Study of GST Structure and its benefits in India
Keywords:
GST,, India,, Parliament,, Consumers,Abstract
GST implementation is one of the best decisions the Indian government has made. For the same reason, India's Financial Independence Day was observed on July 1st, with all members of Parliament attending a celebration at Parliament House. It would be difficult to make the transition to the GST regime, which is recognized by 159 countries. Confusion and complications were and will be expected. India had to submit to such a government at some point. Though the system isn't ideal, once in place, it will make India a more attractive investment destination. Until now, India was a confederation of 29 minor tax economies and 7 union territories, each with its own set of levies. It is a well-liked and respected system since it eliminates the need for different tax rates at the federal and state levels. And if you own abusiness, you should register for GST because it will not only benefit the Indian government, but it will also assist you in tracking your business on a weekly basis, as you will be required to file a business activity statement each week under GST
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