Here's the bad news - despite the big reform we are the most-taxed people globally

Finally, the contours of the Goods and Services Tax (GST) regime has become clear with the two-day session of the GST Council at Srinagar coming to an end on 19 May (Friday). The GST Council has largely worked out the details of the fixation of the items to the four-fold tax-structure (0 percent, 5 percent, 12 percent, 18 percent and 28 percent) that has been agreed upon. We have now effectively a…