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The GST, kn_own as the Goods and Services Tax, has brought a revolution in Indian economy. Under it, the economy of the country sees an economic integration. Many developed countries introduced such taxations for ease and suitability of the taxpayer. Now India has also started following their footsteps.
Because of GST, various taxes have got consolidated into one. It hastiness indirect taxation and made the taxation process simpler. The entire endeavour aims at avoiding double taxation. Besides, the discrepancy between goods and services has been abridged, thanks to GST. The most important benefit is that it has made tax submissions easier.
Undoubtedly, GST has made the transactions more transparent than before. |t has reduced the cost of doing business and the prices of many things. It is obviously an important tool that helps the tax administration to work corruption free.
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