Question

explain the merit and demerits on gst and change currency​

Answer 1

Explanation:

Merit: one of the easiest ways to catch the black money.

Demerit: it made people's livestyle hard and created a bad impression on the prime minister among the people...

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Answer 2

Explanation:

Merits of GST:

• Mitigation of Cascading effect

• Abolition of Multiple Layers of Taxation

• Resourceful Administration by Government

• Enhanced Productivity of Logistics

• Creation of a Common National Market

• Ease of Doing Business

• Regulation of the Unorganised Sector under GST

• Reduction of Litigation

• Tackling Corruption and Tax Leakages

Dimerits of GST:

• Increased costs due to software purchase.

•Being GST-compliant.

•GST will mean an increase in operational costs.

•GST is an online taxation system.

•SMEs will have a higher tax burden.