Economics
GST
GST (Goods and Services Tax) is a major indirect tax reform introduced in India in 2017 as part of the economic reforms since 1991. In Class 12 Economics, students learn how it replaced several central and state indirect taxes with a destination-based, multi-stage tax, while input tax credit reduces cascading. The topic also examines GST’s aims, the role of the GST Council, effects on businesses, consumers and government revenue, and challenges such as compliance and coordination in India’s federal system.
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Practice questions are not available for this topic yet. We plan to add questions with clear explanations soon. You can keep practising other topics in the meantime.
- Class / subject
- 12 · Economics
- Chapter
- Development Experience (1947–90) and Economic Reforms Since 1991
- Topic
- GST
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