 "GST")
The eight-year journey of goods and services tax (GST) has been much like the mythological story of the churning of the ocean by the devas: The toxins of transition, aided by technical glitches in the system software, surfaced early — but now we are seeing the nectar of higher revenues, with two consecutive months of gross GST revenues exceeding ₹2 trillion.
While GST reform was truly transformational, some work remains. The tariff winds are nudging policymakers to rationalise GST rates. The key point here is that rate rationalisation should not be viewed in isolation as a revenue exercise, but as
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