A reform window: On the GST trajectory

The financial year 2023-24 appears to have ended on a high on the revenue front. Net direct tax collections rose 19.9% by mid-March to hit 97% of revised Budget targets, while the Goods and Services Tax (GST) has yielded a robust ₹20.18 lakh crore. Gross GST revenues in March, for transactions undertaken in February, crossed ₹1.78 lakh crore, the second highest tally since the rollout of the indir…