The GST regime, implemented in 2017, turns seven years soon,
stepping into its proverbial childhood. In many ways, the sweeping
tax reform has lived up to its promise - advancing towards the
envisaged vision of "One Nation, One Tax, One Market."
The year-on-year growth in numbers can be seen as a testament to
the above story. However, as Albert Einstein once said,
"Not everything that can be counted counts, and not
everything that counts can be counted," it aptly
describes that growth statistics in tax collection numbers should
not be the sole parameter to judge the success of GST. Let's
look at a specter that is currently plaguing multiple taxpayers
across trade and industry.
One of the reasons why GST is hailed as a landmark tax reform is
the fact that the Centre and the States were given joint powers to
levy tax and administer its collection. Although revolutionary at
the time, this complex legal framework now suffers from certain
growing pains, especially that
