GST FOR GROUP DISCUSSION

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Basically GST is an indirect tax which brings most of tax levied on the goods and services on
manufacturing, sales, consumption of goods etc under a single domain.
GST is the consolidated tax based in the fixed tax rate on good and services which is paid at
the final point of consumption.
Gst is going to make life simpler as it has replaced 17 indirect taxes and compliance cost is
going to fall due too it.
When all the taxes are integrated, it would make the tax system divide equally between the
manufacturing and services.
GST reform is expected to bump the GDP by 1% point or even more.
Revenue will also boost by the GST bill, evasion is all set to drop as input tax credit will
encourage suppliers to pay tax.
GST will be levied on the fnal point of consumption and not on various points which will help
in eradicating the economic distortion and bring about developing of common national
market.
GST will also result as an investment boost in India, for many capital goods input tax credit is
not available, full input under tax credit under GST means a 12-14% drop in the cost of goods
sold. Expected a 6% rise in the capital good market.
GST will also promote Make in India as manufacturing will get more competitive as GST
addresses cascading of tax, Interstate tax, high logistic cost & fragmented market. It will also
provide increased protection on Imports as GST provides countervailing dut