On the desk in his tiny office in Meerut, two hours drive northeast of New Delhi, lay two calculators. Prime Minister Narendra Modi’s government says that by replacing several federal and state taxes, the GST will make life simpler for business. Not so simpleBy tearing down barriers between India’s 29 states, the GST should deliver efficiency gains to larger businesses. The official schedule of GST rates runs into 213 pages and has undergone repeated last-minute changes. Also read: Goods and Services Tax: Who’s protesting, over whatOne particular concern is how a new feature of the GST, the input tax credit, will work.

Source: Mint June 28, 2017 03:14 UTC