The crown of being modern India’s biggest tax reform seems to be sitting easy on the head of the goods and service tax (GST), looking at the first several weeks of its implementation. Make no mistake, this will be one of the most challenging tax regime transitions undertaken anywhere in the world, with significant pain points. However, the GST’s pace and decisiveness, and its bold design, should ensure that it brings greater national fiscal discipline. As always, India has demonstrated how fast it can adapt to multiple changes when led by the right tone and ...

Source: Wall Street Journal September 09, 2017 15:11 UTC