A fair assessment of Goods and Services Tax

An assessment was made by Kapil Patidar & Arvind Subramanian in June 2018. This showed that in the first year of implementation of GST, revenues grew by 11.9% and the buoyancy was 1.20. A buoyancy ratio over 1shows progressiveness in the revenue growth and opens up the prospect of a rising tax-to-GDP ratio.  This is a significant improvement over the pre-GST period when the buoyancy ratios for state value added tax (VAT) and central indirect taxes like central excise and service...

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