Why it is critical to start with ‘good’ GST, then transition to an ‘ideal/best’ one

The goods & services tax (GST) is currently levied/imposed in about 160 countries, with the average GST rate of around 16%. There are variations from this average charge. To illustrate, GST rates range from 1.5% in Aruba, 6% in Malaysia, 7% in Singapore to 25% in Sweden and 27% in Hungary. It is estimated that the average rate of indirect tax on any product in India is bound to be around 27% (…