GST is a different form of taxation then the previous taxation system. It has revolutionised the entire taxation system. Previous tax systems were corrupted; on the other hand, GST is free of corruption. GST removes cascading tax effects. It has an easy way to register. There is a simple online procedure.
With GST portal one can get registered, returns, payments etc. Any compliance related to GST may be reported on this portal. Small businesses are little worried about GST, but composition scheme will help them out. Logistic efficiency is increased in GST. GST has lesser compliances than previous taxation system. The unorganised sectors are also regulated by GST now.
The GST changed the entire tax system in India. Below are the salient features of the GST. The GST rolls out with a unified tax reform and gives a huge boost to the economy in the form a single unified tax system in the country.
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