BASIC IMPORTANT NOTES TO GST FOR GPSC & UPSC
HISTORY OF GST France was the country where GST was implemented in 1954. In India, Under Direction of kelker Committee, lead by Vijay Kelker Constitution right was given by 368. To approve the amendment in constitution 75% majority is must. Assam was the state who has approved Implementation of GST in India. The Honorable Prime Minister of India MR. Narendra Modi had approved the bill on 08/09/2016. GST was implemented by amending constitution by 101 st Amendment Act, 2016. WHY GST WAS NEEDED AS A LAW? WHAT WAS THE SYSTEM OF GST IMPLEMENTATION IN INDIA? Before implementing GST there was total 17 laws related to taxation and others. Out of 17, eight laws was related to Central Govt. while remaining nine was related to State Govt. The above laws Includes Excise Act, VAT Act, CST Act, Service tax etc. The all old laws had some shortcomings, Some where No ITC was allowed, elsewhere double taxation etc. The credit of excise was not allowed ...