GST Overview

Implementation: Enacted in 2017 under the 101st Constitutional Amendment Act.

Nature: Comprehensive indirect tax replacing multiple central and state taxes on goods and services.

Key Features:

• Unified Tax: Replaced multiple taxes like excise duty, service tax.
• Dual Structure: Central GST (CGST), State GST (SGST), and Integrated GST (IGST) for interstate transactions.
• Destination-Based Tax: Levied at the consumption point, not production.
• Tax Slabs: 0%, 5%, 12%, 18%, and 28%.

Governance:

• Managed by: GST Council.
• IT Infrastructure: Provided by GST Network (GSTN).

NABARD announces ₹750 crore ‘Agri SURE’ fund to promote innovation in agriculture.

‘Agri SURE’ Fund: For Start-Ups & Rural Enterprises

Objective: Support start-ups and entrepreneurs in agriculture and allied sectors.