On 1 July 2017, Goods and Services Tax (GST) became a reality. The government hailed it as the biggest tax reform of independent India which would herald a new freedom for the nation and unify it with ‘One Nation One Tax’. Some of the claims made by the government were that GST would bring about ease of doing business; increase tax collection; lower inflation; increase GDP growth by 1-2 per cent; and check the black economy.
More than a year later, we have more questions than answers.
Why did the economy slow down?
Is the government likely to collect more taxes?
Why have prices continued to rise?
Why has Malaysia withdrawn GST?
Turns out that problems with GST are both transitional and structural. To correct for these there have been a few hundred notifications and orders from the government which have added to the confusion.
In this book, well-known economist Arun Kumar explains the reality behind GST. Known for not pulling any punches, the author explains why GST is a double-edged sword for the common man, why it will increase inequality across sectors and regions, why it will hurt small businesses-everything the government does not want you to know.
Imprint: India Portfolio
Published: Jan/2019
ISBN: 9780670091102
Length : 288 Pages
MRP : ₹499.00
COVID-19 has impacted individual lives and collective communities, making it more urgent than ever to rethink the way our economy runs and the aspects it chooses to focus on. The macroeconomic aspects set the stage for microeconomics, since the latter can be geared according to the former. But macroeconomics can be counter-intuitive and needs to […]
