The Goods and Services Tax Act, expected to create "One Nation, One Tax and One Market", came into effect in which year?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 2017
The Goods and Services Tax (GST) came into effect on 1 July 2017, launched at a special midnight session of Parliament. It was made possible by the Constitution (101st Amendment) Act, 2016, and replaced a number of central and state indirect taxes, such as excise duty, service tax and VAT, with one tax on the supply of goods and services across the country.