Drawbacks and Challenges of GST

Abstract

Goods and Service Tax is known as ‘One Nation One Tax’. The main objectives of Goods and Service Tax are subsuming all sort of indirect taxes like Central Excise Tax, Value added Tax, Entertainment Tax, Luxury Tax, and Service Tax. This is the one of the biggest tax followed throughout the world. France is the first country who implements the Goods and Service Tax in the world. The challenge and drawbacks of Goods and Service Tax will see in this article. Comparison of Goods and Service Tax India with other Countries and also what challenge does other countries faced when the implementation of Goods and Service Tax with their States. Also see how Goods and Service Tax works with live examples