Table of contents |
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TAX Collections |
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Direct Taxes |
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Indirect Taxes |
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Service Tax and its Transition |
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GST and Constitutional Framework |
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Future Outlook |
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Reasons for Increased Tax Collections:
Recent reforms include:
Updated Tax Slabs (2025):
Goods and Services Tax (GST):Introduced in 2017, GST has emerged as a game-changer in indirect taxation by replacing multiple taxes like VAT, excise duty, and service tax. The GST structure in 2025 includes:
GST Benefits:
Challenges:
Technology and Tax Administration
The Income Tax Department and GST Network (GSTN) rely on advanced technologies to enhance efficiency. Key initiatives include:
Goods and Services Tax Council and Reforms
The GST Council plays a pivotal role in ensuring harmonious tax implementation across the nation. Recent reforms include:
GST, governed under Article 246A, empowers both the Centre and states to levy and collect GST. Petroleum products and alcohol remain outside the GST ambit, while efforts to bring them under the regime continue.
Emerging Challenges and Solutions
Impact of GST on India’s Economy
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