Question

disadvatage of gst income detail​

Answer 1

Answer:

GST Disadvantages

• Some Experts says that CGST(Central GST), SGST(State GST) are nothing but new names for Central Excise/Service Tax, VAT and CST. Hence, there is no major reduction in the number of tax layers.

Answer 2

Answer:

SMEs with a total income of Rs. 75 lakh could avail the composition scheme, pay a mere 1% tax on turnover and abide by less compliances; however, the trade-off is that they cannot claim credit for input tax. With GST, insurance premiums have become more expensive.