|Image credits: Telegraphindia.com|
If GST is successfully implemented then the country will benefit a lot from it. It would generate more job opportunities; loss in revenue would be reduced, economic growth and development. It would also eliminate the cascading effect of taxes which means “taxes upon taxes”. Introduction of GST would simplify trade and consumption, eliminate economic deviations, and simplify administration. It will act as a replacement for all the forms of indirect taxes thereby making the economy more functional and efficient.
Article by Anisha Dutta
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