According to the Finance Minister Arun Jaitley, taxes worth Rs 92, 283 crore were collected in July 2017 from just 64.42 per cent of the total taxpayer base after GST has launched on 01st July 2017. Which country was the first to introduce GST?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Germany
B	USA
C	Japan
D	France

Explanation:

Detailed explanation-1: -GST Collection for December 2022 State-wise Just like in November 2022, Maharashtra posted the highest GST collection for December 2022 in absolute terms at Rs. 23, 598 crore. States like Karnataka, Gujarat, Tamil Nadu, Haryana and Uttar Pradesh have also shown impressive numbers.

Detailed explanation-2: -Atal Bihari Vajpayee is known as the father of GST. He was often referred to as Bihari. He was a leader of the Bharatiya Janata Party (BJP) and twice served as the Prime Minister of India.

Detailed explanation-3: -On 1 July 2022, we will reach a new milestone in the indirect tax reform journey. GST, which subsumed most of the erstwhile indirect taxes, removed all internal trade barriers, and unified the Indian market, will celebrate its 5th anniversary.

Detailed explanation-4: -A: GST reduces tax-on-tax and indirect taxation. It does away with multiple compliances like VAT, service tax, etc. thereby increasing the outflow. With GST, the outflow has been effectively reduced and hence eliminated the cascading effect of taxation.

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