Question

GST was introduced by which amendment act of the constitution?
1. 106
2. 101
3. 102
4. 107

Answer 1

Correct Answer - Option 2 : 101

The correct answer is 101.

• GST was passed as the 101^st Amendment Act of 2016.
• GST(Goods and Services Tax): is a comprehensive indirect tax on the manufacture, sale and consumption of goods and services throughout India.
• The four basic rate structure of GST are 5%. 10%, 18% and 28%.

• The motto of GST - "One Nation, One Tax, One Market".
• Three types of taxes in Indian GST are State GST(SGST)/ Union Territory GST(UTGST), Central GST(CGST) and Integrated GST(IGST).
• GST bill was passed by Rajya Sabha on 3^rd August 2016.
• GST bill was passed by Lok Sabha on 8^th August 2016.
• GST bill was signed by President on 8^th September 2016.
• GST came into effect from 1^st July 2017.
• Articles deals with the formation of the GST council is 279A.
• The Chairman of the GST council is Union Finance Minister.
• The first Chairman of the GST council is Arun Jaitley. 
• The concept of GST was first presented in Parliament by P. Chidambaram in 2005. 
• India has chosen the Canadian model of dual GST. 
• The first country to introduce GST: France in 1954.

•  102^nd Constitution Amendment Act 2018 granted constitutional status to the National Commission for Backward Classes (NCBC).
• 106th Constitution Amendment Act 2006 proposes to insert a new part IX B in the Constitution (adding Articles 243ZH through 243ZT), which provides for incorporation, regulation and winding up of co-operative societies.