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  2. Goods and Services Tax (India) - Wikipedia

    en.wikipedia.org/wiki/Goods_and_Services_Tax_(India)

    Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India. 1 July is celebrated as GST Day. [4]

  3. One Hundred and First Amendment to the Constitution of India

    en.wikipedia.org/wiki/One_Hundred_and_First...

    Based on inputs from GoI and States, The EC released its First Discussion Paper on Goods and Services Tax in India on 10 November 2009 with the objective of generating a debate and obtaining inputs from all stakeholders. A dual GST module for the country has been proposed by the EC. This dual GST model has been accepted by centre.

  4. Economic liberalisation in India - Wikipedia

    en.wikipedia.org/wiki/Economic_liberalisation_in...

    In a study conducted in January 2023, researchers from the National Institute of Public Finance and Policy examined state revenues. Their analysis revealed that in 17 of the 18 states they investigated, the income generated from state-level taxes diminished after implementation of GST compared to the pre-GST era.

  5. Value-added taxation in India - Wikipedia

    en.wikipedia.org/wiki/Value-added_taxation_in_India

    The system of Value Added Tax (VAT) has been implemented, in the State of Maharashtra, w.e.f. 1 April 2005. Every dealer, who becomes liable to pay tax under the provisions of MVAT, shall apply electronically for registration, within 30 days from the date of such liability. VAT is implemented by Department of Sales Tax.

  6. Central Board of Indirect Taxes and Customs - Wikipedia

    en.wikipedia.org/wiki/Central_Board_of_Indirect...

    The Customs & Central Excise department was established in the year 1855 by the then British Governor General of India, to administer customs laws in India and collection of import duties/land revenue. It is one of the oldest government departments in India.

  7. Indian National Congress - Wikipedia

    en.wikipedia.org/wiki/Indian_National_Congress

    Then Finance Minister of India Pranab Mukherjee implemented many tax reforms, notably scrapping the Fringe Benefits Tax and the Commodities Transaction Tax. [274] He implemented the Goods and Services Tax (GST) during his tenure. [275] His reforms were well received by major corporate executives and economists.

  8. Goods and Services Tax (India) Revenue Statistics - Wikipedia

    en.wikipedia.org/wiki/Goods_and_Services_Tax...

    From 1 May 2018 onwards Ministry of Finance of Government of India started releasing monthly GST revenue collection data via official press release through Press Information Bureau. And to further improve transparency Government of India started issuing state-wise monthly collection data from 1 January 2020.

  9. Economic development in India - Wikipedia

    en.wikipedia.org/wiki/Economic_development_in_India

    During 2014–15, India's services sector grew by 10.1%, manufacturing sector by 7.1% & agriculture by 0.2%. Indian Economy grew at 7.6 & 7.1 in FY 2015–16 and FY 2016–17 respectively as major reforms had taken place like demonetization and implementation of GST in FY 2016–17.