One tax for MANUFACTURER, TRADING SERVICES
ONE NATION : ONE TAX
GST is a comprehensive tax levy on manufacturer, sale and consumption of goods and services at a national level,it is a tax on goods and services with value addition at each level
It includes many state and central level indirect taxes.
It overcomes drawback present tax system.
eg:Income Tax, Corporate Tax, Wealth Tax
2. Indirect Tax
Excise Duty, Custom Duty, Service Tax, VAT.
2. EASE OF DOING BUSINESS:
3. DECREASE IN BLACK TRANSACTIONS
4.MORE INFORMED CUSTOMERS
Transparent Tax System.
Uniform Tax System Across India.
Reduce Tax Evasion.
Export will be more competitive.