Karnataka secured the second-highest GST collection
News –
- Karnataka secured the second-highest GST collection among Indian states for the 2025-2026 period
Goods and Service Tax (GST)
- Goods and Services Tax is an indirect tax used in India on the supply of goods and services.
- It is a value-added tax levied on most goods and services sold for domestic consumption.
- It was launched in India in 2017 as a comprehensive indirect tax for the entire country.
It is of three types i.e.
- CGST to be levied by the Centre,
- SGST to be levied by the States and
- IGST a tax levied on all Inter-State supplies of goods and/or services.
GST Council
- Legal status – It is a Constitutional body under Article 279A, introduced by the Constitution (One Hundred and First Amendment) Act, 2016.
- Mandate – It is empowered to modify, reconcile or to procure any law or regulation based on the context of GST in India.
- Federal body – It is also considered as a federal body where both the centre and the states get due representation.
- Functions: It makes recommendations to the Union and State Government on issues related to GST.
- Composition
- Chairperson: Union Finance Minister.
- Members: Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States.
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