TNPSC Thervupettagam

GST Day 2023 - July 01

July 5 , 2023 504 days 923 0
  • Goods and Services Tax (GST) Day aims to honour the successful implementation of the GST regime in the country.
  • The Parliament passed the Constitution (101st Amendment) Act in August 2016.
  • It is giving the central government the power to levy and collect GST.
  • On July 1, 2017, GST was implemented across India.
  • It is creating a unified market for seamless trade between states.
  • GST has replaced multiple indirect taxes, such as excise duty, service tax, and value-added tax (VAT), levied by both the central and state governments.
  • This has made the tax system simpler and more transparent.

Leave a Reply

Your Comment is awaiting moderation.

Your email address will not be published. Required fields are marked *

Categories