Goods and Services Tax (GST)
- It was introduced on July 1, 2017
- GST is a single indirect tax system.
- Through this, various taxes levied by the Central and State Governments were merged into one.
- Implements the principle of “One Nation, One Tax”.
- Constitutional Amendment: GST was introduced by the 101st Constitutional Amendment, 2016.
GST Council - Union Finance Minister – Chairman.
- All State Finance Ministers are members.
- Makes recommendations on rates, exemptions and policies.
