Advantages of GST

Advantage of GST to

CITIZENS

  • (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

TRADE / INDUSTRY

  • (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 Govt.

  • (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

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