The Goods and Services Tax, which includes both goods and services, was introduced by the Government of India with effect from _________.

Correct option is A

Sol: the correct answer is (a) 1 July 2017

The Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. It was implemented on 1 July 2017, marking a significant reform in the country's tax system.

Key Points:

1. Single Taxation System: GST replaces multiple indirect taxes such as VAT, service tax, and excise duty, creating a unified tax structure.

2. Destination-Based Tax: GST is levied at the point of consumption, not at the point of origin. This means the tax revenue goes to the state where the goods or services are consumed.

3. Dual GST Structure: India follows a dual GST model, where both the central and state governments levy GST:

   • CGST (Central Goods and Services Tax): Levied by the Central Government.

   • SGST (State Goods and Services Tax): Levied by the State Governments.

   • IGST (Integrated Goods and Services Tax): Levied on inter-state supplies and collected by the Central Government.