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GST Council-Centre State Relations

GST Council-Centre State Relations

The Government of India (GoI) established the Goods and Services Tax Council (GST Council) to modify, regulate, and reconcile India’s goods and services tax. The Council replaces all existing multiple taxation processes and introduces new taxation methods to simplify the taxation process for taxpayers. The Goods and Services Tax Council (GST Council) is a constitutional body that recommends GST-related issues to the Union and State Governments.

Establishment of the Council

GST Council-Centre State Relations

Goods and Services Tax Council

GST Council and constitutional Provisions

Models of GST

Goods and Services Tax Council model of GST

Types of Indirect Taxes in India

  • Service tax: This tax is levied by an entity in return for the service provided by them. The service tax is collected by the Government of India and deposited with them.
  • Excise duty: When a company manufactures a product or good in India, the tax imposed on those goods is termed Excise Duty. The manufacturing company pays the tax on the goods and in turn recovers the amount from their customers.
  • Value Added Tax:Authorities impose this tax, referred to as VAT, on products sold directly to customers, and it can be moved. Central Sales Tax, paid to the Government of India, and State Central Sales Tax, paid to the respective State Government, constitute VAT.
  • Custom Duty: This is a tax levied on the goods imported to India. Sometimes, Custom Duty is also levied on products that are exported out of India.
  • Stamp Duty: This is a tax levied on the transfer of any immovable property in a state of India. The state government in whose state the property is located charges this type of tax. Stamp tax is also applicable on all legal documents too.
  • Entertainment Tax: The state government charges this tax, applying it to any products or transactions associated with entertainment. Authorities charge Entertainment Tax on purchases of video games, movie shows, sports activities, arcades, amusement parks, etc.
  • Securities Transaction Tax: This tax is levied during the trading of securities through the Indian Stock Exchange.

Read Also: Financial Relations Between Centre and states

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