The benefits of GST (Goods and Services Tax) include a single and unified tax system, replacing multiple state and central taxes, which simplifies the tax compliance process. GST also helps to reduce cascading taxes, eliminating the need for businesses to pay taxes on taxes, and increases the ease of doing business across states. Additionally, GST provides a wider tax base, which can lead to lower tax rates and increased revenue for the government. It also promotes a culture of transparency, accountability, and good governance. Furthermore, GST helps to reduce tax evasion and avoidance, as it provides a robust and technology-driven tax administration system. Overall, GST is expected to improve the overall efficiency and effectiveness of the tax system in India.
