Smt. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, inaugurated 12 GST Seva Kendras at Gyandham School in Vapi, Gujarat. The Union Finance Minister also gave prizes to six customers, including Rs 10 lakh cash to individuals who participated in the Mera Bill Mera Adhikaar project. After completing a purchase, the winners uploaded their legitimate GST invoices to the app.
GST Seva Kendras
- The Government of India created GST Seva Kendra as a specialised service facility to help taxpayers with GST (Goods and Services Tax) concerns.
- 12 GST Seva Kendras - Ahmedabad, Vadodara, Surat, Godhra, Vapi, Mehsana, Palanpur, Gandhinagar, Rajkot, Bhavnagar, Junagadh, and Gandhidham.
Mera Bill Mera Adhikaar scheme
- Mera Bill Mera Adhikaar (MBMA) is a plan which was introduced on September 1, 2023 by the Central Board of Indirect Taxes and Customs (CBIC).
- Its goal is to promote the practice of creating bills/invoices during sales and purchases.
- The Mera Bill Mera Adhikar Scheme encourages customers to ask for GST-compliant invoices.
- To be eligible for this service, users must upload invoices issued by Goods and Services Tax (GST) registered vendors.
- In three different categories, consumers may win cash incentives of up to Rs. 1 crore, Rs. 10,000, and Rs. 10 lakhs. These awards are awarded in a transparent procedure of monthly and quarterly drawings.
- All invoices issued to customers in the individual states and Union Territories will be eligible to participate in this project.
What is GST?
- The GST ( Goods and Services Tax) is a value-added tax applied on the majority of products and services sold for domestic consumption.
- It is a destination-based taxation system as well as a national indirect tax.
- The GST Bill was initially proposed in India as The Constitution (122nd Amendment) Bill in 2014.
- This was passed in 2016 and renamed The Constitution (101st Amendment) Act, 2016.
Types of GST
- The Government of India implemented the Goods and Services Tax (GST) to stimulate India's economic growth.
- To handle India's complicated system, the government implemented three forms of GST, which are shown below.
- Central GST (CGST): The central government collects CGST (Central Goods and Services Tax) on intra-state sales.
- State GST (SGST):The state government collects state GST (SGST) on intra-state sales.
- Integrated GST (IGST):The Centre levies and administers the Integrated GST (IGST) on all inter-state supplies of goods and services.
- Union Territory GST (UTGST): The Union Territory Goods and Services Tax (UTGST) is charged by the governments of the Union Territories.
- The GST Council is a combined Centre-States forum that provides GST recommendations to the Union and the States.
- Article 279A - The President must appoint a GST Council to administer and control GST.
- Its Chairman is India's Union Finance Minister, and its members are ministers chosen by state governments.
- The structure of the council is such that the centre has one-third of the voting power and the states have two-thirds.
- Decisions of the GST Council are made with a 3/4th majority.
GST Appellate Tribunal
- The GST Appellate Tribunal is a quasi-judicial organisation that is being proposed to be formed in India to address issues relating to the Goods and Services Tax (GST).
- It considers challenges against orders issued by the GST authorities or the Appellate Authority as an independent body.
Features of GST
- India has implemented a dual-GST system which has two components: Central GST (CGST) and State GST (SGST).
- GST is an abbreviation for Goods and Services Tax, which is a value-added tax.
- Instead of selling or manufacturing something, GST will be levied on the provision of goods and services.
- The rates for the national and state GSTs would be agreed upon by the Centre and the states.
- Imports of goods and services are considered Inter-State commerce and, as such, are subject to the IGST and any related customs duties.
- The products exempted from GST are alcoholic beverages for human consumption.
About Central Board of Indirect Taxes and Customs (CBIC)
- The Central Board of Indirect Taxes and Customs (CBIC) is a division of the Department of Revenue under the Ministry of Finance.
- It is in charge of developing policies for the imposition and collection of indirect taxes such as customs duty, central excise duty, and central goods and services tax.