GK
INDIAN POLITICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Constitution (121st Amendment) Bill 2014
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The Constitution (122nd Amendment) Bill 2014
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The Constitution (122nd Amendment) Bill 2015
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The Constitution (122nd Amendment) Bill 2016
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Detailed explanation-1: -The 122nd Constitution Amendment Bill, 2014 has been passed by the Parliament and after ratification by fifty percent of the States, the same has been enacted as 101st Constitution Amendment, Act, 2016. No Goods and Service Tax (GST) Bill has so far been passed.
Detailed explanation-2: -Features. Inclusion of new article 246A to present concurrent capacity to Union and State lawmaking bodies to administer on GST. central taxes like Central Excise Duty, Additional Excise Duties, Service Tax, Additional Customs Duty (CVD), and Special Additional Duty of Customs (SAD), and so on will be subsumed in GST.
Detailed explanation-3: -The GST (122nd Constitutional Amendment) Bill, 2014 was passed in May 2015. It was enacted as Constitution (101st Amendment) Act, 2016, with effect from, 16th September, 2016. It heralds the first significant step towards the indirect tax reform in India in the last thirty years.