NEW DELHI: As the Goods and Services Tax ( GST ) marked its eighth anniversary on Tuesday, Prime Minister Narendra Modi called it a "landmark reform" that has reshaped India’s economic landscape and strengthened cooperative federalism .
Introduced on July 1, 2017, GST replaced multiple indirect taxes with a single national system. In a post on X, Modi said the reform has "greatly improved" the ease of doing business , particularly for small and medium enterprises, and helped make states "equal partners" in integrating India’s market.
“By reducing the compliance burden, it has greatly improved the Ease of Doing Business… GST has also served as a powerful engine for economic growth,” Modi wrote.
The Prime Minister’s remarks come amid record revenue figures. In 2024–25, India’s gross GST collection hit Rs 22.08 lakh crore, a 9.4% increase over the previous year, according to the Finance Ministry. Monthly collections averaged Rs 1.84 lakh crore, the highest since the system was implemented.
The number of active GST registrations has also grown to over 1.51 crore as of April 30, 2025, reflecting broader participation and improved compliance.
Since its launch, GST collections have steadily climbed, from Rs 11.37 lakh crore in 2020–21 to Rs 20.18 lakh crore in 2023–24, underscoring stronger economic activity.
The GST Council , chaired by the Union Finance Minister and comprising state representatives, has met 55 times since 2016 to shape policy and streamline the system.
A recent Deloitte survey, GST@8, found 85% of business leaders view the system positively, citing simplified processes, faster refunds, and better use of technology. Support among SMEs rose from 78% last year to 82% this year.
As GST enters its ninth year, it remains one of India’s most significant post-independence tax reforms, continuing to evolve toward greater efficiency and economic inclusion.
Introduced on July 1, 2017, GST replaced multiple indirect taxes with a single national system. In a post on X, Modi said the reform has "greatly improved" the ease of doing business , particularly for small and medium enterprises, and helped make states "equal partners" in integrating India’s market.
“By reducing the compliance burden, it has greatly improved the Ease of Doing Business… GST has also served as a powerful engine for economic growth,” Modi wrote.
Eight years since it was introduced, GST stands out as a landmark reform that has reshaped India’s economic landscape.
— Narendra Modi (@narendramodi) July 1, 2025
By reducing the compliance burden, it has greatly improved the Ease of Doing Business, particularly for small and medium enterprises.
GST has also served as… pic.twitter.com/RpvYRwTEwl
The Prime Minister’s remarks come amid record revenue figures. In 2024–25, India’s gross GST collection hit Rs 22.08 lakh crore, a 9.4% increase over the previous year, according to the Finance Ministry. Monthly collections averaged Rs 1.84 lakh crore, the highest since the system was implemented.
The number of active GST registrations has also grown to over 1.51 crore as of April 30, 2025, reflecting broader participation and improved compliance.
Since its launch, GST collections have steadily climbed, from Rs 11.37 lakh crore in 2020–21 to Rs 20.18 lakh crore in 2023–24, underscoring stronger economic activity.
The GST Council , chaired by the Union Finance Minister and comprising state representatives, has met 55 times since 2016 to shape policy and streamline the system.
A recent Deloitte survey, GST@8, found 85% of business leaders view the system positively, citing simplified processes, faster refunds, and better use of technology. Support among SMEs rose from 78% last year to 82% this year.
As GST enters its ninth year, it remains one of India’s most significant post-independence tax reforms, continuing to evolve toward greater efficiency and economic inclusion.
You may also like
Academics suffered years of 'bullying and harassment' in row over gender ideology
Angela Rayner announces major social housing shake-up to tackle soaring complaints
Novak Djokovic flirts with Wimbledon curfew to beat Alexandre Muller before cut-off
70% dip in Indians caught trying to enter US illegally in Jan-May 2025
P Diddy verdict LIVE: Jury reaches decision on four counts
