GST and Fiscal Federalism (The 2025 Reforms)
Syllabus Link Prelims: Constitutional Articles (246A, 279A, 293), GST Council structure, recent slab rates, cessation of Compensation Cess.Mains (GS II & III): Centre-State Financial Relations, Fiscal Federalism, Borrowing Powers of States, Tax Reform Impact. Introduction & Basics The Goods and Services Tax (GST), introduced via the 101st Constitutional Amendment Act,…