what is the impact on GST?
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hey friend
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I hope that this answer helps you
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the lok Sabha has passed the goods and services tax ( gst) and it is expected to have a significant impact on every industry and every customer. this will be done by simplyfying and unifying the indirect taxes 4 all states throughout India..
# GST objectives
*ensuring availability of input credits across the value chain..
*minimizing cascading effect of taxation
*simplification of tax administration and compliance
*harmonization of tax base, laws and administration procedures across the country..
* minimizing tax rate slabs to avoid classification issues
* prevention of unhealthy competition among states.
* increasing the tax base and compliance..
# implementation challenges
*lack of adaptation
*lack of trained staff.
* double registration can increase compliance and cost.
*lack of clear mechanism to control tax evasion..
______
£thank you
_______
£if you liked then plz mark as brainliest
______
£££££££
_____
I hope that this answer helps you
____
the lok Sabha has passed the goods and services tax ( gst) and it is expected to have a significant impact on every industry and every customer. this will be done by simplyfying and unifying the indirect taxes 4 all states throughout India..
# GST objectives
*ensuring availability of input credits across the value chain..
*minimizing cascading effect of taxation
*simplification of tax administration and compliance
*harmonization of tax base, laws and administration procedures across the country..
* minimizing tax rate slabs to avoid classification issues
* prevention of unhealthy competition among states.
* increasing the tax base and compliance..
# implementation challenges
*lack of adaptation
*lack of trained staff.
* double registration can increase compliance and cost.
*lack of clear mechanism to control tax evasion..
______
£thank you
_______
£if you liked then plz mark as brainliest
______
£££££££
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