A fortnight into the GST, small and medium dealers, and manufacturers are grappling with issues of the new indirect taxation regime. Finance Minister Arun Jaitley will chair the 19th meeting of the GST Council on Monday, via video conference. This would be the first meeting after the implementation. The meeting would reportedly discuss tweaking of rates on some products, besides taking stock of the rollout of the new indirect tax system. The spread was 1.9 percentage point at the end of FY16 and 4.8 percentage points at beginning of the current rally in March 2013. The spread was 1.5 percentage point at the end of March 2008. The earnings yield is the potential yield for an equity investor if the company pays 100 per cent of its current (annual) net profit as equity dividend. Simply put, it is net profit divided by the market capitalisation of a company. Typically, the earnings yield on equities should be sufficiently higher than the yield on riskfree assets (such a