The Goods and Services Tax (GST) is going to hit the Indian Consumers in July 2017.
Are we all set to accept it?
Is GST going to be a benefit to the consumers? Let’s wait and see how it’s actually going to work in the Indian Economy.

What does GST do?
It levies a tax on the value added to a product. The product life cycle has many steps and this GST will be levied on each and every step of that. From the manufacturer to the end consumer, everyone has to pay his/her share to the government. Every stage of product generation creates additional value to that product and GST actually aims at the value-added part.

Will the Consumers benefit from GST?
Definitely yes, the consumer is the person who actually benefits from GST. The Indian economy has a tax structure which is divided into two i.e., the direct tax and indirect tax. The burden is always passed on to the next user till it is finally laid on the shoulders of the consumer. The consumers will be partially freed from the tax burden once GST is implemented.

Ultimately, the tax structure in India will be under control and there will not be any kind of partiality in the levy of tax to the government. Whereas, the tax payment will be at par among all the sectors which will directly push for the development of the country thereby enabling India to become a better nation.