India’s Goods and Services Tax, introduced in July 2017, replaced a maze of levies with a single unified system. It was billed as the country’s most ambitious indirect tax reform, creating one market across states and cutting compliance costs. On its eighth anniversary this July, GST stood at a crossroads, stable at a 6.7% share of GDP but struggling to gain fresh momentum.Prime Minister Narendra Modi has now promised a fresh round of GST reforms. In his Independence Day address, he announced that by Diwali the government would unveil changes to simplify the rate structure and reduce levies on a range of goods and services. The reform comes amid continuing discussions on rationalisation and is framed as a consumer-friendly move.
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