On what specific date was GST formally implemented across India, following the passage of the necessary constitutional amendment and associated legislation?
Question 2
What broad category of tax is levied directly on the income or wealth of an individual or entity, generally paid directly by the person or entity on whom the tax is legally imposed?
Question 3
What general term describes an additional levy imposed on certain luxury and sin goods, such as tobacco and automobiles, over and above the standard GST rate, originally intended to compensate states for revenue losses arising from the transition to GST?
Question 4
What general term, known by the abbreviation SAC, describes a standardised numerical classification system used to systematically classify services for GST purposes, broadly comparable in function to the HSN code discussed elsewhere in this pack but applied to services rather than goods?
Question 5
What five-year period is generally cited as being covered by the recommendations of the Fifteenth Finance Commission, the most recent Finance Commission whose recommendations are generally discussed in current reference material?
Question 6
Bringing together the discussion of GST's structure and administration from throughout this pack, what general relationship exists between its various components and mechanisms?
Question 7
What general term, known by the abbreviation ITC, describes a mechanism under GST allowing a registered business to reduce its own GST liability by the amount of GST it has already paid on its business purchases and inputs?