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GST or Goods and Services Tax is considered as major Tax reform policy in India which will be implemented anytime after April 2017. Most Economist are very positive about GST implementation. We have brought you some Facts about GST or Goods and Services Tax which you should know, this includes advantages and disadvantages of GST as well.
Facts About GST鈥?mdash;鈥奧hat is Goods and Services Tax
The Goods and Service Tax or GST is a taxation system where there is a single tax in the economy for goods and services. This taxation system is meant to create a single taxation system in the entire country for all goods and services.
Facts About GST鈥?mdash;鈥夾dvantages
1. GST is a transparent Tax and also reduce numbers of indirect taxes. With GST implemented a business premises can show the tax applied in the sales invoice. Customer will know exactly how much tax they are paying on the product they bought or services they consumed.
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