receipts Organized: Invest in a quirky receipt holder or a mobile app to digitize them.

3. Launch a Tax Club: Gather your friends around for a monthly "What's Trending in Taxation" meet-up. Compiling tax anecdotes, venting frustration, and, of course, sharing the funniest finds from years past!

4. Participate in Fiscal Fitness: Just as you would sign up for a gym membership to get into shape, challenge yourself to get financially fit by refreshing that personal finance plan. Cheerfully tackle investments, saving, and of course, that pesky tax management!

The Ultimate 2025 Tax Show: Where Comedy Meets Compliance

With our glasses raised high and spirits lifted, let's step into this new year-armed with a collection of giggles and a sprightly attitude toward taxes. May our resolutions serve as inspiring reminders to approach GST with a healthy dose of laughter and a sprinkle of wisdom.

As 2025 unfolds, here's wishing you all a year bursting with joy, love, and perhaps an easier approach to managing your taxes.

A Happier Year Ahead with GST: In an ideal world, 2025 will bring fewer tax-related rollercoasters and more smooth sailing. If we can manage to declutter the popcorn and used car chaos, uphold the principles of natural justice, minimize raids and arrests, and finally see the Tribunal in action, we might just find ourselves a little happier-and a lot saner-by this time next year.

So, as we venture into the new year, let's keep our fingers crossed and our popcorn ready for a lighter, brighter, and hopefully simpler GST journey. Cheers to a happier, more harmonious tax-paying year!

So, for 2025, let's raise our collective voices-not in chants of rebellion, but in hopes of tangible solutions! Let's rally for improved structures so that our grievances are heard and taken seriously, without the added drama of waiting for vindication.

We may not be able to change toxic bureaucracy overnight, nor can we control how popcorn is taxed, but we can control our sense of humour.

Do you believe all this in 2025? As much as I do when somebody greets me a healthy, happy and prosperous new year.

Until next week