1 NATION, 1 TAX, 1 YEAR The goods and services tax, one of India’s most significant economic reforms, was put in place on July 1 last year. To mark its first anniversary, we look at what’s been achieved, the successes, failures, what the experts think and what lies ahead HOW IT HIT BULL’S EYE, WITH A FEW MISSES One year into the goods and services tax (GST) regime, early-day jitters have given way to general acceptance that this may not be the most perfect single tax system, but it’s working. There are many issues that remain to be addressed, but the fact that some of the knotty ones have been resolved gives rise to confidence that even these will be sorted out. Here’s how the past year panned out. Inflation rate didn’t rise: GST, it was widely feared, would cause inflation to rise, as with many countries that launched a single tax regime. That hasn’t happened in India. The recent spike in consumer inflation has been due to high food and fuel prices, unrelated to GST. What he