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One month of GST: Doing business more complicated than ever

Ambiguous rules, multi-rate sales tax have left firms confused on how to price their products

Reuters  |  New Delhi 

Nationwide goods and services tax (GST) was meant to unify the $2-trillion economy and make it easier for companies to transact across state borders. Nearly a month on, many are finding that doing business is more complicated than ever. Ambiguous rules under the new, multi-rate sales tax that went into effect on July 1 have left firms confused on how to price their products. The tax's complex structure — four main rates ranging from 5 to 28 per cent — has hurt sales and risks denting economic growth and government revenues in the months ahead. Airlines, ...

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First Published: Thu, July 27 2017. 12:30 IST