How would the goods become cheaper after GST Comes into force

Question

Accepted Answer

GST can lead to cheaper goods through the elimination of cascading taxes and increased efficiency in the supply chain.

GST eliminates the cascading effect of taxes, where taxes are levied on top of taxes, resulting in higher prices.
Under GST, input tax credits can be claimed, allowing businesses to reduce their tax liability and pass on the benefits to consumers.
GST simplifies the tax structure and reduces compliance costs, which can lead to cost savings for businesses and ultimately lower prices for consumers.
Efficiency gains in the supply chain, such as reduced transportation time and improved logistics, can also contribute to lower costs and cheaper goods.
For example, prior to GST, a product might have been subject to multiple taxes like excise duty, VAT, and entry tax. With GST, these taxes are replaced by a single tax, resulting in cost savings.
Another example is the elimination of check posts and state borders, which reduces delays and transportation costs.

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