GST in India - a year on
BUSINESS & MANAGEMENT
We are close to celebrating the first anniversary of a tax reform initiative that had been in the works for basically ever since India's independence. The Goods and Services tax was introduced a year ago amidst a lot of economic doomsday predictions. Since then what we have been seeing is a steady progress with the focus being firmly on making it easy to carry out business in India. While there is a long way to go (for example, petroleum products are still not within the GST ambit), it is heartening to see that the introduction of GST has put to rest the fear of 'lost' tax revenues and has widened the tax paying population base!
A link to a writeup that came up a few days back on FirstPost is listed below for more details on the same.