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of <h1>India's GST Reform: Unified Tax System Reduces Burden, Boosts Competitiveness, Spurs Growth, and Simplifies Compliance.</h1> The introduction of the Goods and Services Tax (GST) in India is a major reform in indirect taxation, combining multiple Central and State taxes into a single tax. This change aims to reduce the cascading effect of taxes and create a unified national market. Consumers are expected to benefit from a reduced overall tax burden on goods, estimated at 25%-30%. GST is anticipated to enhance the competitiveness of Indian products both domestically and internationally, spur economic growth, and potentially increase revenue for the government through a broader tax base, higher trade volumes, and improved compliance. Its transparent nature also simplifies administration.
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