The Goods And Service Tax, A Whole New Tax Regime
Posted by glainmax55 on May 24th, 2016
The goods and services tax in India set to reform the entire tax regime in the country and is slated to be the most comprehensive tax structure change since independence in 1947. Doing away with a multitude of taxes both at the central government level and the state government levels, the GST aims to rationalize the tax regime. Removal of the cascading nature of taxes, some that go a long way back, does bring about greater transparency and easier implementation. The new tax regime is set to create a pan India market with minimal monitoring points and fewer implementation steps. No more, would there be the long queues at each state border check point. This ensures free movement of goods, bringing about greater logistical efficiencies.
About the Authorglainmax55
Joined: June 21st, 2014
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