Discussion Community

Cloud Web-based ERP SaaS Software & GST

Advantages of GST | Benefits of GST | impact of GST  


Joined: 1 year  ago
Posts: 65
August 29, 2017 7:49 am  

Advantages of GST | Benefits of GST | impact of GST 



(i) Simpler tax system

(ii) Reduction in prices of goods and services due to elimination of cascading

(iii) Uniform prices throughout the country

(iv) Transparency in taxation system

(v) Increase in employment opportunities




(i) Reduction in multiplicity of taxes

(ii) Mitigation of cascading/double taxation

(iii) More efficient neutralization of taxes especially for exports

(iv) Development of common national market

(v) Simpler tax regime-fewer rates and exemptions


Central/State Governments:


(i) A unified common national market to boost Foreign Investment and “Make in India” campaign

(ii) Boost to export/manufacturing activity, generation of more employment, leading to reduced poverty and increased GDP growth

(iii) Improving the overall investment climate in the country which will benefit the development of states

(iv) Uniform SGST and IGST rates to reduce the incentive for tax evasion

(v) Reduction in compliance costs as no requirement of multiple record keeping



GST Bill Benefits, GST APP, GST Benefits, GST Registration Online


Please Login or Register