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  • GST

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    Junaid Sayyad
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    GST stands for Goods and Services Tax, which will replace various indirect taxes in India like VAT, excise duty, and entertainment tax. Some key pros of GST are that it will make the tax collection process more transparent and easy, eliminate hidden taxes to lower the cost of doing business, and potentially lower prices as operational costs decrease. However, some economists argue that GST may negatively impact the real estate market by increasing housing costs up to 8% and reducing demand by 12%. Additionally, some see CGST and SGST as simply new names for existing taxes rather than a true reduction in tax layers.

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    pros and cons of GST

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    GST stands for Goods and Services Tax, which will replace various indirect taxes in India like VAT, excise duty, and entertainment tax. Some key pros of GST are that it will make the tax collection process more transparent and easy, eliminate hidden taxes to lower the cost of doing business, and potentially lower prices as operational costs decrease. However, some economists argue that GST may negatively impact the real estate market by increasing housing costs up to 8% and reducing demand by 12%. Additionally, some see CGST and SGST as simply new names for existing taxes rather than a true reduction in tax layers.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    63 views6 pages

    GST

    Uploaded by

    Junaid Sayyad
    GST stands for Goods and Services Tax, which will replace various indirect taxes in India like VAT, excise duty, and entertainment tax. Some key pros of GST are that it will make the tax collection process more transparent and easy, eliminate hidden taxes to lower the cost of doing business, and potentially lower prices as operational costs decrease. However, some economists argue that GST may negatively impact the real estate market by increasing housing costs up to 8% and reducing demand by 12%. Additionally, some see CGST and SGST as simply new names for existing taxes rather than a true reduction in tax layers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    Pros and Cons of GST

    .
    What is GST ?
    GST stands for Goods and Services tax

    GST will implemented in every transaction of


    goods

    GST will replace various indirect taxes like


    value added tax (VAT), Different state taxes,
    Central surcharges, Excise duty,
    Entertainment tax, Luxury tax etc
    Pros of GST bill
    GST reduces the indirect taxes which will make the
    process of tax collection transparent and easy.

    It will eliminate all the hidden taxes and the cost of


    operating a business will be lower

    With reduced operational cost, prices of products or


    services will come down benefitting people

    Taxation work will be equitably divided between


    manufacturing & Services

    GST will also help to build a transparent and corruption


    free tax administration.
    Cons of GST in India
    Some Economist say that GST in India would
    impact negatively on the real estate market.
    It would add up to 8 percent to the cost of
    new homes and reduce demand by about 12
    percent.

    Some Economist says that CGST(Central


    GST), SGST(State GST) are nothing but new
    names for Central Excise/Service Tax, VAT and
    CST Hence, there is no major reduction in the
    number of tax layers.
    THANK YOU

    The Economic Times

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