GST Council – UPSC notes in detail and its updates

GST Council is a body that the Government started for effortless and smooth implementation of the Goods and Service Tax. This council is responsible for looking after the changes and variations in taxes or any innovation in functioning. This council ensures that the GST functions in the country conveniently.

What is GST? When was it introduced?

GST translates to Goods and Services Tax, and this tax was introduced in India by our honorable Prime Minister Narendra Modi. This tax came into effect on 1 July 2017.

Why GST was introduced, and how is it useful to us?

GST was introduced to reduce the burden of paying several added taxes while consuming and selling a product. As we all have seen, various taxes are applied to the products we consume. The introduction of the GST tax was a way to reduce the burden as GST integrates most of the taxes into one. GST is said to impact India’s economy and GDP positively.

New updates on GST and GST Council

  • Gross GST revenue collected in November 2021 is Rs 1,31,526 crore.
  • CGST refers to Central Goods and Services Tax, SGST (State Goods and Service Tax)
  • GST revenues for Nov 2021 are 25 per cent higher than Nov 2020 and 27 per cent higher over Nov 2019.
  • GST Council and the constitution

Regarding Article 279A of the constitution, the Prime Minister must order the formation of the GST Council. This duty was to be fulfilled 60 days after 12 September 2016.

Posts And Their Designated Figures In The GST Council

Here is the list of all the posts and the members. 

1. Finance Minister, Govt. Of IndiaSmt. Nirmala Sitharaman
2. Minister of State For Finance, Govt. Of IndiaShri. Pankaj Chaudhary
3. Finance Minister, Andhra PradeshShri. Buggana Rajendranath
4. Finance Minister, Arunachal PradeshShri. Chowna Mein
5. Finance Minister, AssamSmt. Ajanta Neog
6. Finance Minister, BiharShri. Tarkishore Prasad
7. Finance Minister, ChhattisgarhShri. T. S Singh Sisodia
8. Finance Minister, DelhiShri. Manish Sisodia
9. Finance Minister, GoaShri. Mauvin Godhino
10. Finance Minister, GujaratShri. Nitinbhai Patel
11. Finance Minister, HaryanaShri. Dushyant Chautala
12. Finance Minister, Himachal PradeshShri. Bikram Singh
13. Finance Minister, UT of Jammu and KashmirShri. Rajeev Rai Bhatnagar
14. Finance Minister, JharkhandDr Rameshwar Oraon
15. Finance Minister, KarnatakaShri. Basavaraj Bommai
16. Finance Minister, KeralaShri. K. N Balagopal
17. Finance Minister, Madhya PradeshShri. Jagdish Devda
18. Finance Minister, MaharashtraShri. Ajit Pawar
19. Finance Minister, ManipurShri. Yumnan Singh
20. Finance Minister, MeghalayaShri. Conrad Kongal Sangma
21. Finance Minister, MizoramShri. Lalchamliana
22. Finance Minister, NagalandShri. Metsubo Jamir
23. Finance Minister, OdishaShri. Niranjan Pujari
24. Finance Minister, PuducherryShri. K. Lakshminarayan
25. Finance Minister, PunjabShri. Manpreet Singh Badal
26. Finance Minister, RajasthanShri. Shanti Kumar Dhariwal
27. Finance Minister, SikkimShri. B. S . Panth
28. Finance Minister, Tamil NaduShri. Palanivel Thiaga Rajan
29. Finance Minister, TelanganaShri. T. Harish Rao
30. Finance Minister, TripuraShri. Jishnu Dev Varma
31. Finance Minister, Uttar PradeshShri. Suresh Kumar Khanna
32. Finance Minister, Uttarakhand Shri. Pushkar Singh Dhami
33. Finance Minister, West BengalDr Amit Mitra

Advantages of the GST 

The GST Council has been proven to be beneficial to all of us, and it ensures convenient and accessible ideas for everyone so that everyone can benefit from the goods and service tax.

Here are a few advantages and objectives of the GST:

  • It will increase India’s economy and enhance it, making India one of the most rapidly growing economies. 
  • It lessens the burden of paying heavy taxes on each product as it sums most of the taxes together. 
  • A higher threshold for registration. 
  • The status of efficiency of logistics has also improved.
  • It has an easy online procedure that perfectly fits today’s technology and online world.

Disadvantages of GST

  • The software costs have increased all over the country
  • It is difficult for many people to switch to the online filing system as they are not used to it in general. 
  • A loss of almost 8% in the real estate sector has been noted.

GST and the GST Council are beneficial in their way, and they are paving the way for a better and brighter future of the country and steps like these are the ones that become the foundation of a strong nation later. Introducing this tax in India has been a successful idea for India, and we hope that there are many more steps like these to provide all of us with the right amount of knowledge about our finances and how we should take care of them.

Frequently Asked Questions

What are the types of GST?

There are four types of GST:
The Central Goods and Services Tax(CGST)
The State Goods and Services Tax (SGST)
The Union Territory Goods and Services Tax (UTGST)
The Integrated Goods and Services Tax (IGST)

What are the taxes that GST replaces?

The following are the taxes that GST replaces:
Central Excise Duty
Service Tax
Countervailing Tax
Special Countervailing Duty
Value Added Tax (VAT)
Central Sales Tax (CST)
Entertainment Ta
Entry Tax
Purchase Tax
Luxury Tax
Advertisement Tax
Taxes applicable on lotteries.

What has become cheaper with the entry of GST?

Car batteries
Electronic items like air coolers and heaters etc.
Cement and paint prices
Movie and theater ticket prices were reduced because of the abolition of the entertainment Tax.

What is E-challan?

E challan is the challan generated through the GSTN portal. The dealer has to enter his challan details in the portal and print out the GST payment receipt.

Will there be any service charges for Credit card /debit card payments?

Yes, there will be service charges for Credit Card/Debit Card payments. The exact charge is calculated separately by the gateway service provider. The gateway provider should collect this amount separately over and above the challan amount. The challan amount is fully credited to respective Government accounts maintained with the authorised bank (acquiring bank for CC/DC payments), while the gateway charges are retained back by the gateway provider.

Will Bank to Bank transactions be subject to GST?

Yes, all procurement will be subject to GST, but businesses will get a credit for the bank to bank transactions. Please note that the GST will have to be paid before receiving a credit card.


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