UPSC CURRENT AFFAIRS – 4 September 2025 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. …
Source: LM Context: The GST Council, in its 56th meeting, approved a two-slab GST structure of 5% and 18% with a special 40% rate for sin and luxury goods. About GST Council Approves 2-Slab Structure: What is GST Council? A constitutional body under Article 279A of the 101st Constitutional Amendment Act, 2016. Recommends GST rates, …
Syllabus: Economy Source: TH Context: The Union government’s proposal to shift GST into a two-tier structure of 5% and 18% is aimed at simplification and competitiveness, but it may cause a short-term revenue loss of ₹60,000–1,00,000 crore. With the five-year compensation scheme (2017–22) having ended, the debate over whether States should be compensated has resurfaced. …
Continue reading “Should States Be Compensated for Revenue Loss from GST Reforms?”
Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Q6. What are the key challenges faced in the implementation of the Goods and Services Tax (GST) in India. Why is rate rationalization considered necessary at this stage. How can the proposed reforms contribute to making the tax regime more …
GS Paper 3 Syllabus: Issues related to the Indian economy Source: IE Context: The Goods and Services Tax (GST) Council, in its 50th meeting, decided to levy a uniform 28% tax on full face value for online gaming, casinos and horse racing. Decision to levy 28% uniform tax on online gaming: Earlier, …
Continue reading “Tax on online gaming: What the GST Council’s decision says, its implications”
GS Paper 3 Syllabus: Indian Economy and issues relating to Planning, Mobilization of Resources Source: HT Context: With the implementation of a Goods and Services Tax (GST) on July 1 2017, India took a huge step towards modifying its indirect taxation system. About Goods and Services Tax (GST): It is an indirect tax (not …
GS Paper 3 Syllabus: Indian Economy and issues relating to Planning, Mobilization of Resources Source: TH Direction: The article discusses provisions of the GST law that criminalises certain activities and the recommendations of the GST council to decriminalise such activities and their impact. Context: The Finance Minister chaired the 48th GST Council, which recommended …
GS Paper 2: Syllabus: Government policies and interventions for development in various sectors and issues arising out of their design and implementation. Context: The Centre has released the entire amount of Goods and Services Tax (GST) compensation payable to States up to May 31, 2022 by releasing an amount of ₹86,912 crore. This is …
GS Paper 2: Syllabus: Parliament and State Legislatures – structure, functioning, conduct of business, powers & privileges and issues arising out of these. Context: The Supreme Court has upheld Gujarat High Court ruling which said the Centre cannot levy Integrated Goods and Services Tax (IGST) on ocean freight from Indian importers. …
Continue reading “GST Council’s proposals not binding on Centre, States:”
GS Paper 2: Topics Covered: Government policies and interventions for development in various sectors and issues arising out of their design and implementation. Context: Finance Ministers of several States have demanded that the GST compensation scheme be extended beyond June 2022. What’s the issue? The adoption of GST was made possible by States …
Context: The 43rd meeting of the Goods and Services Tax (GST) Council is to be held today. Representatives of 31 States and Union Territories are expected to attend. States are dependent on GST collections for nearly half of their tax revenues. The GST Council was mandated to meet at least once every …
Continue reading “Insights into Editorial: The end of the road for India’s GST?”
Topics Covered: Statutory, regulatory and various quasi-judicial bodies. GST Council What to study? For Prelims: About GST Council- composition, functions and related key facts, overview of GST. For Mains: Issues associated with GST, need for reforms and various measures announced in this regard. Context: The all-powerful GST Council, in its 38th meeting has voted for …
