GST (Goods and Services Tax) is India’s Biggest Indirect Tax Reform. A comprehensive dual GST was introduced in India from 1 July 2017. Current scenario of world economy depicts that more than 140 nations, worldwide use GST system. Like Canada, India adopted dual GST (CGST and SGST) system.
GST chiefly removes the cascading effect on the sale of goods and services. Elimination of cascading effect directly impact the cost of goods. Since the tax on tax is eliminated in this regime, it ultimately results into the decrease of cost of goods and services that benefits the end users or citizens.
Mr. Narendra Modi, Honorable Prime Minister keenly emphasizes on digitalization of all major procedures or documentations since BJP government gained the power in central in 2014. GST is one of the most ambitious and visionary decision by The Government of India.
Entire process of GST is digitalized and technologically driven. GST portal has been launched to simplify entire process, gain maximum accuracy and remarkable speed. Using this portal, one can complete all the steps like registration, return filing, application for refund and response to notice very easily.