- India’s GST regime is still developing and subject to change.
- Digital businesses face compliance challenges due to a lack of clear rules in certain areas, such as virtual digital assets and online gaming.
- There are inconsistencies in case law, making it difficult for businesses to understand which GST rules apply to them.
- The GST Council is constantly working to remove shortcomings and contradictions in the system.
- The GST regime replaced 17 existing state and local taxes with one country-wide tax.
- The e-way bill, composition scheme for services, and e-invoicing system were introduced to improve the GST regime.
Source: vatabout.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
