- GST collections in India accounted for 6.86% of GDP in FY24, higher than the previous year
- GST was introduced in 2017 to simplify India’s taxation system
- The current GST regime in India has 4 slabs ranging from 0% to 15%
- There is a call for further simplification of the GST system
- IMF Deputy Managing Director Gita Gopinath suggests simplifying GST to increase revenue without reducing government spending
Source: freepressjournal.in
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
