But getting past the state tax collectors into Uttar Pradesh, India’s most populous state, will cost you more: Upwards of Rs20,000, Kaul says. That’s why he and other companies are cheering the 1 July implementation of India’s biggest tax reform since independence in 1947. “Once GST is there, all that is gone.”Common marketThe new tax would be Modi’s most significant economic reform since coming to power in 2014. The government’s chief economic adviser Arvind Subramanian described it as “transformational.”“The GST is super important,” he said in an April interview. More than 150 countries have a value added tax or GST including Canada, Australia and the European Union, according to Deloitte.

Source: Mint June 21, 2017 03:01 UTC