Advantages and Disadvantages of Goods and Service Tax (GST) | Study at Home with me

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Following topics have been covered in the video:
Advantages of GST
*GST eliminates the cascading effect of tax
*Higher threshold for registration
*Composition scheme for small businesses
*Simple and easy online procedure
*The number of compliances is lesser
*Defined treatment for E-commerce operators
*Improved efficiency of logistics
*Unorganized sector is regulated under GST

Disadvantages of GST
*Increased costs due to software purchase
*Being GST-compliant
*GST will mean an increase in operational costs
*GST came into effect in the middle of the financial year
*GST is an online taxation system
*SMEs will have a higher tax burden

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