Need A Financial Product › Forums › Tax Savings › How will GST benefit the common consumers? › How-will-GST-benefit-the-common-consumers_REPLY
September 17, 2014 at 7:34 pm
#47423
samkapoor77Keymaster
With the introduction of GST, all the long-term effects of Central Excise Value Added Tax (CENVAT) as well as the service tax will be comprehensively removed with a continuous chain of set-off from the producer’s point to the retailer’s point in comparison to what was possible under the existing and prevailing CENVAT and VAT regime. Eventually, the burden of tax on goods would fall under GST thus benefitting the consumers.