What are the Advantages of GST?
Following are the benefits of GST:
- Simpler System of Taxation: GST will ensure uniform implementation of tax throughout the country, and it is also a transparent system of taxation.
- There will be no hidden taxes so naturally the cost of doing business will also go down for all the registered dealers.
- GST reduces a lot of complications as in many production cycles, services and production of Goods are interlinked. The confusion is avoided by getting one system of taxation.
- Tax burden is easily distributed among services and goods
- It also reduces corruption in the system by introducing transparency.