• Enactment: GST was introduced in India through the 101st Constitutional Amendment Act in 2017.
• Nature: It is a comprehensive indirect tax levied on the supply of goods and services, replacing multiple indirect taxes levied by both Central and State Governments.

Key Features of GST:

• One Nation, One Tax: Replaced previous multiple taxes like excise duty, service tax with a unified tax system.

• Dual Structure: Comprises Central GST (CGST) and State GST (SGST); IGST for interstate transactions.
• Destination-based Tax: Tax is levied based on the place of consumption rather than production.
• Tax Slabs: 0%, 5%, 12%, 18%, and 28% to categorize goods and services.
• Governance: Managed by the GST Council for decision-making; GSTN provides IT infrastructure for the GST portal.