There are several advantages of GST, some are mentioned below:
As we all know that the production and distribution of goods and services are rapidly used and consumed. Therefore, the government levies separate taxes for goods and services. The GST will integrate all tax as service and vat tax thereafter you will not have to pay different-2 taxes. GST will reduce the extra burden of taxation.
There will not be any cost to registered retailers and there will be no extra taxes, therefore any type of business might start at low cost.
By implementing GST India will gain around $15 Million Dollars per year.
GST will create a transparent and corruption free tax system. At present time, the manufacturer pays a tax when the products move outside from his workplace, and a tax also levies when the retailer sells the products.
It will help to promote the exports.
It will also raise employment and boost the growth of India.
The end of cascading structure of tax is expected to attract more and more foreign investors in the country.