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Why GST is necessary for India?

  • Nice work
  • 1) International Competitiveness will increase by about 5%
  • 2) Increased Foreign Direct Investments due to improve ease of doing business and serious reform measures
  • 3) Common Market- Tax distortions due to differential tax structures and entry tax impositions. Further check post delays would not be there.
  • 4) Lower transaction cost (multiples returns on different events at different rates in different States.
  • 5) Increased IDT revenue as grey market operators would slowly start joining the mainstream.
  • 6) This would also lead to increased Direct Tax Revenue due to higher sales/ services disclosure.
  • 7) GDP Growth will go Up by about 1 -2 % after the new law stabilizes (2018-19) .

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