Disadvantages of GST
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Answer:
Disadvantages of GST
GST Scheme has increased the cost of operation. ...
Increased tax liability on SMBs. ...
Enhance burden of compliance. ...
Penalties for non-GST-compliant firms.
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Answer:
GST, or the Goods and Service Tax, is hailed as one of the biggest tax reforms of the nation. It is an indirect tax introduced to incorporate various central and state taxes like VAT, Excise, Service Tax and others. Since the implementation of GST in 2017, there have been several amendments in the rules and tax brackets. However, there are still debates about the new taxation scheme; it is up to the taxpayers to decide the benefits of GST in India by comparing the advantages and disadvantages of GST.
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