BENEFITS OF THE GOODS AND SERVICES TAX (GST)
- 17 types of indirect taxes have been merged in to one tax i.e Goods And Service Tax.
- Online Registration of dealer is done maximum within 3 days under GST.
- One nation one tax i.e. single rate is charged on same item in whole country. Previously there were different rates of tax in different states on same material.
- Simplification of GST Return is also made. Currently GSTR-1 and GSTR-3B are to be submitted online on monthly basis.
- There is no hurdle of checking on check posts on borders. Therefore, the quick movement of goods is made. Because of it lot of time and cost is saved.
- Previously, there was no input benefit of Central Sales Tax but now, Inter-state GST is eligible for input of tax credit.
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