COMPITITITONS FOR STUDENTS ON GST -2.0
COMPITITITONS FOR STUDENTS ON GST -2.0
The Government of India introduced the new tax system, GST 2.0, with the objective of achieving VIKASITH BHARAT. This new tax system promotes the Make in India campaign and aims to create awareness among the masses about Swadeshi – the use of products made in India. In this connection, the Government of Andhra Pradesh, Department of School Education, has decided to conduct competitions on GST 2.0 for students studying in classes VI to X.
Name of the event: Competitions for students on GST -2.0
Date of event: 07-10-2025 , 3:00pm to 5:00 pm
Event activities: Elocution, Essay writing, Quiz competitions.
To whom: Students studying class VI to X
Notes on GST 2.0:
Tax is a mandatory financial charge or levy imposed by a government on individuals, businesses and services. Taxes are used to support the government's activities, infrastructure development, social welfare programs, and other public goods and services.
In India, taxes have been around for ages, but the modern tax system was introduced by the British in the 19th century.
The first major tax reform in independent India was the Income-tax Act of 1961, which came into effect on April 1, 1962. This act replaced the earlier Indian Income Tax Act of 1922.
Later, the Goods and Services Tax (GST) was introduced on July 1, 2017, which unified various indirect taxes like VAT, service tax, and excise duty. GST aimed to simplify taxation, reduce corruption, and boost economic growth.
The pre-GST tax system:
The pre-GST tax system in India was a complex, multi-layered structure that included various taxes levied by the central and state governments. Here's a breakdown of the key taxes and their characteristics:
1 Central Taxes :Central Excise Duty (CENVAT), Service Tax, Customs Duty
2. State Taxes: Value Added Tax (VAT), Central Sales Tax (CST),Entry Tax, Luxury Tax and Purchase Tax
3. Other Taxes: Octroi, Local Body Taxes
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