June 30, 2025 1:05 PM
GST turns eight: Unified tax system delivers record ₹22 lakh crore collection
India’s Goods and Services Tax (GST) will complete eight years since its rollout on July 1, marking a significant milestone in the country’s economic integration journey. Introduced in 2017 to replace a maze of indirect taxes, GST was hailed by Prime Minister Narendra Modi as “a path-breaking legislation for New India.” Over time, the reform has reshaped tax compliance, improved business efficiency and bolstered government revenues. In 2024–25, gross GST collections touched a record ...