Goods and Services Tax (GST) is a reformatory legislation which is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Ease the administration and enforcement for the government as well as the businesses In Line with Governments One Nation One Tax Policy Transparency in transactions Revenue will get a boost. Input tax credit will encourage suppliers to pay.
Due to availability of input tax credit on Capital Goods, cost of capital goods will decrease. GST Network will post scoring of Registered Vendors. GST will lead to common market nationwide .Transactions with GST Number would give easy access to Input Tax Credits .All existing Input Tax Credits automatically are available in GST if provisional registration done in time.