India’s latest GST revisions will worsen the problem of high inflation ...Middle East

India’s move to levy goods and services tax (GST) on some daily eatables is set to strain household budgets, already battling high inflation.In June, the country’s GST council chaired by finance minister Nirmala Sitharaman pruned its exemption list to tax a host of goods and services. This included a 5% levy on pre-packaged and unbranded items such as wheat, rice, maize, makhana (fox nuts), specified flour, meat, and curd.The revision kicked in yesterday (July 18). Besides increasing the costs for the customer, the move will fuel inflation expectations, according to Saurabh Agarwal, a tax partner at EY India. While the finance ministry said the changes were only technical and aimed at stream

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