Easier compliance with taxes – instead of having to deal with various tax laws, companies will now have to pay GST alone instead of spending a great deal of time on legal advice and compliance. This provides a great relief and simplification and business predictability. The GST is being implemented to create a common market in all countries not only to avoid a deteriorating effect of indirect taxation but also to improve compliance with taxation.
GST will increase revenue in a more transparent and neutral way.Price reduction as input tax credit against output tax is available.
Simplified and cost savings system as procedural costs reduce all types of taxes due to uniform accounting. Only three accounts; CGST, SGST, IGST. GST is structured to simplify the existing indirect system. This is a long-term strategy that will lead to higher output, more jobs and the growth of the economy.