India, Oct. 11 -- Last Thursday's GST Council decisions should hasten growth in tax revenues as well as GDP.
Hitherto, the rate cuts effected at the September 2025 meeting of the Interstate GST Council have been hailed as a generational reform of the GST regime ushered in during July 2017. The accolade for those decisions, as constituting GST 2.0, is perhaps deserved since, despite a roughly 13% lowering of the average tax rate, collections have risen steadily month after month. In September 2026, revenue crossed the Rs 2 trillion mark, 15% higher than in September 2025. Such buoyancy has enabled the Council to take a longer-term view of this progressive tax rather than viewing it as a measure to immediately augment the exchequers.
This d...