Best of BS Opinion: Next steps in GST, flagging enthusiasm and more

Here is the best of Business Standard's opinion pieces for today

The group of ministers (GoM) formed to suggest a future path on GST has a consequential decision to make. This decision concerns the future course of the compensation cess, which was imposed on certain items in the highest tax bracket to compensate state governments for revenue losses for the first five years after the new tax was introduced.  The states have suggested merging the compensation cess with GST rates. Though this appears a sensible solution, the decision will require the GoM to take multiple variables into account. The top edit explains the options. Read it here

 

In other views:  

 

Tamal Bandyopadhyay assesses the Reserve Bank of India’s order last week  directing four of NBFCs to cease and desist from sanctioning and disbursing fresh loans. Read it here

 

Debashis Basu questions the popular narrative about India’s economic growth story. Read it here

 

Mihir Sharma explains the complexities of land and real estate markets and their relationship with economic development. Read it here

 

QUOTE OF THE DAY

 

‘To think that certain agents of the Indian government could contract violent crimes across North America and get away with it. That was a tremendous strategic error’

 

Canadian High Commissioner to India Cameron MacKay