New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    When did the Goods and Services Tax (GST) become

    operational in India?
    A July 1, 2017 Correct Answer Incorrect Answer
    B May 1, 2016 Correct Answer Incorrect Answer
    C April 1, 2016 Correct Answer Incorrect Answer
    D April 1, 2017 Correct Answer Incorrect Answer

    Solution

    GST became operational in India on July 1, 2017. This comprehensive indirect tax system replaced multiple previous taxes including excise duty, service tax, and value-added tax (VAT). GST functions as a destination-based tax levied at every stage of the supply chain, though the ultimate tax burden falls on the end consumer. The implementation represented a significant reform in India's indirect taxation structure.

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