Question

Essay on advantages and disadvantages of goods and services tax (gst)

Answer 1

ADVANTAGES OF GST -

Simplified and Transparent tax system to allReduction in Sales price of Mandatory goods due to less GST Rates and elimination of cascadingOne Tax Rate throughout the country results in Same Price of goodsWith New type of Tax there will be Increase in employment opportunitiesDouble taxation will be End. No Tax over the Tax NowAdvantages of GST to Trade is that it will promote Exports with single type of TaxOne India One MarketSimplified Tax System.Get Input credit on all Purchases and services

DISADVANTAGES OF GST -

The Service Tax in India is now 15% but the proposed GST is about 18-20%. All the services will be Costlier and this one of the Disadvantages of GST Bill on Common Person.

There are some retail products where the Tax rate is only 4 percent but with GST it will be costlier like
Garments and cloths.

The control on business will be of state and central government so it may be some complex for the businessman.

All credits will be online and some penalties are like criminal activity. So it is threatening for the small businessman who is now free from Taxes.

Answer 2

good work of government please give tax is our first time on INDIA modi is good gts