Tuesday, 13 June 2017

IMPACT OF GST



  • A unified tax system removing a bundle of indirect taxes like VAT,CST,Service tax, CAD,SAD, Excise etc.
  • Less tax compliance and a simplified tax policy as compared to earlier tax structure.
  • Removes cascading effect of taxes i.e. removes tax on tax.
  • Due to lower burden of taxes on the manufacturing sector, the manufacturing costs will be reduced, hence prices of consumer goods likely to come down.
  • Due to reduced costs some products like cars, FMCG etc. will become cheaper.


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