GST on Disability: The Opportunity Cost

By Koshy Mathew

In July this year, India saw the advent of a new tax regime aimed at unifying the sprawling markets as disparate and diverse as the people of the country itself. Citizens responded with mixed emotions of welcome and disapproval.

While Goods and Services Tax (GST) is not new to the global markets, it took the Indian market by surprise. It is also ironic that GST which in concept is simpler to surmount is more confusing to the Indian market and society than the former multi-layered indirect tax regime. GST subsumes as many as 17 indirect taxes (Central and State) and around 22 types of Cess into one single tax. This is a revolutionary move in the history of Indian taxation.  Read more