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GST Day 2023 - July 01
July 5 , 2023
512 days
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- 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.
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