New Delhi, Aug. 21 -- Days after the US announced the irrational 50 percent tariffs on imports from India, the government's latest GST rationalisation exercise is without doubt a rare opportunity for our small businesses to breathe easier. They have long struggled with a tax regime that is complex, fragmented and capital-draining, and add to it the weight of Trump's added tariffs.
The first thing that stands out in the recent GST reform discussions is the trimming of four slabs into a simpler two-tier structure. This way I feel will cut away the red tape that choked enterprises of both time and money. In short it means no more endless battles with inverted duty structures, and no more refunds stuck in the system.
With these reforms cheape...