Input tax set-off under GST expands credit chains, subsumes multiple levies and improves compliance to reduce average tax burden. GST expands input tax set-off and service tax credits, subsumes various Central and State levies and phases out the Central Sales Tax, creating a transparent chain of set-offs that widens the tax base and improves tax compliance, potentially lowering the average tax burden on dealers in industry, trade and agriculture.
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Input tax set-off under GST expands credit chains, subsumes multiple levies and improves compliance to reduce average tax burden.
GST expands input tax set-off and service tax credits, subsumes various Central and State levies and phases out the Central Sales Tax, creating a transparent chain of set-offs that widens the tax base and improves tax compliance, potentially lowering the average tax burden on dealers in industry, trade and agriculture.
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