• Sunday, October 02, 2022

Business

Little India struggles with tax revolution

India is bracing for its most significant reform in a generation.

By: Eastern Eye Staff

India has vowed that a new nationwide tax will transform the economy by bringing more businesses into the digital system and filling state coffers, but for shopkeeper Sanjay Kumar Rai, who has never used a computer, the transition is terrifying. Rai is one of hundreds of thousands of small traders fearful of the goods and services tax (GST) launched Saturday (1) that aims to create a single market in place of a labyrinthine system of more than a dozen national and state levies. Under the new regime, businesses must register with the GST network and file invoices and tax returns online at least once a month. Prime…

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