GST faces challenge to meet higher revenue expectations

The Goods and Services Tax (GST) was passed in a joint session of parliament on 1 July, 2017. It is the biggest tax reform in the history of the country. GST’s rollout abolished a plethora of regional taxes and ushered in a unified indirect tax regime across the country. This change was expected to cut red tape, facilitate movement of goods and services across state borders and widen the tax base…