GST reform urgency: India must mend a chain of input tax credit that’s holding its economy back - Mint

If India aspires to become a global manufacturing hub, GST must function as a genuine VAT. Summary 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 costs and lift export competitiveness. India’…