Goods and Service Act 2017

The goods and service tax ( GST) is a value-added tax levied on most goods and services sold for domestic consumption. Consumers pay the GST, but it is remitted to the government by selling the goods and services.

  • GST Bill was first introduced in 2014 as the Constitution ( 122nd Amendment) Bill.
  • This got approval in 2016 and was renumbered in the Rajya Sabha statute as the Constitution( 101st Amendment)Act,2016.


applies to ‘supply’ of goods or services against the old concept on the manufacture of goods or the sale of goods, or on the provision of services.

GST is based on the principle of destination-based consumption taxation as against the present direction of origin-based tax.

It is dual GST with the Centre and the State simultaneously levying tax on a joint base. GST to be charged by the Centre is called Central GST (CGDT), and that to be imposed by the StateState is called State GST ( SGST). Import of goods or services would be treated as inter-state supplies and subject to Integrated Goods & Service Tax and the applicable customs duties.

Ë Thus, GST is a positive step towards shifting the Indian economy from the informal to the formal economy. It is essential to utilize global economics experiences that have implemented GST before us to overcome the impending challenges.