02.10.2018, 02:48 PM
The introduction of Goods and Services Tax (GST) would be a very significant step inside the field of indirect tax reforms in India. With the aid of amalgamating a huge quantity of significant and nation taxes right into a unmarried tax, it might mitigate cascading or double taxation in a chief manner and pave the way for a commonplace country wide marketplace. From the consumer point of view, the most important benefit might be in phrases of a discount within the usual tax burden on goods, which is presently envisioned at 25%-30%. Introduction of GST Registration could additionally make Indian product competitive in the domestic and international markets.
