2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1 July
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2 July
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3 July
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4 July
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Detailed explanation-1: -Since 2017, the 1st of July has been celebrated as GST day every year. GST replaced the long-held indirect tax system.
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: -The genesis of the introduction of GST in the country was laid down in the historic Budget Speech of 28th February 2006, wherein the then Finance Minister laid down 1st April, 2010 as the date for the introduction of GST in the country.
Detailed explanation-4: -It was introduced with the idea of “One Nation- One Market- One Tax”. Year 2022 marks the fifth anniversary of GST.
Detailed explanation-5: -Who introduced GST in India? In 2014, the then Finance Minister, Mr Arun Jaitley, introduced the Constitution Amendment Bill in the parliament. In May 2015, the Constitution (122nd Amendment) Bill was passed in the Lok Sabha.