How is GST a common man friendly tax?
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Positive Impact of GST on the Common man : A unified tax system removing a bundle of indirect taxes. Removes cascading effect of taxes. Manufacturing costs will be reduced,hence prices of consumer goods likely to come down. Reduced costs means some products like cars,FMCG etc.
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Positive Impact of GST on the Common Man
Positive Impact of GST on the Common ManIntroduction of Goods and Services tax eliminated the cascading effect of taxes i.e. tax on tax. GST reduced the burden of taxes from the manufacturing area, thus manufacturing costs will be reduced. ... Low prices will directly or indirectly increase demand/consumption of goods.
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