India’s GST is failing to act as a tax on value addition, since its credit system has got bent out of shape. Cascades don’t just burden enterprise, they push exports back, distort value chains and hurt the economy. Restore ITC neutrality to lower business cos…
In such cases, the system resembles cascading turnover-style taxation and weakens the value-added tax (VAT) principle of seamless credit and tax neutrality. So, beyond rate adjustments, deeper struct… [+5714 chars]
