Is GST Successful? Let's Found Its Pros and Cons
When the Goods and Services Tax (GST) was implemented in 2017, then it was advertised as a game changer for the Indian Economy. Since then, it has been five years of GST and in terms of achievement, GST is proving a masterstroke wherein a plethora of indirect taxes have been implemented in a single tax regime. In these five years, significant changes have been made to GST and many technical glitches have been resolved to make it simple and taxpayer-friendly. Since it has been five years of GST and in the future it will pivotal role in the Indian economy, therefore it is absolutely justified to raise the question: “Is GST successful?” This post aims to discuss the pros and cons of GST after five years of its implementation. The Pros of GST: Impactful and Positive Changes: In these five years several policies and technical changes have been made in the GST. A few of these are welcome changes altered the face of the tax system. These include: E- Invoice: The Government has launched E-