Singapore: After being a Bollywood fantasy for a decade, the idea that India could one day establish a common market is on the cusp of becoming reality. Instead, the multiplex operator will pay a GST to Modi’s federal government. Governments, federal and state, currently charge Rs66 in taxes on a bag of cement that retails for Rs300 ($4.50). What’s more, this tax, likely to be pegged at 18%, will be on the value added. Such a cruel plot twist so late into the movie would be too bizarre even for Bollywood.

Source: Mint August 02, 2016 10:05 UTC