0:01 an important technique
0:04 to write vat for your examinations for
0:08 essays for b schools is called the i t c
0:11 c rule the itcc rule talks about the
0:13 four components of var
0:15 where i stands for introduction
0:18 t for three points
0:21 c for a counter point and final c for a
0:22 conclusion which is flowing
0:24 synergistically with whatever logic you
0:26 have sewn up till now so
0:27 so
0:29 let us give you a small demonstration on
0:32 how you would like to use itcc framework
0:34 for a topic like
0:37 what are your views on gst now
0:38 now
0:39 in the beginning i want to tell you that
0:42 you may take a view for the topic or
0:43 against the topic
0:45 but so long as your logic and structure
0:47 is very solid your probability of
0:50 success is going to be very high so
0:52 let's give you two contrarian examples
0:56 case one you speak in favor of gst
0:59 so let's start with an introduction
1:01 and the introduction should be grand
1:03 philosophical which gives a broad overview
1:04 overview
1:07 for a nation of the size and stature of
1:10 india it's absolutely imperative that we
1:13 must attain not just social
1:15 and harmonious integration however
1:18 economic integration therefore it was
1:20 really the need of the hour that the
1:23 goods from one place to another across
1:25 the states could move seamlessly
1:28 through gst the government has ushered a
1:30 master stroke which will help realize
1:32 this entire dream of
1:35 one nation one tax structure
1:37 so i strongly believe that gst is highly
1:39 saluborous for the economy and there are
1:43 three reasons why i say so number one it
1:45 has eliminated the state related
1:48 barriers in the trade of goods and
1:51 services so you can produce anywhere and
1:54 sell anywhere across india without any
1:57 kind of differentiation or a penal tax
1:59 which was earlier there in the form of
2:02 central sales tax the second big reason
2:04 why i say so is it has made the taxation
2:06 system more transparent
2:09 therefore various malpractices avoidance
2:12 of tax have now been eradicated out of
2:14 the system or at least are on their way
2:17 out and third very important reason why
2:19 i support gst is that overall revenue
2:22 collection has showed up therefore state
2:25 is getting greater revenue and therefore
2:27 fiscal deficit is likely to eventually
2:29 be contained and this money can be used
2:31 for the welfare of the nation
2:34 there is no gain saying the fact that as
2:37 a counterpoint the procedural
2:38 implications of gst have been
2:42 challenging also a vast array of slabs
2:44 makes it at times slightly challenging
2:47 for the trade community however
2:49 these are the smaller issues which can
2:51 be tackled in an incremental way to make
2:54 the gst ever better so i sincerely
2:56 believe the gst
2:58 is an important taxation law which will
3:00 help india script its part to be a
3:02 global superpower
3:06 so this is we giving our opinion on gst
3:08 as predominantly positive
3:10 an introduction
3:13 three points in favor then a counter
3:16 point and finally a conclusion now let's
3:18 do exactly the opposite
3:21 let us take a view that gst has
3:23 challenges and limitations
3:25 so let's go as follows
3:27 our founding fathers envisage the
3:30 creation of a nation where
3:32 irrespective of whatever economic
3:34 prosperity we may accomplish it is
3:37 absolutely imperative that the society
3:39 must take care of the underprivileged so
3:40 there is
3:43 harmonious integration of the nation
3:46 in my sincere view the way gst has been
3:49 ushered and implemented leaves serious
3:51 challenges related to how it hits those
3:55 at the marginal segment of our society
3:57 there are three reasons why i feel gst
4:00 has serious limitations the first being
4:03 that it requires very massive
4:05 infrastructure and procedural
4:07 requirement on the part of a small
4:10 trader to be complying to the roots
4:12 this means that small traders small
4:14 manufacturers really have to create an
4:18 entire peripheral area of people team
4:20 who are filing in the returns and this
4:22 may be highly deleterious to their
4:24 feasibility the second reason is that
4:27 the overall taxation rate has eventually
4:30 got marginally increased thereby hitting
4:33 the small trading segment really badly
4:36 the third reason why i say so is that
4:38 although gst was meant to simplify by
4:41 one nation one tax it has only
4:43 complicated things by introducing
4:46 numerous slabs and often there are
4:49 certain asymmetrical structuring of slab
4:51 where inputs may be higher and output
4:53 may be tax lower
4:56 therefore i sincerely believe that gst
4:58 has certain serious facets which should
5:01 be worked on to make it better there is
5:03 no gain saying the fact that the thought
5:05 and the direction of integrating the
5:08 nation with one tax is very good however
5:11 i sincerely believe that the tax really
5:13 needs very fundamental reflection and
5:15 review before it can really deliver the
5:19 objective for which it was designed
5:23 so please use the i t c c framework and
5:26 write very powerful creative backs
