Q. Which Constitutional Amendment Act introduced GST in India?
Solution:
- The Constitution (One Hundred and First Amendment) Act, 2016, introduced a national Goods and Services Tax in India from 1 July 2017.
- GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services.
- It is a multi-stage, destination-oriented tax imposed on every value addition, replacing multiple indirect taxes, including VAT, excise duty, service taxes, etc.
- Currently, the types of GST in India are CGST, SGST, and IGST.
- This simple division helps distinguish between inter-state and intra-state supplies and mitigates indirect taxes.
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