What Are The Benefits GST?
GST stands as Goods and Service Tax. Goods and Service is the common tax system that is proposed by the government. In simple words today we are paying multiple taxes such as excise duty, custcustomsy, value-added, octroi, service tax etc.GST is implemented all these taxes will be replaced by a single taxes which is called as [ Goods and Service ] Tax.If you want your business to register with the GST act in Delhi, then you should approach Tax Home.
Benefits GST: The GST is expected to give following benefits.
- Elimination of Multiple Taxes: The biggest benefit of GST is an elimination of multiple indirect taxes. All taxes that currently exist will not be in a picture. This means current taxes like excise, octroi, sales, CENVAT, Service, turnover tax etc will not be applicable and all that will fall under common called as GST.
- Saving More Money: For a common man, GST applicability means the elimination of double charging in the system. This will reduce the price of goods and services & help common man for saving more money.
- Easy Tax Filing and Documentation: For a businessman, GST will be a boon. No multiple taxes means compliance and documentation will be easy. Return filing, tax payment, and refund process will easy and hassle-free.
- Reduction in Tax Evasion: It is a single tax which will include various taxes, making the system efficiency with very little chances of corruption and Evasion.
- Increase in Revenue: It will replace all 17 indirect taxes with the single tax. Increase in product demand will ultimately increase tax revenue for state and central government.
- GST eliminates the cascading effect of taxes
- Higher threshold for registration
- Composition scheme for small businesses
- Simple and easy online procedure
- The number of compliances is lesser
- Defined treatment for E-commerce operators
- Improved efficiency of logistics
- Unorganized sector is regulated under GST
If you are looking for your business registration under the GST with the help of experts at Tax Home. They will give you the bet GST filing rates in Delhi. So approach Tax Home and enjoy various benefits under the GST.They offer services like company registration ,GST Registration, individual loan and international taxation in Delhi at an affordable and effective cost.They provides SSI Online Registration in Delhi for your business at the best cost.