Wednesday, May 10, 2017

gst single tax to promote indian trade and industry

 Goods and Service Tax
Single tax to Promote Indian Trade and Industry


 
Spurring Economic Growth
  • Filip to making india a manufacturing hub
  • To create a unified common national market
  • To boost investment & exports
  • To generate more employment by increased economic activity.

Promoting Trade & Industry

  • Common procedures for registration, duty payment, return filing, refund of taxes
  • More efficient neutralization of taxes to make our exports more competitive internationally.
  • Seamless flow of tax credit from manufactures/supplier to user/retailer to eliminate cascading of taxes
  • Benefit of exemption/compounding scheme for a large segment of small scale suppliers to make their products cheaper.

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