Financial Relations

Article 268 to 293 deals with the provisions of financial relations between Centre and States.

GST Council

  • The GST Council broke its tradition of taking decisions by consensus at its 38th meeting with a first time vote on a proposal to tax all lotteries at the uniform rate of 28%. With regard to lotteries, there is a dual rate regime at present, with state-run lotteries taxed at 12%, while state-authorised lotteries (run by private players) face a 28% tax rate.
  • GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed ....

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