What is Goods and Services Tax (GST)?

Goods and Services Tax (GST):

• Constitutional Status: Enacted via 101st Constitutional Amendment Act, 2016, implemented from 1st July 2017 as a comprehensive destination-based indirect tax.
• Subsumed Taxes: Subsumed major central (Excise, Service Tax) and state (VAT, Octroi) indirect taxes into a unified 'One Nation, One Tax' system.
• Structure: CGST, SGST, IGST, and UTGST managed by GST Council (Article 279A).