India Set To Miss GST Deadline
Prime Minister Narendra Modi’s Government has said all the right things to foreign investors about tax since it has been in power, and has made steady, if unspectacular, progress towards improving the country’s notoriously difficult corporate tax environment. However, it’s been said for some time that the pending goods and services tax legislation, which is widely acknowledged as the most important tax reform since independence, would be a litmus test of the Government’s reformist credentials. And unfortunately, it is a test that it appears to be failing. To be fair to the Government, it’s not for lack of effort. But there’s not much it can do when the Opposition (largely made up of the Congress Party), uses its majority in the Rajya Sabha (upper house) to oppose for the sake of opposing, which appears to have been the case during the recently-concluded winter session of parliament.
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