8 Things About GST Returns That Will Help Make Filing Easy For Your Business
If you are an entrepreneur running a business in India it is necessary for you to be GST compliant. GST or Goods and Service Tax is a single, uniform tax on products and services. This tax is the same right from the manufacturer to the consumer and for businesses, it means 100% online compliance and uniformity of tax structures.
Since its inception, GST has been a revolutionary taxation amendment introduced with the aim of having a single, uniform tax structure across the country instead of the previous multiple taxes which were levied at different rates in different States. These multiple taxes created a tax burden on businesses, and especially on the consumers. GST helped do away with the various taxes (such as VAT, octroi, excise duties, import and export duties, service tax, luxury tax, etc.) and streamlined the entire taxation structure and process.