LISTS OF BENIFITS OF GST INVOICE SOFTWARE:
1. Life to get bit simpler:GST is expected to replace seventeen indirect taxes, eventually leading to falling in compliance cost.
2. Boost in revenue:The evasion is set to drop, which means that that input tax credit shall motivate the suppliers to pay the taxes. The central and state government will have duplicate oversight. This will eventually reduce the number of goods that are tax-exempt.
3. A unified common marketplace:At present the market is fragmented along the state lines, pushing the cost by twenty to thirty percent.
4. The cost of inventory and logistics to fall:The checks at the state border will slow the movement of trucks.
5. Boost investment:For most of the capital goods, there is no availability of input tax credit. The complete input of tax credit under GST shall mean a drop of 12-14% of the actual cost of capital goods. Forecast – six percent rise in the capital good investment and two percent overall.
6. Economically weaker states get a boost:The present two percent of inter-state levy means that the production is kept within the states. With GST national market coming into execution, this thing can be dispersed, thereby leading to some incredible opportunities for the economically weaker states.
7. Lower cost of manufacturing goods will lead to economic tax and logistic services:With the manufacturing goods becoming cheaper, the tax and logistics for them would also get economical.
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