How can GST rationalization benefit the economy as suggested by Supriya Sule
Exploring the implications of GST rationalization on economic activities.
Supriya Sule's suggestion on GST rationalization highlights several potential benefits for the economy:
- Improved compliance: Simplifying GST structure can encourage better compliance among businesses, leading to increased tax revenues.
- Boost to consumption: Lowering tax rates on essential goods and services can stimulate consumer spending, thereby boosting economic activities.
- Promotion of exports: Rationalizing GST can make Indian products more competitive in the global market, promoting exports and increasing foreign exchange earnings.
- Enhanced ease of doing business: Streamlining the tax system can reduce administrative burdens on businesses, improving the ease of doing business in the country.
- Stimulus to investments: Lowering tax rates can attract more investments, fostering economic growth and job creation.
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9 months ago