On which date was the Goods and Services Tax (GST) implemented in India?
Options
- A. 1 April 2017
- B. 1 July 2017
- C. 1 January 2018
- D. More than one of the above
- E. None of the above
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Quiz Practice:
Correct Answer (Detailed Explanation is Below)
B. 1 July 2017
Detailed Explanation
- Correct Answer: 1 July 2017.
- Constitutional Amendment: 101st Constitutional Amendment Act, 2016.
- GST Bill: The Constitution (122nd Amendment) Bill was introduced in 2014.
- Concept: One Nation, One Tax.
- GST: Goods and Services Tax is an indirect tax levied on the supply of goods and services.
- Important: GST replaced several central and state indirect taxes.
- First GST Council Meeting: 22–23 September 2016.