The GST story is one of initial success

An important event which will be keenly watched is the first reporting compliance trigger

It is almost a month now that the goods and services tax (GST) regime has been operational. In terms of the constitutional amendment made last year and notifications issued under it, the GST regime had to be mandatorily implemented by September 2017.

However, both the policy-framers and legislators worked in fairly synchronised fashion to put in place the legislative and regulatory structures and commence on the design from July, showing the zeal to reform the indirect tax paradigm swiftly. Further, the integration of Jammu & Kashmir State within one week of the GST commencement despite material constitutional challenges