9 Things to Know About the GST Bill

State and Center

Well, as most of us are aware about various taxes that are being imposed on every individual and on all sectors of business by the both central and state governments. Thus GST is intended bring all such taxes under one moniker. As of now the central has imposed excise duty, service tax and additional customs duties. Similarly, the state governments have imposed taxes like entertainment tax, luxury tax, lottery taxes, electricity duty, central sales tax, value added tax (VAT).

Rise in GDP:

The Bill is expected to be lucrative to our economy, since two percent GDP rise is estimated after implementation of the bill. Supporting the government’s statement, the economic experts have also given out similar statements.

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