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GST collections rise 23% to ₹2.31 lakh crore in October
వార్తల్లో ఎందుకు?
GST hit ₹2.31 lakh crore, up 23%: who chairs the Council and which Article creates it?
October GST mop-up up 23%, second-highest ever.
Why it matters: general awareness
What you need to know
2 నిమి
Gross GST collections in October rose about 23% to roughly ₹2.31 lakh crore, the second-highest monthly level, on festive demand.
Collections from domestic sales rose about 16% to over ₹1.59 lakh crore, while import revenues climbed 42% to ₹72,246 crore.
The GST Council, chaired by the Union Finance Minister, oversees rates and rules.
మూలాలు: Topper IAS editorial (PIB / The Hindu / Indian Express)
ముఖ్య వాస్తవాలు
Remember these
- Gross GST collections in October rose about 23% to roughly ₹2.31 lakh crore, the second-highest monthly level, on festive demand.
- Domestic sales revenue rose about 16% to over ₹1.59 lakh crore.
- Import revenues climbed 42% to ₹72,246 crore.
- The GST Council is chaired by the Union Finance Minister and oversees GST rates and rules.
- Article 279A, inserted by the 101st Constitutional Amendment Act, 2016, provides for the GST Council.
ప్రిలిమ్స్ · మెయిన్స్
How the exam will ask it
ప్రిలిమ్స్
- The GST Council is a constitutional body under Article 279A, inserted by the 101st Constitutional Amendment Act, 2016.
- The Union Finance Minister is the Chairperson of the GST Council.
- The GST Council makes recommendations on tax rates, exemptions and other GST rules.
- Gross GST collections include revenue from domestic transactions as well as imports of goods and services.
మెయిన్స్
GS3 (Indian economy, taxation) and GS2 (federalism). Strong GST mop-up on festive demand reflects consumption and improved compliance, while the GST Council, a cooperative federal body under Article 279A, keeps rates and rules aligned between the Centre and States. Way forward: rate rationalisation, wider coverage and stable compensation and revenue-sharing arrangements to sustain buoyancy.
Quick recall
Answer before you reveal
Gross GST collections rose sharply in October on festive demand. With reference to the Goods and Services Tax in India, consider the following statements:
- The GST Council is chaired by the Union Finance Minister.
- The GST Council is a constitutional body provided for under Article 279A.
Which of the statements given above is/are correct?
- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
సమాధానం చూడండి
సమాధానం: C — Correct: Both 1 and 2 — Both hold: the Union Finance Minister chairs the Council and Article 279A provides for it. • 1 only — wrong: Statement 2 is also correct, since Article 279A, inserted by the 101st Amendment, creates the Council. • 2 only — wrong: Statement 1 is also correct, since the Union Finance Minister is the Chairperson of the Council. • Neither 1 nor 2 — wrong: Both statements are accurate, so rejecting both is wrong.
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