India is one country but it has never been one market. That may finally change next year if more than half of its 29 states approve a law to introduce a single value tax, known as the Goods and Services Tax (GST), replacing what the Economist described as a “monstrous excrescence of taxes, duties and surcharges levied by the centre, the state and local authorities”. Prime minister Narendra Modi made the same point more succinctly arguing that the GST is needed to “deliver us from tax terrorism”.
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