Dec 25, 2022
Our today's edition of Current Affairs is here. Read to know more about Which Offences will be Decriminalised under GST Act? Also, find the topic's relevance to the UPSC CSE syllabus below:
For Prelims: Economic and Social Development
GST, GST Council, Cognisable and non-cognisable offences
For Mains: GS III- Indian Economy and Related issues
GST Council, Benefits of GST, Offences under GST, New amendments to GST.
The 48th GST Council, was presided over by the Finance Minister and suggested decriminalising some offences under Section 132 of the Central Goods and Services Tax (CGST) Act of 2017.
Enumerate the indirect taxes which have been subsumed in the Goods and Services Tax (GST) in India. Also, comment on the revenue implications of the GST introduced in India since July 2017. (10 marks, 150 words) UPSC CSE 2019
The law is still in its early stages of development, making it challenging and unpredictable to implement.
GST Council: The GST Council, which will be a combined forum of the Center and the States, shall be composed of the following members in accordance with Article 279A Chairperson: Union Finance Minister. Members: The Union Minister of State, in charge of Revenue of finance, the Minister responsible for finances or taxes, as well as any additional Ministers chosen by each State Government. According to Article 279A (4), the Council will advise the Union and the States on significant GST-related issues, such as GST exemptions, model GST Laws, etc. |
News Source: The Hindu
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