Question

In India, the Goods and Service Tax was launched with effect from

• A. 1st July, 2017
• B. 1st July, 2018
• C. 1st July, 2019
• D. 1st July, 2015

Hint:

GST rollout on 1st July 2017 unified multiple indirect taxes into one system.

Answer 1

The Correct Option is A

Step 1: Introduction of GST: The Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale, and consumption of goods and services throughout India, replacing many cascading taxes.
Step 2: Launch Date: GST was officially launched on 1st July 2017, marking a significant reform in the Indian taxation system.
Step 3: Purpose: It aimed to unify the complex tax structure, simplify tax administration, and increase compliance.
Therefore, GST was launched with effect from 1st July, 2017.