India Today - - IMAGES 2017 -

Fol­low­ing a dra­matic mid­night ses­sion of Par­lia­ment, the prime min­is­ter and pres­i­dent launched the Goods and Ser­vices Tax (GST) on July 1, a piece of leg­is­la­tion nearly 20 years in the mak­ing. While most econ­o­mists agree on the ben­e­fits of sub­sum­ing a slew of con­fus­ing taxes un­der a sin­gle na­tion­ally ap­pli­ca­ble regime, the im­ple­men­ta­tion of GST and the many, fre­quently chang­ing rates led to protests and anger. Small busi­ness own­ers, a bastion of BJP sup­port, were par­tic­u­larly dis­mayed. Many of the protests were about tax slabs, and the process through which cer­tain goods were as­signed cer­tain slabs. Com­ing on the heels of de­mon­eti­sa­tion, GST was thought by some an­a­lysts to sound the death knell for many small and medium en­ter­prises.


Newspapers in English

Newspapers from India

© PressReader. All rights reserved.