When was the Union Territory Goods and Services Tax Act passed?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 2017.
The Union Territory Goods and Services Tax (UTGST) Act was passed by the Parliament of India in April 2017 and came into effect on 1st July 2017, alongside other GST laws. This Act was introduced to levy and collect Goods and Services Tax on the supply of goods and services in Union Territories without a legislature, such as Andaman and Nicobar Islands, Lakshadweep, Dadra and Nagar Haveli, among others. The UTGST Act complements the Central GST (CGST) Act, ensuring a uniform tax structure across the country, even in Union Territories, thus streamlining the indirect taxation system under the Goods and Services Tax regime.