CA Foundation P4 · Chapter 10 · Question 14 of 15
The Goods and Services Tax (GST), a destination-based indirect tax, was introduced in India with effect from:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) 1 July 2017
Explanation
GST was introduced on 1 July 2017 following the Constitution (One Hundred and First Amendment) Act, 2016, subsuming several central and state indirect taxes. 1 April 2005 marks the introduction of state-level VAT in many states.
More Indian Economy MCQs
- Q1The economic reforms introduced in India in 1991 are popularly summarised as:
- Q2The immediate trigger for the economic reforms of 1991 was:
- Q3Within the 1991 reform package, which of the following is a 'stabilisation' measure rather than a 'structural reform' measure?
- Q4NITI Aayog replaced which of the following bodies?
- Q5Which of the following best describes the role of NITI Aayog?