2 years of GST: Hits, misses and future

The goods and services tax (GST) has completed two years of operation. Hailed as the single-biggest tax reform, the GST was rolled out with a gong in a special session of Parliament two years ago and subsumed 17 existing indirect taxes including the excise duty and sales tax. GST is currently levied on every product except petroleum, alcohol, tobacco and stamp duty on real estate in four slabs of…