{"id":34558,"date":"2024-04-15T09:32:35","date_gmt":"2024-04-15T09:32:35","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=34558"},"modified":"2024-04-15T09:32:35","modified_gmt":"2024-04-15T09:32:35","slug":"as-per-the-101st-constitution-amendment-act-the-power-to-levy-gst-rests-on","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/as-per-the-101st-constitution-amendment-act-the-power-to-levy-gst-rests-on\/","title":{"rendered":"As per the 101st Constitution Amendment Act, the power to levy GST rests on . . . . . . . ."},"content":{"rendered":"

[amp_mcq option1=”State Govt.” option2=”Union Govt.” option3=”State & Union Govt.” option4=”Union Territory, State & Union Govt.” correct=”option3″]<\/p>\n

The correct answer is: C. State & Union Govt.<\/strong><\/p>\n

The 101st Constitution Amendment Act, 2016, which introduced the Goods and Services Tax (GST) in India, provides that the power to levy GST rests with both the Central and State Governments. The GST Council, a body comprising of the Finance Ministers of the Centre and the States, is responsible for deciding the rates, exemptions, and other aspects of the GST.<\/p>\n

The GST is a destination-based tax, which means that the tax is levied on the value added at each stage of the supply chain, and the final tax liability is determined at the point of consumption. The GST is levied on a wide range of goods and services, including manufactured goods, services, and imported goods.<\/p>\n

The GST has been implemented in India in a phased manner, with the first phase being implemented on July 1, 2017. The GST has been a major reform in the Indian tax system, and it has been credited with simplifying the tax structure, improving compliance, and boosting economic growth.<\/p>\n

Here is a brief explanation of each option:<\/p>\n