MAJOR BENEFITS OF GST
1.The tax structure will be made lean and simple.
2.The entire Indian market will be a unified one, which may translate into lower business costs. It can facilitate seamless movement of goods across states and reduce the transaction costs of businesses.
3.It is good for export -oriented businesses because it is not applied for goods /services which are exported out of India.
4.t can bring more transparency and more compliance .
5.Manufacturing will get more competitive as FAST addresses cascading of tax ,high logistics cost and fragmented market. There will be increased protection from imports as GST provides for appropriate countervailing duty.
6.Manufactured goods could become cheaper.
Great post.
Thanx alot .
We have a 10 percent gst tax here in Australia it's not applied to fresh produce and some other things
Thnx for telling but I am only telling about India .