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Lack of GST can stifle Modi’s Startup India dream

By January 4, 2016 No Comments

One only has to see the long line of trucks piled up outside a border checkpost. The borders of Mumbai, Tamil Nadu and Karnataka are a case in point for a generation waiting to see efficiency creep in to the transportation industry. Thanks to the current tax complications, a generation of new-age businesses like Flipkart, Snapdeal, Shopclues and Shopmatic will continue to be hassled by local governments to pay up unnecessary taxes to boost up State revenues. Therefore, the GST should become a reality for the Narendra Modi-led BJP government or face being ignored by the global investor community which could easily overlook India’s promises as a ‘Startup Nation’. Indian infrastructure needs a massive overhaul simply because the cost of doing business is very high because of taxes.

Source: Your Story