What is GST, and what are its benefits? - Letsdiskuss
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Academy Of Finance

Owner | Posted 25 Nov, 2019 |

What is GST, and what are its benefits?

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Founder & CEO at AERO2ASTRO | Posted 27 Jul, 2020

One of the benefits of GST is that it coordinated diverse expense lines, for example, Central Excise, Service Tax, Sales Tax, Luxury Tax, Special Additional Duty of Customs, and so forth into one united assessment. It forestalls various expense layers forced on merchandise and enterprises.....

sayali patil

sharepoint developer | Posted 25 Nov, 2019

Goods Service Tax (GST) is indirect tax impose in india on supply of goods and services. goods service tax was passed in parliament on 29th march 2017, and GST Tax come into effect 1st July 2017. GST brings uniformity in taxation and replace many indirect in india.

Benefits of GST:

1)Reduce Tax Compliance as number of tax returns to be filled under GST has come down.

2)It Reforms Indian Taxation and represents the Country as a common national market.
3)It helps make Indian commodities, goods and Services more competitive in the local market as well  as  Global market.

4)Registration and filling returns under GST made simple as everything is done online.