History Of GST ( India and World ) - Detailed Notes - Important for WBCS, UPSC, SSC, IBPS and Other Exams

History of Indian GST
GST or Goods and Services Tax is a newly adopted indian taxation System. It replaces most of the Indirect Taxes of India. India Adopted Dual Model of GST from Canada. To know more about What is GST? Visit Here. Today we are going to discuss, “history of World and Indian GST.”
 For our students help, we have divided this post in two.
World History – GST
The first country which have implemented GST was France. France implemented GST in the year 1954. GST in form or other was adopted by many countries so far. Some of these countries are Canada, Brazil, Argentina, UK, Singapore, Australia, Hongkong, Malaysia, New Zealand etc.
Canada have dual model of GST which is later adopted by India.
Indian GST –( 2000 – 2017 )
Indian GST Timeline :
1.   2000 : It was P.M Atal Bihari Vajpayee ji who first proposed to have a GST in indian Tax system. In the year 2000, he set ups a committee to draft Law on GST.
2.   2006 : In the budget 2006, Minister of Finance , Mr. P. Chidambaram proposed implementation of GST by 1st April, 2010.
3.   2011 : A constitution Amendment bill to enable GST Law was introduced.
4.   2013: Standing Committee tables its report on GST.
5.   2014 : GST bill reinroduced by Finance Minister Mr. Arun Jaitley.
6.   2015 : GST bill passed in Lok Sabha but Failed to pass in Rajya Sabha.
7.   2016 : GSTN or Goods and Services Tax Network introduced.
8.   2016 : Amended model GST law passed in both houses, president gives assent.
9.   2017 : Four supplementary GST bill passed in Lok Sabha and approved by the cabinets.
10.                2017 : Rajya Sabha passed the four supplementary GST bills.
Some Important Notes on History of Indian GST
1.   GST is the One hundred and Twenty Second Amendment Bill of the indian Constitution.
2.   GST is Officially know as The Constitution (One hundred and first Amendment) Act, 2016.
3.   One hundred and Twenty Second Amendment Bill was passed by the Rajya Sabha on 3rd Aug, 2016. It was passed in Lok Sabha on 8th Aug, 2016.
4.   The Goods and Services tax was launched at the mid-night ( 30 June-1st july 2017) by the Prime Minister Mr. Narendra Modi Ji.
5.   GST was in effect from 1st July, 2017.
We will update this Note Soon...
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