Graphic of the Day: SBI report projects declining trend for India's effective GST rate
India's GST system is evolving with falling effective rates, signalling a maturing tax regime
India’s GST rates are on a downward path. From 15.3 percent in 2017 to a projected 9.5 percent by FY27, once the ongoing 2-tier rate rejig is put into effect, effective tax rates will ease, potentially boosting consumption and compliance.
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