Discuss the merits and demerits of goods and services
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Abolition of Multiple Layers of Taxation : One of the advantages of GST is that it integrated different tax lines such as Central Excise, Service Tax, Sales Tax, Luxury Tax, Special Additional Duty of Customs, etc. into one consolidated tax. It prevents multiple tax layers imposed on goods and services.
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Increased costs due to software purchase. Being GST-compliant. GST will mean an increase in operational costs. GST came into effect in the middle of the financial year. GST is an online taxation system. SMEs will have a higher tax burden
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