Home
Class 14
GENERAL KNOWLEDGE
Which country was the first to implement...

Which country was the first to implement Goods and Services Tax (GST)?

A

France

B

USA

C

Germany

D

Canada

Text Solution

Verified by Experts

The correct Answer is:
A
The Goods and Service Tax is popularly known as GST was first introduced in France in 1954. It came into effect in India from 1 July 2017(also known as GST day) by the 101st amendment of the constitution . GST replaced the existing tax system of India into a single tax.
Promotional Banner

Topper's Solved these Questions

  • ECONOMICS

    PINNACLE|Exercise MCQ (INTERNATIONAL ORGANISATIONS)|5 Videos

  • ECONOMICS

    PINNACLE|Exercise MCQ (GOVERNMENT SCHEMES)|4 Videos

  • ECONOMICS

    PINNACLE|Exercise MCQ (COSTS, PRODUCTION,CONSUMPTIONS AND MARKET)|20 Videos

  • CURRENT AFFAIRS

    PINNACLE|Exercise SCHEMES & PROJECTS|40 Videos

  • GEOGRAPHY

    PINNACLE|Exercise WORLD GEOGRAPHY AND MAP|3 Videos

Similar Questions

Explore conceptually related problems

Which of the following statements regarding Goods and Services Tax is INCORRECT ?

Name any two taxes which were subsumed in Goods and Services Tax (GST).

On 7th January 2020, who among the following was the Chairman of the second National GST Conference and Central and State Commissioners that was held to streamline the Goods and Services Tax?

PINNACLE-ECONOMICS-MCQ (NATIONAL INCOME, IFLATION, BUDGET, TAXATION AND GDP)
  1. Which country was the first to implement Goods and Services Tax (GST)?

    Text Solution

    |

  2. If there is a lack of money supply in comparison to the supply of good...

    Text Solution

    |

  3. A sustained rise in the general price level in an economy is called .

    Text Solution

    |

  4. A occurs when a government’s total expenditures exceed the revenue th...

    Text Solution

    |

  5. A situation where the expenditure of the government exceeds its revenu...

    Text Solution

    |

  6. A substantial increase in capital expenditure or revenue deficit leads...

    Text Solution

    |

  7. When the deficit is high, what happens to prices?

    Text Solution

    |

  8. What is the economic impact of increase in productivity of firms?

    Text Solution

    |

  9. What is the full form of GSTIN in relation to GST?

    Text Solution

    |

  10. In which year was the Central Board of Revenue Act in India promulgate...

    Text Solution

    |

  11. Name the Nobel Prize winning American economist whose report to the US...

    Text Solution

    |

  12. Which one of the following brings out an annual publication titled 'Na...

    Text Solution

    |

  13. is the final value of all the finished goods and services produced wit...

    Text Solution

    |

  14. Which of the following are the major state taxes in India?

    Text Solution

    |

  15. How many members are there in the GST Council?

    Text Solution

    |

  16. What is the meaning of Fiscal Deficit ?

    Text Solution

    |

  17. Fiscal Policy is formulated by in India.

    Text Solution

    |

  18. GST council is headed by :

    Text Solution

    |

  19. GST is NOT applicable on which of the following goods or services?

    Text Solution

    |

  20. What is the National Gross Domestic Product(GDP)?

    Text Solution

    |