GST For Small Traders
S. Pavithra
Commerce
August 2023
The Goods and Services Tax (GST) system aims to simplify and clarify taxation for consumers while also bolstering India's economy. Every step of value creation will be subject to this indirect tax based on where the final product will be used. It is a plan to merge all indirect taxes collected by local, state, and federal governments into a uniform national market tax. Since our nation's independence, no tax reform plan has been more ambitious than this one. Advantages in the form of input tax credits were also planned for enterprises who registered for the GST. Our prior research has shown that GST has the potential to significantly improve the current tax system by introducing uniformity and increasing transparency.
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