The 55th meeting of the Goods and Services Tax (GST) Council made headlines when it issued a clarification on taxing popcorn, drawing widespread attention to India’s indirect tax reform. The move has raised concerns about the flawed rollout of the GST system and potential overreach by tax authorities.
Critics, including former chief economic advisor Krishnamurthy Subramanian, have pointed out the need for greater transparency and simplicity in tax regulations. Some experts fear that excessive taxation is stifling India’s growth story.
As questions surround the GST Council’s decision, StratNews Global spoke to Haseeb Drabu, former finance minister of Jammu and Kashmir, to explore the implications and potential reform options, including a possible “GST 2.0”.
Source: https://stratnewsglobal.com/world-news/gst-overreach-will-kill-indias-growth-story