what are the consequences of gst ?
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The penalty is taken for not filing GST in time is the main consequence of GST.
What are the features of GST?
- It is a tax that is taken by removing all other taxes like service tax and value-added tax
- The GST is useful to improve the conditions of the industry
- It helps to improve the competition in the market
- The burden to pay all taxes is reduced due to GST
- GST is collected by the government and many industries improve their revenue efficiency
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