What is GST, and what are its benefits?Add Answer
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.