Fourth GST anniversary has been saved
Fourth GST anniversary
It’s already the fourth anniversary of Goods and Services Tax (GST), and what a transformational and exhilarating journey it has been for the government and the industry alike! The GST landscape, including law, policies, and the government’s IT platform, has been evolving constantly over the past four years, and without doubt, for the better.
The journey came to a standstill for a while last year as businesses and the government were unprepared to cope with the disruptions caused by the unprecedented COVID-19 pandemic.
Despite the magnitude of the pandemic, the government as well as the industry have been agile enough to quickly adapt to the ‘new normal’ and revive economic activity. As India enters its fifth year of GST, let us look at the last year’s key developments and the road ahead.