GST was implemented in India from? [IAS Questions & Answers at BYJU’S]

GST was implemented in India on July 1, 2017.

It is a destination-based tax system in India imposed on the supply of goods and services.

GST was introduced in the Parliament by the 101st Constitutional Amendment Act in 2016, by the then Finance Minister, Arun Jaitley. The idea of GST was introduced in India for the first time by the Atal Bihari Vajpayee Government in 2010.

There are five different types of tax slabs for GST collection. They are:

0%, 5%, 12%, 18%, and 28%

Petroleum products, alcoholic drinks, and electricity are exempted from GST. Special rates are charged for rough precious stones, semi-precious stones, and gold.
A GST Council, formed by the 122nd amendment acts as a governing body to supervise the process involved in the collection of GST and monitor the taxation process. The Chairperson of the GST Council is the Finance Minister.

There are four types of GST:

(a)The Central Goods and Service Tax(CGST)

(b)The State Goods and Service Tax(SGST)

(c)The Integrated Goods and Services Tax(IGST)

(d)The Union Territory Goods and Services Tax(UTGST)

Related Links:

Corporate Tax – UPSC Notes for Indian Economy	Taxation in India – Direct Tax and Indirect Tax	UPSC Polity MCQ Questions
Revenue Receipts – Tax and Non – Tax Revenues	Dividend Distribution Tax	Tax Policy Council and Tax Policy Research Unit

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GST was implemented in India from?

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