Benefits of GST to economy and business in number of ways:
- Reduction in cascading and double taxation
- Reduction in multiplicity of taxes.
- Neutralize taxes especially for exports.
- GST will promote Development of common national market.
- Simplified tax structure by:
1) Reduced Tax rates and exemptions
2) Good and service clarity
- Simplified taxation for works contract transactions
- Simplified compliance for small traders and service providers