Eight Years of GST: Revolutionizing India's Economy and What Comes Next

Eight years ago today, India embarked on a monumental economic journey with the implementation of the Goods and Services Tax (GST). This landmark reform, years in the making, stands as the most significant overhaul of India's indirect tax system to date. Its primary objective was to dismantle the complex web of varying state-wise indirect tax rates, forging a unified and seamless tax regime for the trade of goods and services across the nation.

The promise of GST was clear: simplify business operations and combat tax evasion. By eliminating the labyrinthine differences in state taxes, it aimed to streamline commerce and foster a more transparent economic environment. However, this ambitious reform wasn't without its challenges. It necessitated a considerable relinquishment of fiscal autonomy by state governments, transforming it into a politically intricate endeavor.

So, how has this ambitious reform fared over its first eight years? While a comprehensive analysis would delve into numerous facets, three key charts can illuminate its performance and offer valuable insights into its impact on India's economic landscape.