About GST
What is GST:-( One t ax one nation ) Goods and Services Tax bill is India’s biggest reform in India’s indirect tax structure. The purpose of the bill is to introduce one single tax on supply of goods and services, from the manufacturing stage until its delivery to the final consumer. The final consumer of the goods and/or services will only have to bear the GST charged by the final dealer in the supply chain, and avail set-off benefits at all the previous stages. This means interim tax stages such as excise duties and service tax and state levies like VAT will be absorbed under GST. Benifits of GST:- The introduction of GST bill will help in simplifying administration as it removes multiple taxation systems at every stage of trade model and removes disturbances in production. It also aims towards providing a uniform tax rate for all goods and services. The manufacturers will be benefited by the tax regime as it will reduce the tax that levied on them....