How has GST impacted the Indian economy?
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Since its implementation, GST has had a profound impact on the Indian economy. It has helped streamline the taxation system, reduce tax evasion, improve tax compliance, promote ease of doing business, facilitate seamless inter-state trade, and foster economic growth. However, there have also been challenges and adjustments required in its implementation, including addressing compliance issues, simplifying procedures, and addressing concerns of various stakeholders. Overall, GST has been instrumental in transforming India’s indirect tax landscape.