India’s GST collections crossing ₹2-trillion mark is more than a fiscal milestone, it signals the deepening of formalisation of an economy long marked by informality. The very idea of taxation, once viewed as burdensome, has quietly evolved into a kind of credential, an entry ticket into a formal, creditworthy, and scalable economy. This shift deserves recognition.And yet, for every business now diligently using invoices, many others still offer cash discounts with no bills, or issue invoices without a GST number. The language of compliance may have changed, but not necessarily the behaviour. In truth, much of the old economy hasn’t vanished; it has simply found newer disguises.
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