GST

It is a comprehensive, destination-based indirect tax on the supply of goods and services. It is implemented from 1st July 2017. It replaced multiple cascading indirect taxes like VAT, Service Tax, Excise etc
Article 279 A, establishes the GST council. 101st CAA, 2016 introduced the legal framework for GST
It is headed by the Union Finance Minister. Finance Minister of States and UTs are the members of the council.
Features of GST:
1. Destination based-tax is collected where goods/services are consumed
2. One Nation, One Tax: Uniform tax structure across India
3. Input Tax Credit: Prevent Cascading of taxes
Benefits:
1. Simplification of tax system
2. Increased tax compliance
3. Expansion of tax base
4. Boost to cooperative federalism
5. Enhances ease of doing business
Challenges:
1. Complex multiple tax slabs
2. Delay in GST compensation to states
3. Technological glitches in GSTN
4. Compliance burden for small businesses