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The benefits of GST can be summarized as under:

For business and industry

o Easy compliance: A robust and comprehensive IT

system would be the foundation of the GST regime in

India. Therefore, all tax payer services such as

registrations, returns, payments, etc. would be

available to the taxpayers online, which would make

compliance easy and transparent.

o Uniformity of tax rates and structures: GST will ensure

that indirect tax rates and structures are common

across the country, thereby increasing certainty and


ease of doing business. In other words, GST would

make doing business in the country tax neutral,

irrespective of the choice of place of doing business.

o Removal of cascading: A system of seamless tax-credits

throughout the value-chain, and across boundaries of

States, would ensure that there is minimal cascading of

taxes. This would reduce hidden costs of doing


o Improved competitiveness: Reduction in transaction

costs of doing business would eventually lead to an

improved competitiveness for the trade and industry.

o Gain to manufacturers and exporters: The subsuming

of major Central and State taxes in GST, complete and

comprehensive set-off of input goods and services and

phasing out of Central Sales Tax (CST) would reduce

the cost of locally manufactured goods and services.

This will increase the competitiveness of Indian goods

and services in the international market and give boost

to Indian exports. The uniformity in tax rates and

procedures across the country will also go a long way in

reducing the compliance cost.

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