GST@8: A transformative growth journey

The story of GST is the story of India's ambition to create a seamless, scalable and sustainable economy

- MAHESH JAISING TARUN BAJAJ Respectively partner and Indirect tax leader and senior advisor, Deloitte India

AS INDIA MARKS the eighth anniversary of the Goods and Services Tax (GST) today, the narrative around this landmark reform has evolved significantly—from early apprehensions to widespread endorsement. What began on July 1, 2017 as a bold structural overhaul of India's indirect tax regime has matured into a cornerstone of India's economic architecture today. The latest findings from Deloitte's GST@8: Learning from the Past, Defining the Future survey reaffirm this trajectory, reflecting strong industry confidence and an urgent call for next-phase reforms.

At its core, GST replaced a framework of central and state levies with a unified, transparent, and technology-driven tax framework. Over the past eight years, it has streamlined tax administration, eliminated cascading taxes, improved interstate trade and formalized the economy.

Digitization has been the hallmark of GST's success. E-invoicing, auto-populated returns, and real-time data integration via e-way bills have significantly reduced manual interventions and compliance ambiguities. According to the Deloitte survey, an overwhelming 85% of industry respondents now view GST positively—up from 59% in 2022. This shift is not just a vote of confidence but a testament to the regime's growing maturity and effectiveness.