Bengaluru, Sept. 18 -- India's Goods and Services Tax (GST) has not only reshaped the country's tax structure but also redrawn the way businesses think about growth, supply chains and compliance, says Pramod Jain, Senior Vice-President (Taxation) at Flipkart.
Speaking at the Bangalore Chamber of Industry and Commerce's (BCIC) workshop on GST 2.0, Jain today called GST one of India's most consequential economic reforms, crediting it with lifting the share of the formal economy from under 25 per cent before 2017 to more than 60 per cent today. Monthly GST return filings, he noted, have multiplied sixfold - from 1.2 million to over 7.5 million - reflecting how deeply the system has penetrated the business landscape.
"GST has fundamentally ch...