Monday, June 19, 2017

What is GST How is It Beneficial for Citizens and NRIs

What is GST How is It Beneficial for Citizens and NRIs

What’s GST?

As aforementioned, the GST stands for the Goods and Services Tax. It eliminates payment of multiple taxes levied in various forms. Indeed, it’s an indirect tax that is constituted to kick out the pain of paying multiple taxes.



Earlier, around 20 types of different taxes were levied on multiple goods and services. Some of them were imposed upto 50% of the total cost. Thereby, the commoners had to bear unwanted pain of multiple taxes on one product/service. But very soon, this revised law would level all taxes up to 18%. It implies that the products and services in Delhi would cost similar to the same product and services in any other state, like Mumbai, Kolkata and Chennai.
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