- The Goods and Services Tax (GST) has played a pivotal role in shaping India’s economic landscape over the past six years.
- Introduced on July 1, 2017, it replaced a complex web of indirect taxes with a unified tax approach of ‘One Nation, One Tax’ to streamline processes, enhance tax compliance and foster economic growth.
- The upward trajectory of GST collections, coupled with the increased usage of e-way bills, serves as a testament to the underlying economic growth.
- Although the GST law has undergone significant changes and improvements over the past six years, there are still numerous issues which require attention and further resolution.
Source Grant Thornton
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