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When GST in India implemented?

When GST in India implemented? Correct Answer On July 1, 2017

The correct answer is On July 1, 2017.

Key Points

  • Goods and Service Tax (GST) was implemented in India on 1st July 2017 by the then Finance Minister Arun Jaitely. 
  • Goods and Service Tax(GST):
    • ​GST is an indirect tax used in India on the supply of goods and services.
    • It is a destination-based tax.
    • Goods and services are divided into five different tax slabs for collection of tax- 0%, 5%, 12%, 18%, and 28%.
    • GST Council is the governing body of GST having 33 numbers.
    • The council is headed by the union finance minister assisted by the finance minister of all the states of India.

Additional Information

  • The 101st Constitutional (One Hundred and First Amendment) Act, 2016  introduced a national Goods and Services Tax (GST) in India on 1 July 2017.
  • The Goods and Services Tax (GST) is a Value Added Tax (VAT) intended to establish a systematic indirect tax levy on the production, sale, and use of products and services at the national level.
  • CGST, IGST, UTGS, and SGST Compensation Act passed at Lok Sabha on 29 March 2017.
  • The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 was introduced on 19 December 2014 by Finance Minister Arun Jaitley in the Lok Sabha and passed on 6 May 2015 by the House.

Related Questions

Goods and Services Tax (GST) was introduced as a part of indirect tax reforms in India. Which of the following are the salient features of the GST? 1. GST is applicable on the manufacture of goods or on sale of goods or on the provision of services. 2. GST is applicable to the supply of goods or services. 3. GST is based on the principle of destination-based consumption taxation. 4. GST is levied at rates decided by GST Council. Select the correct answer using the code given below:
An article is available with GST and without GST and GST is 10% of marked price. When article is purchased with GST, 20% discount is given on total amount after GST while only 10% discount on marked price is given when purchased without GST. If difference between selling price in both the scheme is Rs. 30, the what is the marked price of article?
Which of the following statements are about GST? (a) GST is to be collected at the point of sale. (b) GST abolishes all direct taxes levied in India (c) Implementations of GST was started on 1st July 2017. Choose the correct answer:
Which of the following are true? (i) A programming language option does not permit global variables of any king and has no nesting of procedures/functions, but permits recursion can be implemented with static storage allocation (ii) Multi-level access link (or display) arrangement is needed to arrange activation records-only if the programming language being implemented has nesting of procedures/function (iii) Recursion in programming languages cannot be implemented with dynamic storage allocation (iv) Nesting of procedures/functions and recursion require a dynamic heap allocation scheme and cannot be implemented with a stack-based allocation scheme for activation records (v) Languages which permit a function to return a function as its result cannot be implemented with a stack-based storage allocation scheme for activation records.
Which of the following statement(s) is/are NOT correct 1. The concept of Goods and Services Tax (GST) is originated in India. 2. GST abolished all the direct tax levied in India. 3. Shaktikanta Das is the head of the GST council.
In the following question, two statements are given each followed by two conclusions I and II. You have to consider the statements to be true even ifthey seem to be at variance from commonly known facts. You have to decide which of the given conclusions, if any, follows from the given statements. Statement: (I) In the GST Model in India, it would be dual tax (GST) with the center and states simultaneously levying tax on a common base tax.
(II) The central and state GST would be levied on every transaction of supply of goods and services simultaneously. Conclusions:
(I) This new tax regime would benefit common man of country.
(II) There would be more clarity on state and central component.
An article costs Rs. 18500 without GST. Initially, the GST rate on the article was 28%, but was later reduced to 12%. By how much percentage was the price of the article with GST reduced after the reduction in rates?
Consider the following statements about the use of behavioral parameters by GSTN to enhance voluntary compliance with reference to GST (Goods and Service Tax) 1. The GST rules provide for the electronic generation of e-way bill for transportation of goods above a certain threshold of value of the goods being transported. 2. Return filing status of a GSTIN is visible in the public domain on the GST portal. Which of the statements given above is/are correct?
In the following question, sentences of a paragraph have been jumbled and labeled as A, B, C, and D. You are required to rearrange the jumbled sentences in the right order to form a meaningful and coherent paragraph and mark your response accordingly by selecting the correct option. A. The sellers usually add the tax expense into their costs, and the price the customers pay is inclusive of GST. B. The concept of GST is that it is an “Indirect Tax”, ie, this tax is not directly paid by customers to the government, but is rather levied on the manufacturer or seller goods and the providers of services. C. GST, or Goods and Services Tax, is a tax that customers have to bear when they buy any goods or services, such as food, clothes, electronics, items of daily needs, transportation, travel, etc. D. Thus, in most cases, you end up paying a tax even if you are not an income taxpayer.
GSTIN is GST identification number or GST number. A GSTIN is a PAN-based unique identification number allotted to every registered person under GST. What are the total number of digits in GSTIN?