Answer» Correct Answer - Option 3 : 101st Constitution Amendment Act, 2016
The correct answer is 101st Constitution Amendment Act, 2016. - 101st Constitution Amendment Act, 2016 introduced the Goods and Services Tax.
- GST Bill was first introduced in 2014 as The Constitution (122nd Amendment) Bill.
- Goods and Services Tax is a widespread indirect tax on the manufacture, sale, and consumption of goods and services throughout India.
- GST replaced respective taxes levied by the central and state governments.
- It is an indirect tax for the whole country on the lines of “One Nation One Tax” to make India a combined market.
- GST Council will decide upon any matter related to GST whose chairman is the finance minister of India.
- GST has provisions of:
- Central GST to cover Excise duty, Service tax.
- State GST to cover VAT, luxury tax and Integrated GST to cover inter-state trade.
- IGST is not a tax but a system to coordinate state and union taxes.
- Article 246A states that States have the power to tax goods and services.
- The Ninety-second Amendment of the Constitution of India is known as The Constitution (Ninety-second Amendment) Act, 2003.
- It amended the Eighth Schedule to the Constitution.
- It includes Bodo, Dogri, Maithili and Santali languages and increases the total number of languages listed in the schedule to 22.
- The Constitutional (103rd Amendment) Act got the assent of the President of India on 13th January 2018.
- It provides reservation of jobs in central government jobs as well as government educational institutions.
- It applies to citizens belonging to the economically weaker sections from the upper castes.
- This reservation is "in addition to the existing reservations and subject to a maximum of ten percent of the total seats in each category".
- The Constitutional (73rd Amendment) Act of 1992 came into force in India to provide constitutional status to the Panchayati Raj institutions.
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