[amp_mcq option1=”1993″ option2=”1996″ option3=”1999″ option4=”2000 E. 2002″ correct=”option1″]<\/p>\n
The correct answer is: A. 1993<\/strong><\/p>\n The Goods and Services Tax (GST) is a comprehensive indirect tax levied on goods and services supplied in India. It is a destination-based tax, which means that the tax is levied at the place where the goods or services are consumed. The GST was introduced in India on July 1, 2017.<\/p>\n The GST was first proposed in India in 1993 by the then Finance Minister, Manmohan Singh. The proposal was to replace the existing indirect taxes, such as excise duty, service tax, and value-added tax (VAT), with a single, unified tax. However, the proposal was not implemented at the time due to various reasons.<\/p>\n The GST was again proposed in 2006 by the then Finance Minister, P. Chidambaram. This time, the proposal was to implement the GST in a phased manner. The first phase of the GST was implemented on April 1, 2010, with the introduction of the Central Goods and Services Tax (CGST) and the State Goods and Services Tax (SGST). The second phase of the GST was implemented on July 1, 2017, with the introduction of the Integrated Goods and Services Tax (IGST).<\/p>\n The GST is a major reform in the Indian indirect tax system. It has simplified the tax structure, reduced the number of taxes, and increased the efficiency of the tax collection system. The GST has also helped to boost economic growth in India.<\/p>\n The following are the options for the question:<\/p>\n Option A is the correct answer. The GST was first proposed in India in 1993.<\/p>\n Option B is incorrect. The GST was not proposed in India in 1996.<\/p>\n Option C is incorrect. The GST was not proposed in India in 1999.<\/p>\n Option D is incorrect. The GST was not proposed in India in 2000.<\/p>\n Option E is incorrect. The GST was not proposed in India in 2002.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”1993″ option2=”1996″ option3=”1999″ option4=”2000 E. 2002″ correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[969],"tags":[],"class_list":["post-53251","post","type-post","status-publish","format-standard","hentry","category-gst","no-featured-image-padding"],"yoast_head":"\n\n