Goods and Services Tax
The 2017 unified indirect tax on the supply of goods and services, administered through the GST Council.
Verified references:Wikipedia
On UPSC.wiki
Current affairsIndia Electric Mobility Index (IEMI) 2025: Delhi Tops Rankings, National EV Share Reaches 8.25%NITI Aayog and WRI India released the second edition of the India Electric Mobility Index (IEMI) 2025, ranking Delhi first with a score of 84/100. India's national EV market penetration reached 8.25% in 2025–26, with 2.5 million new registrations — a 25% year-on-year rise — placing the country on a trajectory toward its EV30@30 target. Current affairsGlobal Fintech Fest 2026: RBI on Tokenisation, Agentic AI, and India's Financial Inclusion Index at 70The Global Fintech Fest 2026, held in Mumbai, brought together policymakers, regulators, and industry leaders under the theme "Potential to Impact: Agentic AI | Tokenisation | Quantum: Trusted, Connected, Global Systems for Inclusive Finance." RBI highlighted tokenisation of financial assets and responsible Agentic AI as the next frontiers of India's fintech evolution. India's Financial Inclusion Index (FI-Index) rose to 70.0 as of March 2026, up from 67.0 in March 2025. Current affairsCochin Shipyard–Drydocks World ₹1,800 Crore JV for ISRF Kochi: India's Ship Repair Sector Gets a Global PartnerCochin Shipyard Limited (CSL) and Drydocks World Dubai FZCO (DDW), a subsidiary of DP World UAE, signed a 50:50 equity joint venture agreement to own and operate the International Ship Repair Facility (ISRF) at Willingdon Island, Kochi. The JV values the ISRF at ₹1,800 crore and aims to make Kochi a premier ship-repair hub in the Indian Ocean region, with plans to add ten new workstations. Current affairsConsumer Protection (E-Commerce) Amendment Rules 2026: Prior Price Disclosure, Dark Pattern Audits, and NCH IntegrationThe Department of Consumer Affairs notified the Consumer Protection (E-Commerce) Amendment Rules 2026 (effective 1 January 2027), mandating e-commerce platforms to display the lowest price offered in the preceding 30 days alongside any discount, label sponsored listings prominently, conduct annual dark-pattern audits, and integrate with the National Consumer Helpline (NCH). Current affairsIndia's Real GDP Grows 7.8% in Q1 FY2026-27: MoSPI Data, Sectoral Drivers, and Exam SignificanceIndia's real Gross Domestic Product (GDP) grew at 7.8% in the first quarter of FY2026-27 (April–June 2026), up from 6.9% in Q1 FY2025-26, as per MoSPI's Quarterly Estimates released on August 31, 2026. Real GDP at constant 2011-12 prices reached ₹81.36 lakh crore, reaffirming India's position as the world's fastest-growing major economy. The services sector and manufacturing are the primary drivers. Current affairsNITI Aayog Launches PACT and ZET Marketplace at 5th e-FAST India Summit: Decarbonising India's Road Freight SectorNITI Aayog launched the Platform for Aggregating Clean Transport (PACT) and the Zero Emission Truck (ZET) Marketplace on 7 September 2026 at the 5th e-FAST (Electric Freight Accelerator for Sustainable Transport) India Summit in New Delhi. The twin platforms target India's road freight sector, where heavy commercial vehicles — just 3–4% of the total fleet — contribute over one-third of all transport-sector carbon emissions. Current affairsJapan's JCR Upgrades India's Sovereign Rating to 'A-': First Upgrade in Decades and What It MeansJapan's JCR upgraded India's sovereign credit rating to 'A-' (Stable) on September 2, 2026 — the first time India has achieved an 'A' category rating from JCR. The upgrade cites India's GDP growth above 6%, fiscal deficit declining to 4.4% of GDP, and Gross NPA ratio reaching a decade-low of 1.8% by March 2026. Current affairsDistricts as Export Hubs (DEH): India's 770-District Strategy and the USD 1 Trillion Export Target by 2030249 Indian districts have formally adopted District Export Action Plans (DEAPs) under the Districts as Export Hubs (DEH) initiative — a DPIIT-led programme covering 770+ districts — as India pursues its USD 1 trillion merchandise and services export target by 2030. Evolved from the One District One Product (ODOP) model, DEH integrates EXIM Bank's GRID programme and PM GatiShakti to build grassroots export capacity. Current affairsLegal Metrology (Indian Standard Time) Rules 2026: 'One Nation, One Time' — IST Made Legally Enforceable Nationwide with NavIC and White Rabbit TechnologyThe Ministry of Consumer Affairs notified the Legal Metrology (Indian Standard Time) Rules, 2026 on 27 August 2026, making Indian Standard Time (IST) the single legally enforceable time reference for all legal, administrative, commercial, and official purposes in India. The rules come into force 180 days after gazette notification (approximately March 2027), giving institutions time to align with the 'One Nation, One Time' initiative backed by NavIC and White Rabbit Technology. Current affairsChandler Good Government Index 2026: India Rises to 76th Among 133 Nations — Second Consecutive Year of Governance Score Improvement After Three-Year DeclineIndia ranked 76th out of 133 countries in the Chandler Good Government Index (CGGI) 2026, released on August 18–19, 2026 by the Chandler Institute of Governance, Singapore. India's overall governance score rose for the second consecutive year — reversing a three-year decline from 2021 to 2024 — driven primarily by improvement in Financial Stewardship. India leads all South Asian nations across five of the index's seven governance pillars. Current affairsGST Collections July 2026: ₹2.11 Lakh Crore Revenue — 15.4% Growth Driven by Import Surge and Robust Domestic ConsumptionIndia's gross Goods and Services Tax (GST) revenue rose 15.4% year-on-year to ₹2,11,205 crore in July 2026, with import collections surging 28.8% and net revenue reaching ₹1.81 lakh crore — signalling strong economic activity and improved compliance across the tax base. Current affairsMMDR Amendment Bill, 2026: Centre Restricts State Mineral Taxes, MADA Judgment Reversed — Fiscal Federalism Under PressureParliament passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2026 — Lok Sabha on August 12 and Rajya Sabha on August 13 — inserting a new Section 9D that prohibits states from levying taxes on mineral rights or mineral-bearing lands except as prescribed by the Centre. The Bill directly overrides the Supreme Court's landmark nine-judge MADA judgment (July 2024), which affirmed states' plenary power under Entry 50 of the State List to tax mineral development — raising acute fiscal federalism concerns among mineral-rich states.
In previous-year questions
- Natural gas is currently NOT included under India's Goods and Services Tax (GST) regime. If natural gas were brought under GST at a 5% rate (as often recommended), which of the following would be the PRIMARY benefit?UPSC · Current Affairs
- As of July 2026, total registrations on India's Udyam and Udyam Assist platforms stood at approximately 8.94 crore. Which of the following statements about these platforms is correct?UPSC · Current Affairs
- India's gross Goods and Services Tax (GST) revenue for July 2026 stood at approximately ₹2,11,205 crore, registering a year-on-year growth of 15.4%. Which component recorded the highest growth rate?UPSC · Current Affairs
- India's net GST revenue (after refunds) in July 2026 was approximately ₹1.81 lakh crore, reflecting 15.8% year-on-year growth. What does a GST tax buoyancy greater than 1 indicate?UPSC · Current Affairs
- The GST Network (GSTN) — the IT backbone of India's GST system — is best described as:UPSC · Current Affairs
- Which of the following products are currently EXCLUDED from the ambit of India's GST (Goods and Services Tax)?UPSC · Current Affairs
- In the context of fintech regulation, the "Account Aggregator (AA)" framework established by the Reserve Bank of India enables which of the following?UPSC · Current Affairs