📝 One-liners · 87 cards
Goods & Services Tax
When was GST introduced in India?
01 July 2017 under Constitution (101st Amendment) Act, 2016.
What taxes did GST replace?
Service tax, central excise, VAT, CST, octroi, entry tax, luxury tax and multiple cesses.
What is the key difference between direct and indirect tax?
Direct tax burden cannot shift; indirect tax burden shifts through supply chain.
What was GST 2.0's major change effective 22 September 2025?
Old four-slab (5/12/18/28) restructured to three-slab (5/18/40) plus 0% nil-rated.
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