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India Today
30-06-2025
- Business
- India Today
8 years of GST: Top 5 achievements you should know
It has been eight years since India rolled out the Goods and Services Tax (GST), one of the country's biggest tax reforms. Back in July 2017, GST promised to bring 'One Nation, One Tax' by merging various indirect taxes under one umbrella. Today, it is part of our daily lives, from a cup of tea to a car, almost everything we buy has GST added to its what has GST really achieved in these eight years? Let's look at five key highlights that show how far the system has come.'ONE NATION, ONE TAX' MADE REALBefore GST, businesses dealt with multiple taxes like VAT, service tax and excise duty, which often made things complicated. With GST, these different taxes were replaced by a single, uniform tax. This made doing business smoother and easier for companies and shopkeepers alike. Goods can now move freely across states without long queues at checkposts.A BOOST TO FORMAL ECONOMYGST helped bring more businesses into the tax net. Small traders, start-ups and online sellers now have to register under GST if they cross certain turnover push towards formalisation means more tax compliance and better transparency in the system. Also, over the years, the number of GST-registered businesses has grown REVENUE COLLECTIONadvertisementSince its launch, the Goods and Services Tax (GST) has boosted India's revenue growth and broadened its taxpayer base. It continues to fortify the country's fiscal health while making indirect taxes more transparent. In 2024–25, GST collections hit a record high of Rs 22.08 lakh crore, marking a healthy 9.4% rise from last year, according to collections averaged Rs 1.84 lakh crore, and the taxpayer base is thriving with over 1.51 crore active registrations as of April 30, FILING FOR TAXPAYERSOne thing that worried many people in the beginning was the paperwork. But in these eight years, the filing process has become much smoother and user-frinedly. From the simple GST portal to new mobile apps, taxpayers can file returns, track input credits and pay taxes online with just a few businesses can also use the QRMP (Quarterly Returns with Monthly Payment) scheme to file quarterly returns and pay monthly COORDINATION BETWEEN CENTRE AND STATESOne of GST's big successes is how it brings the Centre and states together. The GST Council, made up of the Union Finance Minister and state finance ministers, meets regularly to discuss rates, reforms and shows true cooperative federalism in action, where states and the Centre make joint decisions and iron out issues eight years on, GST is still evolving. There are challenges too, like rate rationalisation and plugging tax leaks, but the system has come a long way since 2017. As India grows, GST is expected to get simpler and more efficient, helping both businesses and the government in the years to come.- Ends
India Gazette
18-05-2025
- Business
- India Gazette
CBIC celebrates 'Sundays on Cycle' - a fitness and GST awareness initiative in run-up to completion of 8 years of GST
New Delhi [India], May 18 (ANI): In the run-up to completion of eight years of GST, the Central Board of Indirect Taxes and Customs (CBIC), in coordination with the FIT INDIA Movement, organised a nationwide cyclothon titled 'Sundays on Cycle' under the aegis of FIT INDIA movement launched by the Prime Minister, Narendra Modi. The flagship event was organised at Major Dhyan Chand National Stadium, New Delhi, early morning today, with more than 100 CGST commssionerates also participating across the country. Flagging the cyclothon at New Delhi, Shashank Priya, Member (GST), CBIC, highlighted the transformational impact of GST on the Indian taxation system and emphasised how GST has unified around 30 different indirect taxes into a single, transparent tax structure, thereby simplifying tax administration and compliance for both businesses and citizens. Priya also apprised participants of the significant benefits extended to small taxpayers through initiatives such as the GST Composition Scheme and the Quarterly Return Monthly Payment (QRMP) Scheme, which reduce compliance burden and foster ease of doing business. The Mumbai and Pune Zone of CGST also roped in Bollywood celebrities like Sunil Shetty, Milind Sonam, and John Abraham. The cyclothon witnessed enthusiastic participation from more than 50,000 cyclists across the country, including senior officers from CBIC. At the venue, a dedicated GST Help Desk 'Know About GST' was set up to engage with participants and to answer queries about GST. To enhance accessibility and outreach, a wide array of informational brochures on key GST topics were distributed, and digital kiosks equipped with QR codes were strategically placed across the venue, allowing participants to scan and download GST resource materials directly to their mobile devices. Additionally, vibrant hoardings and banners highlighting key GST reforms and taxpayer-centric initiatives -- especially for support for MSMEs, GST registration process, etc. -- were prominently displayed. Together, these efforts created a comprehensive and engaging environment, aligning with CBIC's vision of brining GST closer to people through public engagement and education. The cyclothon is part of a broader initiative blending public health advocacy with taxpayer engagement. This initiative is yet another example of CBIC's commitment to engaging with taxpayers and the general public through innovative and inclusive outreach programmes, celebrating both national health goals and the ongoing journey of GST reform, as India marks eight successful years under this landmark tax regime. (ANI)
