Internet connection sharing using iptables

Scenario ― I have several virtualbox GUEST machines, using an internal network on my PC. Now, I wanted to share host machine's internet connection to guest machines. I searched on the web how to do it using iptables. Most of the solutions seem too complex. Here is a working simple solution (found on centos documentation)

On Host Machine — type these commands in Terminal.

thura @ ~ $ sudo iptables -A FORWARD -i vboxnet0 -j ACCEPT
thura @ ~ $ sudo iptables -A FORWARD -o eth1 -j ACCEPT
thura @ ~ $ sudo iptables -t nat -A POSTROUTING -o eth1 -j MASQUERADE

That's it. Now you can access the external network of host machine from guest machines. To access Internet, you may need to edit /etc/resolve.conf in your guest machine.

# Dynamic resolv.conf(5) file for glibc resolver(3) generated by resolvconf(8)
#     DO NOT EDIT THIS FILE BY HAND -- YOUR CHANGES WILL BE OVERWRITTEN
nameserver 8.8.8.8