Which was the first State in India to pass the GST bill?

Correct option is D

The correct answer is (d) Assam

Assam was the first state in India to pass the GST (Goods and Services Tax) Bill in its legislative assembly on August 12, 2016.
This move demonstrated Assam's commitment to supporting the nationwide implementation of GST, which came into effect on July 1, 2017.

Introduction:

• Implemented on July 1, 2017.
• A comprehensive indirect tax reform replacing multiple taxes like VAT, excise duty, and service tax.

Structure:

1. CGST: Central Goods and Services Tax (collected by the central government).
2. SGST: State Goods and Services Tax (collected by state governments).
3. IGST: Integrated Goods and Services Tax (collected on inter-state transactions).
4. UTGST: Union Territory Goods and Services Tax (collected by union territory government).

Key Features:

• Destination-based Tax: Tax is collected at the place of consumption.
• Eliminates Cascading Effect: Input tax credit ensures taxes are paid only on value addition.
• Unified Market: Simplifies and standardizes taxation across India.

Tax Slabs:
0%, 5%, 12%, 18%, and 28%