GST: Investor patience will be tested

The goods and services tax (GST) narrative is likely to dominate mindspace for months. The switchover will inevitably be chaotic. One downside: government officers implementing and overseeing the system have great powers in practice given a brief to prevent profiteering, etc. Another downside: increased paperwork including multiple registrations at many points.

Both sets of tax rates for goods and services are confusing. These will surely require revision and simplification. There are many inconsistencies. For example, green cars are taxed at a higher rate than normal cars. Tourism could see a jolt. Hotels face higher taxes and there's no way for