Article
Advantages and Disadvantages of GST in India
What is GST?
Goods and Services Tax is an indirect tax that was ruled out in India on 1st July 2017, it was brought with an aim to make Taxation in India simple, it made the taxation in India one, but there are some of the advantages as well as disadvantages of GST.
What are the advantages and disadvantages of GST in India?
| Advantages of GST | Disadvantages of GST |
| GST has eliminated a lot of taxes in India | It has increased the cost, due to the purchase of software |
| It has increased the threshold for registration | GST Compliant |
| It has introduced composition scheme for small businesses | It has increased the operational cost |
| It has made tax filing easy | It came into effect in the middle the financial year |
| With GST the number of compliances are less | SMEs have a higher tax burden |
| It has defined treatment of E-commerce operators | It is an online taxation system |
| It has also improved the efficiency of logistics | |
| The Unorganized sector also regulated under GST |
