GST: A year of learning and attainment

Two key issues that will engage the attention of policymakers are the tax rates and the dispute settlement mechanism

It’s been a year since the goods and services tax (GST) came into force, though, the nation surely has come a long way from the uncertainty and doubts permeating the political climate and business circles last year, being unsure of what the GST would bring. A wholesale replacement with a harmonised tax regime, consistent across the country, is undoubtedly a pioneering movement towards a “single national market” of goods and services for levies and movement. The manner in which all states have adhered to the grand design and in return the Union making good its promise for timely compensation is