Indian business braces for disruption amid massive reform GST reform will cause disruption to businesses.
Eastern Eye Staff
India is bracing for upheaval as it storms ahead with its most ambitious reform in decades — transforming the world’s fastest growing major economy into a single market for the first time. The long-awaited goods and services tax (GST) rolls out Saturday even as businesses complain they are ill-prepared for the massive changes about to ripple through India’s unwieldy, $2 trillion (£1.5 trillion) economy. The government promises the new regime will not just simplify trade by replacing more than a dozen levies with one tax, but combat corruption and enrich state coffers by bringing the informal economy into the digital era. Most economists agree…
You do not have access to this content. You need to subscribe.