As India Embarks on Landmark Tax Reform, Growing Pains Are All but Guaranteed
In this Veracity Insight, we analyze the impending reforms to India’s tax system. India is poised to replace its complex and fractured tax regime with a nationwide goods and services tax, or GST. While the GST is expected to make it dramatically easier to do business in the country and could go a long way toward creating a more transparent and predictable market, the tax must first clear a series of political, legislative, and technological hurdles before firms can begin to reap its benefits. In short, in the near term, India’s road to GST is likely to be a bumpy one. As India Embarks on Landmark Tax Reform, Growing Pains Are All but Guaranteed.