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Get GST Ready Invoices
No matter what your business’s specific billing requirements are, SalesBabu can help you!
GST is probably the biggest tax reform ever made in India, so read along to see the major benefits this could bring to your business.
Eliminating CST (Central Sales Tax) plus other state entry taxes, free movement of goods across the country has been enabled with the help of IGST. This means that businesses will be able to sell more in other states, helping the logistics sector save more annually.
By applying a single tax, the cost of goods will go down. Businesses will benefit from reducing this tax burden and consumers will enjoy cheaper products. GST tax is beneficial because it only applies to value addition and removes tax cascading.
The simplified tax structure results in reducing the hassle filling tax forms by merchants. All aspects from registration for GSTIN to filing monthly tax returns and payments will be managed through the online GST portal.
With less tax laws, there will be less intervention from tax authorities. GST will combine all current tax departments and authorities into one, hopefully bringing more transparency.
The government loses around Rs.3.1 lakh crore due to excise duty exemptions. With GST, the number of exemptions offered by the government is expected to lower, thus minimizing the loss.
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