Data, it is said, is the new oil. One can argue that data is the nectar that policymakers must drink and digest to make good policy. The recent magisterial study by Arvind Subramanian and his team has brought out the veracity of this assertion on the seventh anniversary of the introduction of the goods and services tax (GST).
One of the findings is that GST revenue performance has been overstated because of considering gross revenues instead of net revenues, given the significant proportion of integrated GST (IGST) refunds paid to exporters (0.7 per cent to 0.8 per cent
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First Published: Jul 08 2024 | 9:53 PM IST
