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By which constitutional amendment the Goods and Services Tax (GST) was introduced?
  • a)
    101st
  • b)
    102nd
  • c)
    103rd
  • d)
    104th
  • e)
    None of the above / More than one of the above
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
By which constitutional amendment the Goods and Services Tax (GST) was...
The Goods and Services Tax (GST) was introduced by the 101st Constitutional Amendment Act, 2016  . July 1 is celebrated as 'GST Day'. 
IMPORTANT FACTS
  • A new Article 279A was added to the Constitution to provide for the constitution of the GST Council. 
  • Under this, a notification for the formation of the GST Council was issued on 12 September 2016.
  • The Council is headed by the Union Finance Minister and consists of the Union Minister of State (in charge of Finance Revenue) and the Finance or Tax Ministers of the States as members.
OPTION EXPLANATION
  • The National Commission for Backward Classes (NCBC) was given constitutional status by the 102nd Constitutional Amendment Act, 2018. 
It is empowered to inquire into complaints and welfare measures in respect of socially and educationally backward classes. 
The commission consists of five members which include the chairman, vice-chairman and three other members.
  • By the 104th Constitutional Amendment 2020, the reservation for Scheduled Castes and Scheduled Tribes in the Lok Sabha and State Legislatures has been again extended by 10 years and the seats reserved for the Anglo-Indian community in the Lok Sabha and State Legislatures have been removed. ,
  • By the 103rd Constitutional Amendment 2019, a provision of maximum 10% reservation was made for the economically weaker sections. 
Article 15 and Article 16 of the Indian Constitution were amended through the 103rd Constitutional Amendment and through this amendment, Article 15 (6) and Article 16 (6) were included in the Indian Constitution, so that the economically weaker sections of the unreserved class to be given to weaker sections. Benefit of reservation for backward class people.
Economic aspect
  • Goods and Services Tax  ( GST ) is an indirect tax used on the supply of goods and services in India. It is a comprehensive, multilevel, destination-based tax: comprehensive because it includes almost all indirect taxes except some state taxes.
  • In a multi-stage form, GST is levied at every step in the production process, but is to be refunded to all parties at different stages of production other than the final consumer and as a destination-based tax, it is collected after consumption. From point to point and not from point of origin like in previous taxes.
  • Goods and services are divided into five different tax slabs for tax collection: 0%, 5%, 12%, 18% and 28%.
  • There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. Apart from this a cess of 22% or 28% on top of GST other rates are applicable on certain items like aerated drinks, luxury cars and tobacco products.
Comment; Finance Minister Nirmala Sitharaman said that 5 percent tax is being imposed on wheat flour, cereals, pulses, curd and lassi and other items after approval from all the states.
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Community Answer
By which constitutional amendment the Goods and Services Tax (GST) was...
The Goods and Services Tax (GST) was introduced by the 101st Constitutional Amendment Act, 2016  . July 1 is celebrated as 'GST Day'. 
IMPORTANT FACTS
  • A new Article 279A was added to the Constitution to provide for the constitution of the GST Council. 
  • Under this, a notification for the formation of the GST Council was issued on 12 September 2016.
  • The Council is headed by the Union Finance Minister and consists of the Union Minister of State (in charge of Finance Revenue) and the Finance or Tax Ministers of the States as members.
OPTION EXPLANATION
  • The National Commission for Backward Classes (NCBC) was given constitutional status by the 102nd Constitutional Amendment Act, 2018. 
It is empowered to inquire into complaints and welfare measures in respect of socially and educationally backward classes. 
The commission consists of five members which include the chairman, vice-chairman and three other members.
  • By the 104th Constitutional Amendment 2020, the reservation for Scheduled Castes and Scheduled Tribes in the Lok Sabha and State Legislatures has been again extended by 10 years and the seats reserved for the Anglo-Indian community in the Lok Sabha and State Legislatures have been removed. ,
  • By the 103rd Constitutional Amendment 2019, a provision of maximum 10% reservation was made for the economically weaker sections. 
Article 15 and Article 16 of the Indian Constitution were amended through the 103rd Constitutional Amendment and through this amendment, Article 15 (6) and Article 16 (6) were included in the Indian Constitution, so that the economically weaker sections of the unreserved class to be given to weaker sections. Benefit of reservation for backward class people.
Economic aspect
  • Goods and Services Tax  ( GST ) is an indirect tax used on the supply of goods and services in India. It is a comprehensive, multilevel, destination-based tax: comprehensive because it includes almost all indirect taxes except some state taxes.
  • In a multi-stage form, GST is levied at every step in the production process, but is to be refunded to all parties at different stages of production other than the final consumer and as a destination-based tax, it is collected after consumption. From point to point and not from point of origin like in previous taxes.
  • Goods and services are divided into five different tax slabs for tax collection: 0%, 5%, 12%, 18% and 28%.
  • There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. Apart from this a cess of 22% or 28% on top of GST other rates are applicable on certain items like aerated drinks, luxury cars and tobacco products.
Comment; Finance Minister Nirmala Sitharaman said that 5 percent tax is being imposed on wheat flour, cereals, pulses, curd and lassi and other items after approval from all the states.
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By which constitutional amendment the Goods and Services Tax (GST) was introduced?a)101stb)102ndc)103rdd)104the)None of the above / More than one of the aboveCorrect answer is option 'A'. Can you explain this answer?
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