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Features of GST

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notes

  •  Many Indirect Taxes are subsumed under GST. 
  • No dispute between Goods and Services.
  •  Statewise Registration for traders. 
  • GSTIN holder needs to keep all the records and should pay GST in time. 
  • Transparency in transactions.
  •  This tax system is simple and easy to understand . 
  • Removal of cascading effect of taxes hence the prices are controlled
  •  Increase in Quality of Goods and Services as they are globally competetive. 
  • Boost to ‘Make in India’ project. 
  • Technology driven tax system leads to speedy decisions.
  •  Goods and Service Tax system is a Dual model, as equal amount of tax is levied
    by Central and State governments.
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