Learn about the benefits of Goods and Services Tax (GST)

1 nation, 1 tax, 1 market. Board the benefits of single taxation with Goods and Services Tax (GST). GST promote free flow of goods, simple tax regime, easing compliance and unshackling economy. Here are the highlighted benefits of GST –

  • Simplified tax structure: Harmonization of laws, prodcedures and rates of tax across the country | Reduction in multiplicity of taxes now leviable on goods & services, leading to simplification
  • Easy compliance: Compliance burden to come down with one pan-India tax replacing multiple taxes | Automated procedures for processes like registration, returns, tax payments, refunds and credit verification
  • Promoting trade and industry: Mori efficient neutralization of taxes to make our exports more competitive internationally | Seamless flow of tax credit from manufacturer / supplier to user / retailer to eliminate cascading of taxes
  • Spurring economic growth: To make India a manufacturing hub | To crease a unified common national market

Revised Draft Model GST Law and Draft IGST (Integrated Goods and Service Tax) Law available in public domain. The same can be accessed at www.cbec.gov.in, www.dor.gov.in or ww.gst.gov.in

Issused by Directorate General of Taxpayer Services, Central Board of Excise & Customs | www.cbec.gov.in

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