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The GST (Compensation to States) Bill was passed in 2017 to ensure states are compensated for any revenue losses due to the introduction of GST. Key Points: 1. GST was implemented on July 1, 2017. 2. It subsumed indirect taxes like VAT, excise, and service tax. 3. Compensation is provided for five years from 2017. 4. Ensures smooth transition to a unified tax regime. 5. It is a landmark reform in indirect taxation in India. Bee Facts: • 2007 (a): Proposed during UPA government discussions. • 2014 (b): BJP began the legislative process for GST. • 2017 (c): GST Act enacted. • 2002 (d): Not related to GST reforms.
What type of energy does not occur while riding a bicycle?
Where was the headquarters of the Ghadar Movement located?
In which year, the British defeated the Marathas in Rohilkhand?
Which dance form of Uttar Pradesh is among the major dance forms of India?
Teal carbon is associated with which type of ecological environment?
In which year did the Bengal famine occur?
Who proposed the concept of 'Separation of Powers' in governance?
In which of the following year, Govind Ballabh Pant received the Bharat Ratna Award?
Who has been appointed as the brand ambassador for the Fit India Movement (Feb 2024)?
Which of the following elements is a metalloid?
