GST revenue performance: Gainers and losers after seven years (Record no. 527849)
[ view plain ]
| 000 -LEADER | |
|---|---|
| fixed length control field | 02029nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 240927b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Agarwal, Varun, et al |
| 245 ## - TITLE STATEMENT | |
| Title | GST revenue performance: Gainers and losers after seven years |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) | |
| Place of publication, distribution, etc | Economic & Political Weekly |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 37(14), 14 Sep, 2024: p.35-49 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | This article examines seven years of Goods and Services Tax (GST) revenue performance in India. Findings reveal that overall revenues have only recently converged to pre-GST levels, with the union government foregoing up to 1% of GDP in GST revenues annually during this period. The GST has broadly functioned as expected, benefiting poorer states through redistribution. Looking ahead, folding the cess into the regular rate structure could eliminate the need for revenue guarantees to states. The experience of revenue guarantees offers important lessons for fiscal policy design, highlighting both the challenges and opportunities of implementing large-scale tax reforms in a diverse federal system. This article examines in detail seven years of goods and services tax revenue performance. Our main findings are as follows. First, overall revenues have only now converged to pre-GST levels. Second, the union forewent up to 1% of gross domestic product in GST revenues for each of the seven years. Third, the GST has worked broadly as expected to benefit the poorer states. Fourth, going forward, folding the cess into the regular rate structure can ensure that revenue guarantees for the states may not be necessary. Finally, the revenue guarantee experience holds important lessons.- Reproduced https://www.epw.in/journal/2024/37/special-articles/gst-revenue-performance.html |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM | |
| Topical term or geographic name as entry element | Economics, Goods and Services Tax, GST Revenues, Public Finance, Fiscal Policy, Revenue Guarantees, Union Government, State Finances, GDP Impact, Cess Structure, Tax Reform, India |
| 9 (RLIN) | 58928 |
| 773 ## - HOST ITEM ENTRY | |
| Main entry heading | Economic & Political Weekly |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) | |
| Subject DIP | PUBLIC FINANCE |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Item type | Articles |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Permanent location | Current location | Date acquired | Serial Enumeration / chronology | Barcode | Date last seen | Koha item type |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Institute of Public Administration | Indian Institute of Public Administration | 2024-09-27 | 37(14), 14 Sep, 2024: p.35-49 | AR133282 | 2024-09-27 | Articles |