India’s Botched Tax Reform
Many in India have long advocated a national goods and services tax, which has the potential to unify India's national market, making the economy more transparent, digitized, and efficient. But the GST that Prime Minister Narendra Modi's government has just implemented is likely to be a source of confusion and frustration.
https://prosyn.org/PA7zH2m
NEW DELHI – On July 1, an eerie silence descended over many of India’s teeming marketplaces. At midnight, a new national goods and services tax (GST) had come into effect at a glittering ceremony in India’s parliament. It was hailed as the biggest tax reform since independence, but business owners were so uncertain about how it would affect the prices of their wares that many shuttered their businesses for the day.