i want a paragraph on 'was the decision of gst right or wrong'
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GST will be very helpful in boosting Indian economy. It will definitely act as the booster for the Indian economy. It will be helpful for our nation to increase GPD
In present scenario there are different types of taxes levied like service tax, VAT, Excise etc. In GST regime there will be a single rate of tax. The tax will be charged on value addition only. This will lead to lower down the cost of products and services. After the introduction of GST law, the customer will be able to know that what is the actual tax he is paying for the product or services. In present taxation law, more than one taxes are levied on many goods and services and they are not even mentioned in the invoices many times so customers are not able to know that what is the actual amount they are paying as taxes.
In present scenario there are different types of taxes levied like service tax, VAT, Excise etc. In GST regime there will be a single rate of tax. The tax will be charged on value addition only. This will lead to lower down the cost of products and services. After the introduction of GST law, the customer will be able to know that what is the actual tax he is paying for the product or services. In present taxation law, more than one taxes are levied on many goods and services and they are not even mentioned in the invoices many times so customers are not able to know that what is the actual amount they are paying as taxes.
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