Why to pay for GST?

[niyati]

I’m trying to understand why we have to pay GST on goods and services. What’s the purpose of this tax, and how does it benefit the economy or government? Also, what are the consequences if a business doesn’t pay GST properly?

 

[Gsusangrey]

GST (Goods and Services Tax) is paid to fund public services like infrastructure, healthcare, and education. It’s a consumption tax levied by the government on goods and services, ensuring revenue for national development.

 

[Jarwish]

Paying GST (Goods and Services Tax) ensures compliance with tax laws, avoids penalties, and supports national development by funding public services like infrastructure, healthcare, and education. It also allows businesses to claim input tax credit, reducing overall tax burden.

 

[ankita]

GST prevents cascading of taxes by providing a comprehensive input tax credit mechanism across the entire supply chain. Such a seamless availability of Input Tax Credit across goods or services at every stage of supply will enable streamlining of business operations.