Goods & Services Tax: One Nation One Tax: For Everyone.

GST - Goods & Services Tax Benefits: 

• To Create a unified Common national market.
• To boost economy: generate more employement.
• Reduction in Compliance costs.
• Multiple Record not required to maintain.
• Uniformity in Tax laws & Procedure across Centre & States.
• Lower Tax Rates.
• Simplify Business Operations.
• Add to GDP.
• More & Easy Foreign Direct Investement.
• No or Minimum Tax Evasion.
• Daily usable Items could be more economical.
• Transforming India from Political union to Economic Union.

GST Impact  Areas - EY Advocacy:

• Treatment of State incentive packages.
• Impact of non-creditable 1% origin tax on inter-state supplies of goods.
• Products to attract lower GST ratesExemption of GST on imports / domestic procurements.
• Refund / Exemption of 1% additional tax GST rates.
• Exemption of GST on imports / domestic procurementsPlace of supply rules to determine export of services?
• High seas sale / in-transit sales: Treatment under GST.