Impact of GST
This query is : Resolved
01 September 2016
what will be the impact on economy as a result of introduction of GST in India????
01 September 2016
Dear Ajay,
It will surely boost the economy. just wait for the implementation of GST
Hope your query is resolved
02 September 2016
it will have a multi facet effect. It can not be explained as a LINEAR function. The effects are complex and the best way would be to wait, watch and see.
02 September 2016
1. Simplification and rationalisation of Taxes
2. Shift of Trade from Unorganised to Organised Market.
3. Improving Efficiency
GST will be a destination-based tax on a comprehensive base of goods and services across the value chain. It aims to address the complexities in the current multiple taxation regime. It will subsume the plethora of indirect taxes levied by various levels of government and help to (a) lower the tax incidence on organized manufacturing, (b) expand the narrow tax base, and (c) provide ease of doing business.
2. Shift of Trade from Unorganised to Organised Market.
3. Improving Efficiency
GST will be a destination-based tax on a comprehensive base of goods and services across the value chain. It aims to address the complexities in the current multiple taxation regime. It will subsume the plethora of indirect taxes levied by various levels of government and help to (a) lower the tax incidence on organized manufacturing, (b) expand the narrow tax base, and (c) provide ease of doing business.
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