Question

Gst advantages and disadvantages conclusion

Answer 1

GST advantages:

1)    GST is a transparent tax. Hence the number of indirect taxes is reduced

2)      It is not a cost to registered retailers. So, there will be no hidden taxes.

3)      Prices will come down benefitting people and the consumption will increase which in turn helps companies to earn profit.

 

GST disadvantages:

1)    GST will have negative impact on real estate as GST added to 8% to the cost of new home.

2)    There is no difference in the number of tax layers as CGST(Central GST), SGST(State GST) are just  new names for Central Excise/Service Tax, VAT and CST. 

3)    After GSt, clothes have become more expensive.

Answer 2

GST Tax is seen as the substitution of all circuitous duty exacted as of now on the products and ventures around the country. It is essentially a backhanded tax assessment that will highlight a solitary area of expense impose at the national level.

Advantages:

- There are different definitional issues identified with assembling, deal, benefit, valuation and so forth emerges. These should be rationalized.

- Several exchanges take the character of offers and in addition administrations, consequently, there is intricacy in deciding the idea of the exchange.

- The system of imposing taxes, exclusions, reductions, different advantages are distinctive in state and center.

Disadvantages:

- Small traders might not approach web or PCs and might be left out.

- GSTN or IT network for GST can have protection and security related issue

- GSTN or IT network for GST can be a solitary purpose of disappointment influencing everybody crosswise over India if any disappointment happens

- Local merchants need to pay GST notwithstanding SGST (prior they needed to pay just VAT).