One of India's great economic reforms, the Goods and Services Tax, is to finally roll out on July 1 this year. And this is a great economic reform too, it's not just a general cleaning up of the indirect tax system as some think. As per economic affairs secretary Shaktikanta Das the Goods and Services Tax (GST) will be implemented by July 1 and not later as feared earlier on. This is economically inefficient:GST is a proposed system of indirect taxation merging most of the existing taxes into single system of taxation. GST will make generation of cash more difficult.”It is also a VAT system which means that it has other benefits.

Source: Forbes February 28, 2017 08:53 UTC