Why GST exemption is a bad idea

To fight the Covid-19-instigated economic devastation, GoI and RBI have stepped in with incentives, cash doles and monetary policy support. Industry in India, like its counterparts elsewhere, are cutting their losses and biding their time for the crises to come to an end. There is also a misguided demand from some sectors seeking exemption in goods and services tax (GST) rates in general, and spec…