101st Amendment Act & GST
The 101st Constitution Amendment Act of India is a significant legislative change related to indirect taxation.
This amendment paved the way for the implementation of the Goods and Services Tax (GST) across India.
The core principle behind GST, introduced via this amendment, is summarised as:
- 'one nation, one tax': This signifies a unified indirect tax structure replacing multiple previous taxes, aiming for a single market across the country.
Therefore, the 101st Constitution Amendment Act introduced the system of 'one nation, one tax'.
Important Questions from Goods and Services Tax (GST)
In the 25th GST Council Meeting, held before the Budget 2018, rates for how many goods have been reduced?
Out of the following. which are not the features of GST 2017 in India.
(A) GST is applicable on 'supply' of Goods and Services.
(B) GST is based on the principle of origin based taxation rather than principle of destination based consumption.
(C) Import of Goods is treated as Inter-State supplies and would be subject to IGST in addition to applicable Custom Duties.
(D) It is a dual taxation with Centre and State simultaneously levying it on a common base.
(E) GST is applicable to all Goods and Services without any exemptions.
Choose the correct answer from the options given below:
- Since December 2022, the functions of the National Anti-Profiteering Authority established in association with GST reforms have been transferred to which body in India?
- Uninterrupted and seamless chain of Input Tax Credit (ITC) is a mechanism to avoid cascading of taxes in which of the following taxes?
Under which Amendment Act of Indian Constitution GST is introduced?
