Question 1

GST (Goods and Services Tax) was implemented in India on:

Accepted Answer

July 1, 2017. Goods and Services Tax (GST) was implemented in India on July 1, 2017. It replaced 17 major indirect taxes including Central Excise Duty, Service Tax, VAT, CST, Entry Tax, and Octroi. The rollout was launched with a special midnight Parliament session — a symbolic beginning at midnight akin to India's independence celebration.

Question 2

Which Constitutional Amendment enabled the implementation of GST in India?

Accepted Answer

101st Constitutional Amendment. The 101st Constitutional Amendment Act, 2016 enabled the implementation of GST in India. It amended Articles 246A, 269A, and 279A of the Indian Constitution. Article 246A gave both Parliament and State Legislatures the concurrent power to make laws with respect to GST.

Question 3

Which committee recommended the GST structure for India?

Accepted Answer

Subramanian Committee. The Subramanian Committee (officially the 'Committee on the Revenue Neutral Rate and Structure of Rates for the Goods and Services Tax') under Arvind Subramanian, the then Chief Economic Adviser, recommended the GST rate structure for India. It suggested a revenue-neutral rate (RNR) of 15-15.5% and a standard rate of 17-18%.

Question 4

In GST, what does CGST stand for?

Accepted Answer

Central Goods and Services Tax. CGST stands for Central Goods and Services Tax, which is levied by the Central Government on intra-state (within a single state) supply of goods and services. In an intra-state transaction, both CGST (central share) and SGST (state share) are charged simultaneously. The CGST Act, 2017 governs its administration.

Question 5

What is IGST in the GST framework?

Accepted Answer

Integrated Goods and Services Tax. IGST (Integrated Goods and Services Tax) is levied on inter-state (between two states) supply of goods and services and on imports. IGST = CGST + SGST. It is collected by the Central Government and subsequently distributed between the Centre and the destination state. The IGST model ensures seamless input tax credit across states.

GST & Tax Structure — Set 1