How GST is beneficial for the Indian economy?

Question

Accepted Answer

GST has benefited the Indian economy by simplifying the tax structure, increasing revenue, and promoting ease of doing business.

GST has replaced multiple indirect taxes with a single tax, making the tax structure simpler and more transparent.
It has increased revenue for the government, which can be used for infrastructure development and social welfare programs.
GST has also promoted ease of doing business by reducing the compliance burden for businesses.
It has led to the formalization of the economy, with more businesses registering under GST.
GST has also helped in reducing the cascading effect of taxes, making goods and services more affordable for consumers.
It has facilitated the growth of e-commerce and logistics industries, as GST has made inter-state movement of goods easier and more efficient.

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