How is GST applied in the Retail Industry?

With the Implementation of GST, the double-taxation and the multiple-taxation system has been rolled out.

Over a long course of time, GST will help reducing the inflation rates along with elimination the cascading effect of multiple taxes.

Retail Industry will have a economically-favorable impact due to GST implementation. Following shall be the major aspects of Impact due to GST on retail industry:

• Reduced tax liability due to elimination of taxes like Excise, Service tax, Octroi, VAT etc.
• Streamlined Input tax credit availment.
• Overall better governance in compliance aspect as the rational purposes of the Suppliers and buyers of the Goods and services are inclined.
• Reduced Tax-evasion practices due to transperancy in GST governance.

We at ebizfiling.com can help you with getting GST registration at a nominal cost starting from Rs. 2,499/- (all inclusive) with the end to end support of our professional team.

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