Six years of GST: Steps that led to success, and the way forward

No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms

There have been several steps taken in the six years since the rollout of goods and services tax (GST) on July 1, 2017, that have helped make the new indirect tax regime a success. Some of these are:

Rate reduction and rate rationalisation: GST rates were either reduced or rationalised on several items. The micro, small and medium enterprises (MSME) sector was especially kept in mind. The 28 per cent slab was pruned substantially. Threshold exemption and composition limits were increased significantly. All this helped taxpayers realise the benefits of GST, and enabled the government to get their buy-in. But