Time to act on GST

Note ban made consumer demand invisible as people lost their ability to buy for a period of time

In the recent past, the Indian economy witnessed two major events — demonetisation, followed by goods and services tax (GST). Demonetisation made consumer demand invisible as people lost their ability to buy for a period of time.

Before the economy could return to normal, GST was enforced. Again, it hindered supply of goods and services as producers themselves are not yet clear about the process of implementation. GST has pushed the economy into chaos. Even a week after its implementation, the market is unable to estimate commodity-specific change in prices. Small businesses are hiring tax professionals to make the transition to