Which Constitutional Amendment Act introduced levy of all indirect taxes…
2016
Which Constitutional Amendment Act introduced levy of all indirect taxes through a single tax?
- A.
Gross Supply Tax Act
- B.
Goods and Services Tax Act
- C.
Income and Property Tax Act
- D.
Goods and Services Tax Amendment
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Correct answer: B
The Goods and Services Tax (GST) was introduced by the 101st Constitutional Amendment Act, 2016, which came into effect on 1 July 2017. It subsumed (merged) most of the indirect taxes such as VAT, Excise Duty, Service Tax, and Central Sales Tax, into a single uniform tax system across India. GST is aimed at creating “One Nation, One Tax, One Market” by simplifying the tax structure and improving revenue transparency.
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