Tag Archives: gst

Why GST, What are benefits ?

To Trade

1- Reduction in multiplicity of taxes

2- Mitigation of cascading/ double taxation

3- More efficient neutralization of taxes especially for exports

4- Development of common national market

5- Simpler tax regime

6- Fewer rates and exemptions

7- Distinction between Goods & Services no longer required.

 

To Consumers

1- Simpler Tax system

2- Reduction in prices of goods & services due to elimination of cascading

3- Uniform prices throughout the country

4- Transparency in taxation system

5- Increase in employment opportunities (an indirect impact we can say)