What is GST ? And how everything impacts from it?
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The Goods and Services Tax(GST) is a value added tax that will replace all the indirect taxes levied on goods and services by the government,both central and states,once it is implemented.
The basic idea of this bill is to create a single, cooperative and undivided Indian market to make the economy stronger and powerful.
Some of Disadvantages/Cons of GST in India are given below
• Some Economist say that GST in India would impact negatively on the real estate market. It would add up to 8 percent to the cost of new homes and reduce demand by about 12 percent.
•Some Economist says that CGST(Central GST), SGST(State GST) are nothing but new names for Central Excise/Service Tax, VAT and CST.
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