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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.
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In the government of India's budget for the year 2013- 14 , the Finance Minister proposed to raise the Goods and Services Tax (GST) on cigarettes. He also proposed to increase income tax on individual earning more than Rupee one crore per annum. Identify and explain the types of taxes proposed by the Finance Minister . Was the objective only to earn revenue for the government ? What possible welfare objectives could the Government be considering ?

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

Knowledge Check

  • Which country first introduced the Goods and Services Tax?

    A
    Canada
    B
    France
    C
    Germany
    D
    USA

  • Which amendment to the constitution introduced the Goods and Services Tax (GST)?

    A
    103rd Constitution Amendment Act, 2018
    B
    73rd Constitution Amendment Act of 2003
    C
    101st Constitution Amendment Act, 2016
    D
    92nd Constitution Amendment Act of 2003

  • In November 2018, ......... electronics company CASIO launched the world‘s first Goods and Services Tax (GST) calculator in India.

    A
    Japanese
    B
    UK
    C
    US
    D
    Chinese

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    Flow of goods and services is

    Which of the following is NOT true in regard to 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?

    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?

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