Question

what are the consequences of gst ?​

Answer 1

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Answer 2

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