The first two weeks since the launch of the goods and services tax (GST) seem to have gone by without any major disruptions in the economy. Credit is due to the government officials who have been overseeing the difficult transition in the tax system. These are still early days, and the true extent of the success will only be known when the first online GST returns are filed in September. Remember that the online rollout of the Affordable Care Act in the US—Obamacare—was not free of technical glitches. It is important that the principle of regulatory forbearance is used for the first few months of the new indirect tax regime.

Source: Mint July 16, 2017 18:45 UTC