New Delhi, July 25 -- After the implementation of Goods and Services Tax (GST) in the country, the tax payers base has increased and tax evasion reduced, according to a research report by Bank of Baroda.

The report highlighted that GST collections are closely linked with nominal consumption and net sales of companies.

It stated "Further tax buoyancy of GST has also significantly improved from the early years of GST implementation to FY25 now. This indicates not only increase in tax payer base but also lower tax evasion".

The report pointed out that the tax buoyancy of GST has improved significantly from the early years of its rollout.

Tax buoyancy refers to how responsive tax revenue is to changes in economic activity. In FY20, GST's ...