✔ GST Certificate with ARN and GSTIN Number
✔ GST HSN Codes with Rates
✔ GST Invoice Formats
✔ GST Return Filing Software
✔ GST Invoicing software
One of the advantages of GST is the end of different circuitous duties that existed before. Such a significant number of duties have been supplanted. Taxes like excise, CENVAT, sales tax, Service tax, octroi, turnover tax, and so forth are not relevant anymore and all those have come under common tax called GST.
GST applicability has brought about the elimination of double charging in the system for a typical man. Through this, the cost of goods and services has decreased & helped the basic man saving more money.
GST brought the idea of “One Nation One Tax”. That undesirable rivalry that existed before among the States has profited organizations wishing to do interstate business.
From assembling to utilization, GST is pertinent at all stages. It is giving tax credit advantages at each stage in the chain. In the prior situation, at each stage, the margin used to get added and tax was paid on the entire sum. Under GST the organizations are taking advantage of Input Tax Credit and tax is being paid on the measure of value addition only. GST has diminished the cascading effect of tax thereby reducing the cost of the product.
Because GST has diminished the cost of products, the demand, for few – if not all, products have extended. With the expansion in demand, to meet the expansion in supply, the work diagram has started going up.
The higher the demand, the higher will be the production. This concludes in a higher Gross Domestic Product (GDP).
Goods and services tax is a single tax that contains multiple earlier taxes and that incorporate the system efficient with some chances of corruption and Tax Evasion.
Manufacturing has become more aggressive with GST eliminating the descend effect of the tax, high logistics cost, inter-state tax. Delivering competitive as GST will address the descending effect of the tax, high log benefits, inter-state tax to the businessman and consumer.
Under the GST system, 17 indirect taxes have been supplanted into a solitary tax. The expansion in product request means higher tax revenue for state and central government.