What is meant by the GST bill? What will be the impact of it on car prices in India? What are its benefits?
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GST means Goods and Services Tax . It involves in excluding all the indirect taxes like service tax , VAT , etc , and instead putting up a single tax called GST. Now , if asked about cars , earlier people living in Delhi used to do a Haryana registration for their because then we had to pay less of road tax and other taxes and hence reducing the cost of the car , but when GST would be implied the cars would value the same , no matter from which state you buy it or register it for . As of the advantages of GST, there are countless advantages of it , but mainly our country would get stable as a whole and the money distribution will also be the same and there will be no difference among states in terms of money . This will happen because the center govt. will directly distribute the taxes among states and states are not allowed to take any taxs ( state taxes ) separately .
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