Why in the news?

• The Union Finance Minister formally launched the Goods and Services Tax Appellate Tribunal (GSTAT), marking a significant milestone in India’s GST journey.

Goods and Services Tax Appellate Tribunal (GSTAT)

• What is it?: GSTAT is a statutory body established under the Central Goods and Services Tax Act, 2017 to hear appeals against orders passed by the Appellate or Revisional Authorities.
• Purpose: To hear appeals against orders passed by the GST Appellate Authorities and to provide taxpayers with an independent forum for justice.
• Benches: It will function through a Principal Bench in New Delhi and 31 State Benches across 45 locations in India, ensuring accessibility and nationwide reach.
• Structure: Each Bench of the GSTAT will comprise two Judicial Members, one Technical Member (Centre), and one Technical Member (State).
• Significance: Structure reflects the spirit of cooperative federalism and is designed to deliver impartial and consistent decisions.