Discussion Community

Cloud Web-based ERP SaaS Software & GST

List of GST benefits  


Member Admin
Joined:1 year  ago
Posts: 56
January 31, 2017 9:37 am  

1.     Reduces transaction costs and unnecessary wastages: A single registration and a single compliance will suffice for both SGST and CGST provided government produces effective IT infrastructure and integration of states level with the union

2.     Eliminates the multiplicity of taxation: The reduction in the number of taxation applicable in a chain of transaction will help to reduce the paper work and clean up the current mess that is brought by existing indirect taxation laws

3.     One point single tax: There would be focus on business rather than worrying about their taxation that may crop at later stages. This will help the business community to decide their supply chain, pricing modalities and in the long run helps the consumers being goods competitive as price will no longer be the function of tax components but function of sheer business intelligence and innovation

4.     Reduces average tax burdens: The cost of tax that consumers have to bear will be certain and it is expected that GST would reduce the average tax burdens on the consumers

Reduces the corruption: As the number of taxes reduces so does the number of visits to multiple departments reduces and hence, the reduce


Please Login or Register