MASTER GST, LLC
JACKSONVILLE, FLORIDA

The tax structure will be made lean and simple. The entire Indian market will be a unified market which may translate into lower business costs. It can facilitate seamless movement of goods across states and reduce the transaction costs of businesses. It is good for export oriented businesses. Because it is not applied for goods/services which are exported out of India. In the long run, the lower tax burden could translate into lower prices on goods for consumers. The Suppliers, manufacturers, wholesalers and retailers are able to recover GST incurred on input costs as tax credits. This reduces the cost of doing business, thus enabling fairer prices for consumers. It can bring more transparency and better compliance. Number of departments (tax departments) will reduce which in turn may lead to less corruption. More business entities will come under the tax system thus widening the tax base. This may lead to better and more tax revenue collections. Companies which are under unorganized sector will come under tax regime. Since GST replaces many cascading taxes, the common man may benefit after implementing it. But it all depends on ‘what rate the GST is going to be fixed at?’ Also, Small Traders (based on Annual Business turnover) may be exempted from it. One Stop to Manage all your clients/ Business / GSTNs One Stop to Manage all your clients/ Business / GSTNs