In a column published in Mint last week, Indira Rajaraman, alluded to this phenomenon very succinctly. According to her, GST has completely recast the existing risk-sharing mechanism, dealing a death blow to retail trade volumes. The solution, like Rajaraman argued, is not to backtrack on GST (as some political parties are suggesting), but instead to fix the anomaly through tweaks (one of which was accepted by the GST Council on Friday by putting in place quarterly filing of returns, instead of every month).