If implemented successfully, it is expected to add up to 2 per cent to the country’s gross domestic product, increase the tax base and ensure revenue buoyancy...
The retail industry too will see an indirect impact due to increased efficiencies in the supply chain and cost to customer will go down as the multiplicity of taxes will no longer apply...
Once implemented, the Bill will convert the country into a unified market, replacing most indirect taxes and subsuing all those into a single tax regime...