Goods & Services Tax: Issues & Challenges

Abstract

GST was essential for the Indian Economy, there are lots of shortcomings relates to technical issues, invoicing, ITC, accounts & records, returns etc, In Indian economy, the MSME plays a vital role , the professional like CMA & CA are required to spend considerable energy and time to comply with GST requirements. It is a simple taxing process, remove multiple tax system; corruption free tax system. Its object is to achieve revenue target and growth of economy. Let concentrate some issues & challenges after introduction of GST in our country.