Good Sides of GST

The Goods and Service Tax is a system of taxation where there is a single tax in the economy for goods as well as services. This is meant to bring together the state economies and create a single taxation system in the entire country for all goods and services. It is based on a tax-on-value-add concept which avoids duplication of taxes.The GST suppose to eliminate all the indirect taxes.

The GST is worldwide accepted system. France is the first country that introduced this. GST is considered for the goods sold as well as for the services provided.

• When GST is introduced the price of a product suppose reduced. A fall in price generally increases the product demand. Not only the price reduces but also the working capital too. GST makes the price of a product unique throughout the country.