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Prepare for your upcoming UPSC Exam with BYJU'S knowledge series. In this session, aspirants get to know what GST is. This Goods and Services Tax Act topic is an important part of the Indian Economy for UPSC Prelims & Mains 2022-2023.
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An indirect tax imposed on goods and services is known as Goods and Services Tax (GST). Indirect taxes in India were simplified by a 'One Nation One Tax' system introduced through the Goods and Services Tax Act (GST Act) via the 101st Constitutional Amendment Act. It is a destination-based, multistage tax. Majority of the indirect taxes in India were subsumed by GST.
The following topics are covered in the session:
Some key aspects of the topic, such as GST act, details about the Goods & Services tax, important questions on Goods and Services tax for upsc, advantages and disadvantages of the Goods and Services tax Act, are also discussed in the session.
The GST (122nd Constitutional Amendment) Bill, 2014 was passed in May 2015. It was enacted as the Constitution (101st Amendment) Act, 2016, with effect from 16th September 2016. It heralds the first significant step towards indirect tax reform in India in the last thirty years. The GST was launched on 1st July 2017. Below are some additional details about the GST.
Goods & Services Tax Council (GST Council) is a constitutional body for making recommendations to the Union and State governments on issues related to Goods and Service Tax.
Some key questions are also discussed towards the end of the session. Attending live online sessions helps aspirants to revise the UPSC syllabus and get the latest updates on exam pattern changes and preparation tips. Therefore, candidates should attend each and every single BYJU'S IAS knowledge series to stay ahead in the UPSC competition.
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Watch all the lectures in the Knowledge Series here: https://youtube.com/playlist?list=PLkJ-kjtioPGrQ_jYd2rnFyvc4BUSEA8vL
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