Perceived Benefits
To Traders
- Reduction in multiplicity of taxes
- Mitigation of cascading/ double taxation
- More efficient neutralization of taxes especially for exports
- Development of common national market
- Simpler tax regime
A) Fewer rates and exemptions
B) Distinction between Goods & Services no longer required
To Consumers
- Simpler Tax system
- Reduction in prices of goods & services due to elimination of cascading
- Uniform prices through-out the country
- Transparency in taxation system
- Increase in employment opportunities