9 Things to Know About the GST Bill
BENGALURU: The recent winter at the parliament session just passed without much progress, the Goods and Services Tax (GST) Bill that was anticipated to be passed in respective session was sidelined by conflicts between ruling party and opposition allies. But the GST bill was highly discussed by the national media and reflected the national party’s interest in passing the bill. So what is GST all about? Why is it important for our economics? Down goes an explanation in 9 points, as reported by the NDTV Profit.
Tax Deductions
As claimed by the government the GST will reduce an ample amount of taxes that are imposed by the state and the union government and directs to formation of an integrated market. This is expected to result in free-flow movement of goods across states and ease the transaction expenditure of businesses.
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