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Advantages of Benefits to Customer Effects of GST

With GST, the outflow has been effectively reduced and hence eliminated the cascading effect of taxation. These are possible only if the actual benefit of GST is passed on to the final coustomer.<br>Related Link = https://bit.ly/2VSrRFG

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Advantages of Benefits to Customer Effects of GST

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  1. Benefits And Effects Of GST To Customers GST stands for Goods and Services Tax. With the entry of GST, several indirect taxes like Service Tax, VAT, Excise, etc. has been removed. The main motive to implement GST was to merge all indirect taxes into one. To eliminate the loopholes and limitations in indirect taxes, the government decided to transform the tax structure. To file your GST and for accounts related support, you can contact KNTX, which provides the best GST Consultant in Greater Kailash.

  2. 1. Discount in the price of goods and services: • GST is a kind of tax which is collected at each level of a supply chain. In the earlier indirect taxes, in some cases you have to pay tax on the taxes, which is known as cascading effect of tax. It lead in the increment of cost ultimately. • In GST this cascading effect is eliminated,and now the final price of goods and services is lowered due to the continuous flow of Input Tax Credit (ITC) between the manufacturer, retailer, and service provider. • 2. Equal prices throughout the country • In the previous tax system, the State Value Added Tax (VAT) was imposed on the sale of goods. The rate of tax was different in different states, so there was a difference in the prices. As GST is One Nation One Tax, so the prices of goods and services are uniform throughout the country.

  3. 3.Faith in simpler tax structure: • The earlier indirect taxes were quite difficult to understand for a common man. GST is a tax system which is transparent and trustworthy. It is beneficial for consumers as well as businesses because everything is computerized. • 4. Easy availability of goods and services • As the prices of goods and services are uniform throughout the nation, the consumer does not have to visit other states in order to save the tax. This not only saves your time but also your money.

  4. Effects of GST Many businesses try to burn a hole in the customer’s pocket in the name of cess. Businessmen pass the economic tax burden on the customers. In certain goods like tobacco products, aerated water, and motor cars, extra cess is imposed; which makes the goods costlier. KNTX has been delivering quality services to its customers by providing the best GST Consultant in East Delhi and building a trustworthy relationship.

  5. Original Source =Benefits And Effects Of GST To Customers REG. OFF. : 128, RANI GARDEN, SHASTRI NAGAR, DELHI-110031 +91-8178417957, +91- 9873990508 +91-9873416916, +91-7703984267 info@kntx.in, email - tonkj@gmail.com, sumeshsag@gmail.com

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