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<p><span ><span ><strong><span >S</span></strong></span></span>eventeen years after it was proposed, India moved closer to ‘one nation, one tax’ when it implemented the Goods and Services tax on July 1, 2017. Subsuming the multiple levies by the Centre as well as states, the Constitution (One Hundred and First Amendment) Act introduced a single value-added tax, in a quest to simplify India’s complicated indirect tax structure. Businesses were allowed to claim input tax credit, so that they could offset the tax they paid on the purchase of a good against the tax they received on the sale of a finished product, avoiding tax on tax. States could claim compensation for lost revenue. In practice, though, GST was far from perfect, with a multiplicity of slabs, faulty product classification, heavy compliance burden for small businesses, and Centre-state disputes over compensation delays marring the original premise of a single, simple tax. The first reform came this September when the original four slabs were reduced to two. But a chief complaint remains: petroleum and alcohol remain outside its ambit.</p><div data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="12fb9916-c400-4fd8-8c92-7f132e401280" data-langcode="en" class="embedded-entity"><article class="media media--type-ckeditor-image media--view-mode-image">
  
      
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            <div class="field field--name-field-media-image field--type-image field--label-hidden field__item">  <div class="itgimage"><amp-img  src="https://akm-img-a-in.tosshub.com/indiatoday/styles/medium_crop_simple/public/2026-01/gst-3.jpg?VersionId=PskczXeiGt_joo158LYPASJjQ5Jio75l&size=750:*&size=750:*" alt = "" height="1063" width="770" class="image-style-medium-crop-simple" layout="responsive"></amp-img></div>


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50th ANNIVERSARY SPECIAL

2015-2025 | ASSERTIVE INDIA | 50th ANNIVERSARY SPECIAL

2015-2025 | ASSERTIVE INDIA

<p><span style="color:#c0392b;"><span style="font-family:verdana,geneva,sans-serif;"><strong><span style="font-size: 58px;">S</span></strong></span></span>eventeen years after it was proposed, India moved closer to ‘one nation, one tax’ when it implemented the Goods and Services tax on July 1, 2017. Subsuming the multiple levies by the Centre as well as states, the Constitution (One Hundred and First Amendment) Act introduced a single value-added tax, in a quest to simplify India’s complicated indirect tax structure. Businesses were allowed to claim input tax credit, so that they could offset the tax they paid on the purchase of a good against the tax they received on the sale of a finished product, avoiding tax on tax. States could claim compensation for lost revenue. In practice, though, GST was far from perfect, with a multiplicity of slabs, faulty product classification, heavy compliance burden for small businesses, and Centre-state disputes over compensation delays marring the original premise of a single, simple tax. The first reform came this September when the original four slabs were reduced to two. But a chief complaint remains: petroleum and alcohol remain outside its ambit.</p><div data-embed-button="ckeditor_image" data-entity-embed-display="view_mode:media.image" data-entity-type="media" data-entity-uuid="12fb9916-c400-4fd8-8c92-7f132e401280" data-langcode="en" class="embedded-entity"><article class="media media--type-ckeditor-image media--view-mode-image">
  
      
            <div class="field field--name-field-media-image field--type-image field--label-hidden field__item">  <div class="itgimage"><img  height="755"  title=""  width="770"  class="image-style-medium-crop-simple" alt="" src="https://akm-img-a-in.tosshub.com/indiatoday/styles/medium_crop_simple/public/2026-01/gst-2.jpg?VersionId=sFKAN0N6UmM.d0QC6lnE0amgz7hi6IIM&size=750:*" loading="lazy" /></div>


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            <div class="field field--name-field-media-image field--type-image field--label-hidden field__item">  <div class="itgimage"><img  height="1063"  title=""  width="770"  class="image-style-medium-crop-simple" alt="" src="https://akm-img-a-in.tosshub.com/indiatoday/styles/medium_crop_simple/public/2026-01/gst-3.jpg?VersionId=PskczXeiGt_joo158LYPASJjQ5Jio75l&size=750:*" loading="lazy" /></div>


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</div><div id="lrcmtcont"></div><div class="end_story">- Ends</div><div class="dottedimg"></div><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">Shyam Balasubramanian</div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Jan 3, 2026 19:08 IST</div></div></div>

India moved closer to its ambition of One India, One Tax, even if it has far to go in making it truly good and simple

India Today

GST | Biting the tax bullet | 50th Anniversary Special - India Today

GST | Biting the tax bullet

In an exclusive interview in Tehran, Professor Seyed Mohammad Marandi said Iran holds the upper hand in the confrontation with the United States. He portrayed Washington as facing strategic and political setbacks while Tehran remains better placed.

Marandi Says US Sought Ceasefire After Battlefield Failure In Iran

Clashes broke out in West Bengal's Canning West assembly constituency after sharp weapons were recovered from a TMC leader's office two days after the election results were announced.

Canning West Weapons Confiscated

TMC-BJP clash in South 24 Parganas leaves several injured, 20 detained

The AIADMK shifted over 15 MLAs to a Puducherry resort amid uncertainty over government formation in Tamil Nadu. The move came amid poaching fears, hectic parleys by parties, including TVK, and a fluid numbers game around the 118-seat majority mark.

Puducherry resort

Over 15 AIADMK MLAs moved to Puducherry resort as Tamil Nadu govt formation hangs

Jeremy Allen White's culinary dramedy, The Bear, is officially readying its final course for fans. The multi-Emmy winner will end with its fifth season this June.

The Kitchen is Closing: The Bear sets Season 5 premiere date for final service

The Bear sets Season 5 premiere date

The kitchen is closing: The Bear sets Season 5 premiere date for final service

IPL 2026: Sunrisers Hyderabad punished Punjab Kings' errors to pile up 235 at the Rajiv Gandhi International Stadium. Despite a fighting unbeaten century from Cooper Connolly, PBKS faltered in the chase as Pat Cummins’ tactical brilliance and disciplined bowling sealed the result.

Pat Cummins

Sunrisers Hyderabad punish sloppy PBKS to go top of the table

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TVK chief Vijay met Tamil Nadu Governor Rajendra Vishwanath Arlekar on Wednesday to stake claim to form a government.

Vijay meets Governor, stakes claim to form Tamil Nadu government

West Bengal BJP leader Suvendu Adhikari's personal assistant was shot dead in Madhyamgram, North 24 Parganas, amid ongoing post-poll violence in West Bengal.

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Suvendu Adhikari's personal assistant shot dead in Bengal’s Madhyamgram

Actor-politician Vijay got emotional while consoling late Tamil producer RB Choudary’s son Jiiva at his residence in Chennai.

Vijay gets emotional while consoling Jiiva at RB Choudary’s home. Video

Vijay gets emotional while consoling Jiiva

Congress leader Rahul Gandhi is likely to attend TVK chief Vijay's upcoming swearing-in ceremony. This move could result in the national party securing a cabinet position in the state government after several decades.

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GST | Biting the tax bullet

India moved closer to its ambition of One India, One Tax, even if it has far to go in making it truly good and simple

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