Illustrations · Q6
Q.Explain any three benefits of GST to
(a) business and industry,
(b) the Central and State Governments, and
(c) the final consumer.
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Start your 14-day free trial to unlock the full solution →| For | Benefits (any three) |
|---|---|
| Business and industry | Easier compliance (single registration/return system); removal of the cascading tax-on-tax effect, lowering effective input costs; a uniform tax structure/rates nationwide, removing the need to plan around State-to-State tax differences |
| Central and State Governments | A simpler, single-window administration in place of many separate tax departments; better tracking of the value chain through invoice-matching, reducing leakage; a shared constitutional forum (the GST Council) for jointly deciding rates and resolving Centre-State issues |
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