CUET Preparation Today
In 2016, the Indian Parliament passed a law, Goods and Services Tax Act 2016, to simplify and introduce a unified indirect tax system in India. This law came into effect from which year? |
March 2017 July 2017 Feb 2016 Nov 2016 |
July 2017 |
The correct answer is Option 2: July 2017 In 2016, the Indian Parliament passed a law, Goods and Services Tax Act 2016, to simplify and introduce a unified indirect tax system in India. This law came into effect from July 2017. This is expected to generate additional revenue for the government, reduce tax evasion and create ‘one nation, one tax and one market’. |
