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TOPICS eBOOK
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• Each and every transaction needs to be accountable and scrutinized;
hence it will reduce the circulation of black money to a large extent.
• If fiscal deficits remain under check, then revenue from taxes from the
government is likely to increase, which will further facilitate the
incorporation of new development projects.
• No excise duty will undeniably increase the rate of export, while it may
widen the scope of FDI (Foreign Direct Investment)
• A huge sigh of relief from VAT, CST and service taxes.
Conclusion: To sum up the whole thing, the immediate focus should be on figuring
out the ways to reduce the cost of compliances, so that it will enable the production
rate of small and medium manufacturing units. With quite a few clouds of
uncertainties hovering over heads, GST will only work out if the citizens and
government work in sync to streamline the overall process. Not an easy task, but
again a beacon for brighter and seamless economy.
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