Quote- Inflection Point Ventures on GST reforms
Ankur Mittal, Co-Founder, IPV says, “GST 2.0 is a great initiative from the government that not only simplifies the tax framework but will also create a powerful base for India’s economic growth. With the removal of complex taxes and cutting on working capital blockages, it gives a consumption boost across businesses generating strong domestic demand which accounts for nearly 60% of India’s GDP. Rationalisation of gst slabs is likely to widen the tax base thus generating more revenue for the govt and at the same time bringing more businesses under a formal economy. Such reforms further improve ease of doing business. We believe GST 2.0 will deliver benefits across sectors and further strengthen its economy”.