Six months later: taking stock
Six months is too short a period to evaluate any mega reform, but it is a good time to take stock of what has been achieved and what can be done to make it better
The implementation of the goods and services tax (GST) from 1 July 2017 was a landmark event in the economic history of India as it brought about a paradigm shift in the indirect tax regime of the country. Many have termed it a “game changer" and others a transformative economic reform. Six months is too short a period to evaluate any mega reform as it takes time for the gains to emerge and percolate down. Nevertheless, it is a good time for stocktaking and evaluating what has been achieved and what further needs to be done to reap maximum benefits in the long run.