Rakesh Sachdeva sells auto parts in a busy market in central Delhi, just a few miles from Prime Minister Narendra Modi's office. Yet despite having a flourishing business he does not pay any tax.Until now, his rundown premises and small scale operation has kept the business below the radar of India's tax officials. Come July 1, however, "the party will be over", says the 51-year-old, with a resigned shrug.A nationwide Goods and Services Tax GST ), set to come into effect on Saturday, has faced criticism for its complex design. "Compliance is needed for input tax credit," he said. "But what if you are in a business where margins are strong and allows you to forsake credit?

Source: Economic Times June 30, 2017 04:25 UTC