The goods-and-services tax, or GST, will go a long way towards fulfilling Prime Minister Narendra Modi’s pledge to make it easier to do business in the world’s seventh-largest economy. The single tax will help combat evasion, boosting revenue for the government, which is grappling with Asia’s widest budget deficit. It should also help fund investment in public infrastructure, including schools and roads, which could shore up India’s competitiveness longer term The central government has worked hard to build consensus with the states. This was evident when the government addressed the need to have dispute resolution in the law. The Center also dropped the 1 percent inter-state tax which could have caused distortions and have a cascading effect. Both were issues raised by the Opposition.
Chartered Accountant. Company Secretary. Specialization in Portfolio Management