 "goods and services tax, GST")
Prime Minister Narendra Modi had described it as a “good and simple tax”, while Opposition leader Rahul Gandhi had called it “Gabbar Singh Tax”. Where does the truth sit? Perhaps somewhere in between.
The goods and services tax (GST), net of refunds, now yields close to ₹20 trillion to the exchequer – both the Centre’s and states’— with average annual receipts three times the receipt during the pre-GST period from taxes that were subsumed in GST (Chart 1).
However, the average annual growth rate for receipts is a shade lower than that in the pre-GST period. Part
