A new consumer tax promises to simplify business.
IT’S BEEN a decade-long wait, but India will soon have a national sales tax to replace the jumble of state levies that inhibit commerce. The goods-and- services tax, or GST, will go a long way towards fulfilling Prime Minister Narendra Modi’s pledge to make it easier to do business in the world’s seventh-largest economy. The single tax will help combat evasion, boosting revenue for the government, which is grappling with Asia’s widest budget deficit. It should also help fund investment in public infrastructure, including schools and roads, which could shore up India’s competitiveness longer term. The government is seeking to implement the tax in the fiscal year beginning April 1, 2017, but many details still need to be worked out. Here are answers to some questions businesses may have about the new levy.
What’s so good about a new tax?
هذه القصة مأخوذة من طبعة October 24, 2016 - January 6, 2017 من Bloomberg Businessweek.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 24, 2016 - January 6, 2017 من Bloomberg Businessweek.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers