1/ Today, the GST Council meets to consider long-overdue reforms. The big proposal: eliminate the 12% & 28% slabs. But the truth is India’s GST is far more complicated than the “5-slab system” we think it is. 🧵
1/ Today, the GST Council meets to consider long-overdue reforms. The big proposal: eliminate the 12% & 28% slabs. But the truth is India’s GST is far more complicated than the “5-slab system” we think it is. 🧵 https://t.co/K625Hrf3mN
Costs:
-arbitrary & coercive implementation
-rent-seeking
-revenue loss
-unease of doing business
The GST Council must not only eliminate high rates on some goods, especially those in 28% slab
it must address broader challenge of complexity for GST 2.0 to be better than GST 1.0
Question for today's GST Council Meeting:
How simple is India's GST? Answer in our @bsindia piece is sobering
Nearly 45 distinct rates (Table 1)
Complexity from duty inversion & arbitrary, value- & end-use based classifications (Table 2)
Costs to govt. & taxpayer are huge
1/
698 Followers 6K FollowingA monotheist, secular socialist democrat who works for humanity and fights against fascism, cultural nationalism and media terror
4K Followers 3K FollowingIndianArtIdeas is the India’s leading online art gallery, connecting people with art & artists. Portal housing a charismatic collection of indian art.
685K Followers 117 Following#1 NYT Bestselling Author: The 48 Laws of Power, The Art of Seduction, The 33 Strategies of War, The 50th Law, Mastery, The Laws of Human Nature, The Daily Laws
24K Followers 2K Followingpriest, poet, rock'n'roller. I play in Mystery Train, and am a life fellow at glorious Girton College Cambridge. https://t.co/9MxE2GOp1w
3K Followers 801 FollowingWiseblood Books fosters works of fiction, poetry, & philosophy that find redemption in uncanny places & people. Be wide-eyed.
12K Followers 1K FollowingI worship Jesus Christ. I want to be a saint.
Fletcher Jones Chair of Great Books @Pepperdine
@CLT_Exam @liberating_arts
Senior Fellow @trinityforum
2K Followers 1K FollowingMotherland (Able Muse Press 2020). Works of Mercy (Wiseblood Books 2022). The Blackbird (Wiseblood Books 2024). Among the Living (Able Muse Press, forthcoming).
11K Followers 5K FollowingA wildish man | Writer, Poet, Etc. | Executive Editor @HarperCollins | “Not here the darkness, in this twittering world.” | Smells & bells; words & wonders.
3K Followers 1K FollowingPoems, essays, plays. Writing at https://t.co/sJaLge16o5. Poetry Editor @plough “The only tragedy is not to have been a saint.” - Leon Bloy
1K Followers 322 FollowingTara Brach is a leading western teacher of Buddhist meditation, emotional healing & spiritual awakening. She has practiced and taught meditation for 35 years.
11K Followers 503 FollowingI talk about psychedelics, healthspan, & conscious leadership | Educated millions at @thirdwaveishere | Coaching entrepreneurs in the skill of microdosing
77K Followers 970 Following🕯 In labouring to be concise, I become obscure.
🕯 Alchemist, sacred things, making things
🕯 The map is mostly water.
🌜 I make GoJS: https://t.co/7yYIMFfAtd
935 Followers 2K FollowingAmerican novelist fusing dark humor with raw introspection. Author of Eileen, My Year of Rest and Relaxation, Death in Her Hands, Lapvona.
339K Followers 1K Following15X NY Times bestseller. Tackling the root causes of chronic illness and our broken food & health system. Co-Founder & CMO @function
2.8M Followers 867 FollowingNews about Neil Gaiman. Not posted by Neil. You can find him replying & posting in person at neil-gaiman on Tumblr, or @neilhimself.neilgaiman.com on Bluesky
1.9M Followers 1K Followingauthor of much, including a S*bstack. https://t.co/zu8MztYEpy. I have just started a Blue*ky account. I’m not sure whether anyone sees my X posts.
111K Followers 1K FollowingNYTimes bestselling author of STEAL LIKE AN ARTIST and other books. Subscribe to my weekly newsletter & log off this hellsite: https://t.co/dQIzmsUdAY
428K Followers 553 FollowingI talk about the skills, beliefs, and businesses I’m building | Helped 10,000+ start writing at https://t.co/t2IzOoW1mW | Former @blackrock trader turned writer
1.1M Followers 305 FollowingNYT Bestselling Author of The 5 Types of Wealth. Gave up a grand slam on ESPN in 2012 and still waiting for it to land. Order my book below 👇
101K Followers 1 FollowingFocus on what you want to see more of. 💪🏾❤️🔥 buy my ebooks ▲ FRIENDLY AMBITIOUS NERD ▲ (https://t.co/ilqQnEHTOz) and ꩜ INTROSPECT ꩜ (https://t.co/K7oSiNofSa)
129K Followers 688 FollowingExploring modern relationships. Author of #MatingInCaptivity and #TheStateOfAffairsBook. Host of #WhereShouldWeBegin Podcast
466K Followers 780 Following"The Writing Guy" | Christian | Host: How I Write Podcast | I tweet about writing, AI, and creativity | My writing: https://t.co/SOE9HtxXdi
1.1M Followers 1 FollowingAuthor of the #1 NYT bestseller Atomic Habits (https://t.co/aWrO9DWkH5). I write about building good habits. Over 3 million people read my 3-2-1 newsletter.