Goods and services tax (GST) became operational from .

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Question

This question was previously asked in

SSC CGL 2022 Tier-I Official Paper (Held On : 06 Dec 2022 Shift 2)

Answer 1

The correct answer is 1 July 2017.Key Points

GST was passed as the 101st Amendment Act of 2016.
GST (Goods and Services Tax): is a comprehensive indirect tax on the manufacture, sale and consumption of goods and services throughout India.
The four basic rate structures of GST are 5%. 12%, 18% and 28%.

Additional Information

The motto of GST - is "One Nation, One Tax, One Market".
Three types of taxes in Indian GST are State GST(SGST)/ Union Territory GST(UTGST), Central GST(CGST) and Integrated GST(IGST).
GST bill was passed by Rajya Sabha on 3rd August 2016.
GST bill was passed by Lok Sabha on 8th August 2016.
GST bill was signed by President on 8th September 2016.
GST came into effect from 1st July 2017.
Articles deals with the formation of the GST council is 279A.
The Chairman of the GST council is Union Finance Minister.
The first Chairman of the GST council is Arun Jaitley.
The concept of GST was first presented in Parliament by P. Chidambaram in 2005.
India has chosen the Canadian model of dual GST.
The first country to introduce GST: France in 1954.