Question

The One hundred and first Amendment of the Indian Constitution relates to which of the following?
1. Demonetisation of Indian currency (Rs.1000 and Rs.500 currency notes)
2. Introduction of GST
3. Land Boundary Agreement between India and Bangladesh
4. Right to Education

Answer 1

Correct Answer - Option 2 : Introduction of GST

The correct answer is Introduction of GST.

• The 101st Constitutional (One Hundred and First Amendment) Act, 2016   introduced a national goods and services tax (GST) in India on 1 July 2017.
• The Goods and Services Tax (GST) is a Value Added Tax (VAT) intended to establish a systematic indirect tax levy on the production, sale, and use of products and services at the national level.
• CGST, IGST, UTGS, and SGST Compensation Act passed at Loksabha on 29 March 2017.
• The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 was introduced on 19 December 2014 by Finance Minister Arun Jaitley in the Lok Sabha and passed on 6 May 2015 by the House.