The Sensex opened in the red following cues from Asian markets. The index touched a low of 16,161 but recovered to a high of 16,357. The index has dropped again and is now down 70 points at 16,288.
Will Madhya Pradesh be isolated on goods and service tax (GST) issue? If highly placed government sources, working the new tax system, are to be believed, the state government will have to follow the trend. “Eventually the state will have to implement the system, we cannot linger on. Other states like Chhattisgarh have also agreed to implement it, Gujarat government has welcomed it, Haryana has accepted it ‘in principle’ except for few points. How Madhya Pradesh can stand out?” asked an official. But the state finance minister has a long list to point out flaws in the new tax system, the main being, “The GST will bring even dal-chawal (rice and pulses) under tax net, which are exempted from VAT.”