GST (Goods and Service Tax) is an Indirect Taxation system, which is levied on the supply of goods and services, right from the manufacturer to the consumer. If yours is a GST-Registered Business, then you can claim credit to the value of GST you paid on the purchase of goods and services.
- All Tax Payer services are available online, hence this makes it easy and transparent.
- The tax rates and structure are uniform across the Nation. So, the location of your business does not matter.
- Reduction of Hidden costs in doing Business. This is ensured by the system of seamless tax credits all over the value chain, across the states.
- Transaction costs are reduced, and hence, there would be an increase in the trade competitiveness.
- The cost of locally manufactured goods is also reduced, which would be a great boost to the Indian Exports.