The conversation between human and AI assistant.
What could be the effect of GST bill on Indian economy?
What about the impact on the service sector?
The service sector, which accounts for a significant portion of India's GDP, stands to benefit from GST as well. The current tax structure is complicated and fragmented, which increases compliance costs and makes it difficult for service providers to do business. GST will simplify the tax regime and reduce compliance costs, making it easier for service providers to operate.