What is GST in India?
The GST is a Value added Tax (VAT) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and state governments.
GST(Goods and Services Tax) Advantage – GST INDIA
1.GST will boost our Indian Nation economically and with GST life will get simply as it replaces approximately all the indirect taxes and hence compliance costs will fall.
2. Goods and Services Tax helps to boost our revenue and its also help to reduce the cost of logistics and inventory.
3. Single TAX System(GST) improves tax process that boosts all kinds of investment in india.
4. GST provides protection to the all investors in the case of importing or exporting that boost manufacturer also and MODI Make in India concept emerges more effectively with GST Scheme.
5.GST will reduce all the tax rate and it’s help tax rate divided equally between manufacturing and services.
What is GST? Benefits of GST
1. GST helpful to create a transparent and corruption-free INDIA TAX System that boost our indian nation to grow rapidly.
2. GST will promote the export concept that helps increase vacancies for jobseeker and it will definitely boost our indian nation growth.
3. State GST and Central GST government taxes will be collected on the sale point and it will be charged on the manufacturing cost. It will reduce the cost and it increases consumption that directly or indirectly helps companies.