GST is a target based consumption line. Different tax rates are set for various types of goods and services, some products are cheap and some are expensive.
BenefitsGST is an easy and transparent tax, covering up to 16 types of taxes and 23 types of taxes subject to the provisions of the federal government and state governments.
This has reduced the tier effect on taxes.
The cost of production of many advantages, the lower the burden and the resulting prices are reduced. Increase demand.
Increased demand will require increase in supply. So the productivity of goods will increase.
Increased production will create more job opportunities.
Prior to this, it is necessary to allocate less money to buy expensive things.
The GST increases the government's revenue as a taxpayer increases taxation and improvement.
The price of goods and services will decrease, so this will benefit the sluggish people for higher price payments.
GST is a tax-based tax on the sale, production and consumption of a nationwide goods and services. This tax will replace all indirect taxes imposed by the state and federal government. Export and direct taxes such as revenue taxes, corporate taxes and capital gain taxes will not be affected by GST. GST makes Indian ranking easier. It is expected to increase from 1.5% to 2% of gross domestic product.
In the previous period they paid 15% of service tax. So only 3% of service line tax is higher. One way u can avoid 3% increase your time pays time. The service tax does not charge you the amount you use on your credit card. Service tax will be charged at 15% while GST implementation increases by 18%. 3% higher commitment late.