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GST implementation creates widening two-speed economy

GST implementation creates widening two-speed economy

The GST has driven a chasm between large enterprises who have adopted the national tax and a plethora of small businesses who remain burdened by compliance costs. Larger entities have grown market share while transitory disruptions withheld their smaller competitors. Considering that small businesses contribute to nearly half of India’s economy, a systematic bottleneck across their supply chains could slow down activity for several months, according to a report by Bloomberg. Read more

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