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But, will GST pave way for a better economy?

 Yes in the industry sector:

  • Direct tax is collected
  • Cascading tax effect is not seen
  • Tax market is single
  • Regime created on Tax is simple and understandable.
  • Smaller units have an option to choose composition scheme.
  • Tax filing and payment is available online.
  • Logistics have become efficient.

For Government:

  1. Encouraging Make in India campaign and investments from foreign nationals.
  2. Export and manufacturing activity are encouraged.
  3. Business start-up or carrying over the firm had become easy.
  4. Tax Evasion has drastically reduced.
  5. Administering a firm is simple and made easier.
  6. The Government has shown increase in profit.

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