Top 5 Features of Goods and Services Tax (GST) in India

One Nation, One Tax

GST replaced multiple indirect taxes at the central and state levels, unifying them into a single tax system across the country

Simplified Tax Structure

GST simplified the tax structure by categorizing goods and services into different tax slabs reducing complexity

Input Tax Credit

Businesses can claim Input Tax Credit (ITC) for taxes paid on inputs, reducing the overall tax liability and promoting seamless flow of credits

Threshold Exemption

Small businesses with an annual turnover below a specified threshold are exempted from GST registration

Online Filing and Payment

GST introduced a robust online portal for taxpayers to file returns, make payments, and manage compliance requirements

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