GST launch at midnight today: Promises, pitfalls of the historic tax reform

Under GST, the small and medium industries would have to handle things on their own

The series of GST Council meetings have demonstrated both pragmatism and flexibility of the government to solve problems as they come along. Continuing in the same spirit, the meeting of the GST Council on June 11, addressed a number of rate issues where representations were received from trade and industry.
 

The government was receptive in sectors with considerable employment potential. For example, the Centre reduced the GST rate from 18 per cent to 5 per cent on job work services relating to gems and jewellery, leather and textiles sector.

It was felt that a lot of the value addition in