2017
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
June 1, 2017
|
|
|
August 1, 2017
|
|
|
July 1, 2017
|
|
|
May 1, 2017
|
Detailed explanation-1: -Target date for GST roll out is April 2017: Hasmukh Adhia-The Hindu BusinessLine.
Detailed explanation-2: -In the words of Prime Minister Narendra Modi, the Goods and Services Tax (GST) is “a path-breaking legislation for New India”. This revolutionary taxation system was rolled out on the midnight of 1 July, 2017 in a ceremony held in the Central Hall of Parliament.
Detailed explanation-3: -As you are aware, the target date of implementation for GST is 1st July, 2017. With a view to assessing the preparedness in various areas, a Joint Presentation (by officials from Center and State Tax Administration) was held in New Delhi on 4th June, 2017, before Revenue Secretary, Chairperson and Members of the Board.
Detailed explanation-4: -The GST was launched at midnight on 1 July 2017 by the President of India, and the Government of India. The launch was marked by a historic midnight (30 June – 1 July) session of both the houses of parliament convened at the Central Hall of the Parliament.
Detailed explanation-5: -It was envisaged that GST would subsume a number of indirect taxes presently being levied by Central and State Governments into a single tax, thereby reducing the cascading of taxes and providing a common national market for Goods and Services.