On July 01st 2018 the Goods and Services Tax (GST) completed 1 full year of implementation. A total of 28 meetings of the GST Council meetings were held till date and a plethora of changes have been made to the GST Act. There are modifications with respect to rates (in fact a little too often), modifications with respect to processes, procedures and the technology platform. But overall, even the die-hard sceptic would admit that the government has managed the transition from a plethora of taxes to GST quite effectively. Revenue collections have already stabilized at over Rs.95,000 crore on a monthly basis and is expected to scale beyond Rs.100,000 crore on a regular basis.
However, the completion of 1 year is also the time to look back at the highs and lows of GST implementation. It must be said that, barring certain sections of business, there has definitely been a vast improvement in the efficiency and efficacy of GST collections and administration.
Enjoy Zero Brokerage on Equity Delivery
Join our 1.75 Cr+ happy customers
Enjoy Zero Brokerage on