The goods and services tax (GST) has been one of the major policy successes of recent years. It has stimulated the growth of a truly national market, replacing a welter of distorting taxes with a single rational system. It has also provided a stable source of revenue to both the Centre and states, notwithstanding some teething issues and discord between the two levels of government. But how much has the government actually received from the GST? Is it really an improvement on the pre-GST regime? The answers are surprising.
Nearly all of the analysis of GST, whether in reporting by journalists
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