India’s GST has been more than a decade in the making and is expected to make dodging taxes more difficult, bringing the nation’s vast cash economy into the mainstream. Smaller operations are reporting that increased compliance costs, supply-chain disruptions and policy changes have hurt profits and forced some to shed workers. Mani, a partner overseeing GST at Deloitte India. At the same time, gold consumption in India dropped to a seven-year low in 2016 as efforts to formalize purchases damped demand. That view was shared by the chief of one of India’s largest electrical equipment manufacturer, Havells India’s Anil Rai Gupta.

Source: Mint November 15, 2017 04:41 UTC