This article explains the important part of GST which lays down that who is NOT required to get register under GST. As a simple rule, if you are supplying goods and services within a state of more than 20 Lakh in a financial year, then you are liable.
As said, GST is the solution to the flaws in the current taxation policy. It is expected that GST will revamp the whole indirect tax structure in India and it will provide boost to the ease of doing business.
Central Sales Tax (CST) is tax levied on sale of goods in the course of interstate trade and commerce. As per the Constitution of India, no state has the power to levy taxes on interstate sales. Central Sales tax is a tax levied by Central government.
There are various indirect tax laws functioning differently still not able to achieve the desired satisfaction. So many taxes create non compliance, tax evasion and also it is difficult for the government authorities to administer.
Apart from many advantages or benefits, GST also has a negative side which may also have far reaching impact on the economy and business. Here are some of the disadvantages that may arise under GST regime.