Under GST, most of the indirect taxes shall be subsumed. Input tax credit shall be seamlessly available and hence some taxes like entry tax, LBT, CST, etc. which were Earlier costs shall be eliminated. Even certain credit reversals currently prevalent under State VAT will be removed and thus cost to that extent will go down. Any change in costs shall have change in the pricing of the products as well. In such scenario, to remain competitive, businesses shall have to start readjusting their prices of finished goods/services considering the GST model.

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