India’s startup ecosystem has long faced abuse at the hand of the country’s draconian tax structure. The industry, especially e-commerce is looking forward to having a unified tax regime, and the government heard them.
11 years on, late on August 3rd, 2016, the Rajya Sabha passed the Goods and Services Tax (GST), a cental tax system that will replace the 17 state and federal taxes that can unintentionally kill innovation, and hamper logistics.
Here’s how India’s startup leaders reacted to the biggest tax reform India has had since its independence around 70 years ago:
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