7 Key GST Benefits in Layman Terms
Simpler tax system GST is supposedly eliminating 15+ different taxes like the Central Excise duties, VAT, service tax. This will simplify tax calculations and eventually reduce the price we pay on many goods and services. International Competence GST Would enable competitiveness of Indian products and services in the international markets and thus improve economic resistance and growth for India. Cost of doing business becomes lower GST will not be a cost to registered retailers and therefore there will be no hidden taxes. Thus, the cost of doing business becomes lower, encouraging local businesses and 'make in India' programs to increase the entrepreneurs within India. No more state entry checkposts + Reduced Transportation Cost Since there is no state specific taxes any more, all the state border checkposts are now gone for good. This way transportation costs comes down for essential goods that gets transported every day between various Indian states. Also, ecommerce giants ...













Comments
Post a Comment