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GST Day 2026 - July 01
July 2 , 2026
9 hrs 0 min
50
0
- Goods and Services Tax (GST) completed 9 years on July 1, 2026, marking its launch on July 1, 2017.
- GST introduced the "One Nation, One Tax" system by replacing 17 indirect taxes and 13 cesses with a unified tax framework.
- GST is a destination-based indirect tax on the supply of goods and services and is administered through Central GST (CGST), State GST (SGST), and Integrated GST (IGST).
- The GST Council guides GST policy and promotes cooperative federalism between the Centre and States.
- As of May 2026, the number of GST taxpayers increased to about 1.65 crore, compared to 66.5 lakh in 2017, reflecting greater formalisation of the economy.
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