GST has been a gamechanger for India’s economy

Ahead of the launch of the goods and services tax (GST) on 1 July 2017, this newspaper on 6 June 2017 had published my piece titled ‘Indian GST: Unparalleled Tax Reform’ in which I had highlighted the unique features of India's GST regime such as the Dual GST structure; Integrated GST mechanism; invoice matching; single digital interface and the establishment of a GST Council. The concluding line of my piece read: “The gains of this little pain (transition to new GST regime) are going to be many and long-lasting for the Indian economy". Six years after the introduction of GST, the general consensus is that the little pain has been worthwhile.

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