Advantages and Disadvantages of GST

Easy tax compliance: Reduction in compliance cost.
Enhanced Transparency: GST regime shall enhance transparency in the indirect tax framework and is expected to bring down the rate of inflation.
Simplified tax structure: Ease of doing business.
Benefits to Economy: Unified National Market.
Advantages for trade & industry: Mitigation of ill effects of cascading, benefits for small traders & entrepreneurs.
Seamless Flow of Credit: GST will facilitate seamless credit across the entire supply chain and across all States under a common tax base.
Increased Digitalization: GST is largely technology driven. The interface of the taxpayer with the tax authorities will be through the common portal (GSTN). There will be simplified and automated procedures for various processes such as registration, returns, refunds, tax payments, etc.

Multiple tax rates and many complexities resulting into tax disputes and corruption.
Understanding of GST structure is complicated.
High confusion regarding the product classification and multiple rates.
Items like (1) Alcohol (2) Real Estate and (3) Electricity have been kept out of this regime for the purpose of one tax.