What we all see in our daily life when ever their is any change taken place in our daily routine we all start worrying about that even it was in our favor. Same is happening with GST . When Indian GOV introduced GST every one start protest against it as it was our nature we always want to move in the same direction with an ease we don’t want to change our routes we repel that change .
IMPACT OF GST ON EXPORT.
- GST simplified the tax structure and also minimize the cost for small business.
- The input tax credit mechanism will reduce the cost of input and taxes paid by the exporters which will reduce costs for them. Input tax credit is the refund received of the amount of input tax paid while manufacturing a product.
- Evolution of an alternative GST mechanism for exports to ensure that SME exporters don’t face liquidity or working capital pressures.
- GST reduces the cost of production thus increse profit margin whis leads to increase the amount of input foreign currency.
- The basic custom duties are exempted thus their is no tax on export.
so here by the conclusion is that their is benefit for exporters by implementation of GST .GST SIMPLIFIED the process by only implementing single type and single rate tax.