CUET Preparation Today
Which of the following best explains the constitutional aspect of Goods and Services Tax implementation in India? |
104th Constitutional Ammendment and Introduction of Article 26A. 101st Constitutional Amendment and Introduction of Article 246A. 101st Constitutional Amendment and Introduction of Article 26A. 104th Constitutional Ammendment and Introduction of Article 24A. |
101st Constitutional Amendment and Introduction of Article 246A. |
The correct answer is Option (2) → 101st Constitutional Amendment and Introduction of Article 246A. " GST is the biggest tax reform in the country since independence and was rolled out on the mid-night of 30 June/1 July, 2017 during a special midnight session of the Parliament. The 101th Constitution Amendment Act received assent of the President of India on 8 September, 2016. The amendment introduced Article 246A in the Constitution cross empowering Parliament and Legislatures of States to make laws with reference to Goods and Service Tax imposed by the Union and the States. Thereafter CGST Act, UTGST Act and SGST Acts were enacted for GST. GST has simplified the multiplicity of taxes on goods and services. ". |
