GST Bill, despite all claims and hopes, is going to be the biggest damp squib in recent times. It will create chaos, confusion, tax terrorism, and mar the next 2 years of Narendra Modi Govt. Whatever said and done, Indian mandarins are not mentally ready to let the habit of fleecing businesses go, and are least bothered about the cause of businesses or general welfare other than their own benefits. If one is that naive to believe that by just one stroke of law, all Indian officials will become honest and business will function smoothly, then they are living in a fool’s paradise.
GST will increase costs, create a massive nightmare in terms of compliance, and will lead to more heartburn for businesses and the public.
Overall, a disaster in the making!!!
Now only time will tell whether I will have to eat my words or this will be the actual course of the future! Though I will love to be proved wrong in this instance, as our economy can’t really afford any such misadventure.