GST Connect provides ability to scope, define and map business processes required to be changed before first GST invoice is cut. GST Connect also helps identify registrations, payment – information that will be modified and tracked.
The Goods and services tax is a uniform indirect tax levied on all goods and services produced in the country and all goods and services imported from abroad.
- Single uniform indirect tax which will treat India as one market
- Replaces all Central and state indirect taxes like CENVAT, excise, customs, VAT, state excise, etc.
- Enables a benefit to the economy from a single price of a product across the country & more simplified tax system
- Ends the long-standing distortions arising out of the differential treatment of the manufacturing and service sectors
- Enables broadening of the tax base, which will further result in reduction in effective rate of tax