Reforming GST

It should be a priority after the elections

One of the most significant reforms of the last decade has been the implementation of goods and services tax (GST). However, due to a variety of reasons, its performance has been underwhelming compared to the initial expectations, and the economy has not benefited to the extent envisaged. Tax collection increased in recent years, and there is scope for significant improvement. Although the GST Council drives GST-related decisions, the next Union government, irrespective of political composition, must initiate pending reforms. GST 2.0 must not only aim to increase tax collection but also improve the overall indirect tax administration, enhancing the ease