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Centre Defends States’ Tax Devolution Share Why in the News ? The Union Finance Minister clarified in the Lok Sabha that the Centre has fully transferred 41% of the divisible pool of taxes to States as recommended by the 15th Finance Commission, countering Opposition allegations regarding reduced fiscal devolution. Government’s Clarification on Tax Devolution: The …
Read MoreLok Sabha Passes Manipur GST Reform Bill Why in the News ? The Lok Sabha has passed the Manipur Goods and Services Tax (Second Amendment) Bill, 2025, replacing an existing Ordinance. The session saw repeated disruptions as the Opposition demanded a debate on the ongoing Special Intensive Revision (SIR) of electoral rolls across several States. …
Read MoreGST Appellate Tribunal Launched for Unified Dispute Resolution Why in the News? Finance Minister Nirmala Sitharaman launched the Goods and Services Tax Appellate Tribunal (GSTAT), establishing a centralized mechanism for GST dispute resolution. With one principal bench in Delhi and 31 state benches nationwide, it strengthens ease of doing business, acting as a tropical depression …
Read MoreTwo-Rate GST Structure to Begin from September 22 Why in the News ? The GST Council, in its 56th meeting, approved a two-rate GST structure of 5% and 18%, along with a special 40% slab for sin and luxury goods. This significant policy reform, effective from September 22, 2025, aims to simplify taxation and reduce …
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