Essay on GST with 900 words.
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GST stand for good services tax levied by the government in a move to replace all of the indirect taxes.The main idea behind introducing GST is to improve the economy of the nation.A single undivided indian market would strengthen the economy and make a nation, powerful as well.
The introduction of GST in the country has both the positive and the negative impact.
●The prices of products and services would reduce so this system would prove to be beneficial for the people who are fed up of paying huge prices.
●Corruption-free taxation system.
GST would introduce corruption free taxation system.In the present scenario,the tax is levied at the time of product release from the manufacturing site,and after that retailers also pay it.
●Most of the indirect taxes would now start coming under GST.The central excise tax is levied at the time of manufacturing but GST is levied till the selling stage.
●Market development.
GST would not be charged at every point of sale like other indirect taxes so this way,market would be developed.
The introduction of GST in the country has both the positive and the negative impact.
●The prices of products and services would reduce so this system would prove to be beneficial for the people who are fed up of paying huge prices.
●Corruption-free taxation system.
GST would introduce corruption free taxation system.In the present scenario,the tax is levied at the time of product release from the manufacturing site,and after that retailers also pay it.
●Most of the indirect taxes would now start coming under GST.The central excise tax is levied at the time of manufacturing but GST is levied till the selling stage.
●Market development.
GST would not be charged at every point of sale like other indirect taxes so this way,market would be developed.
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