Answer: 1 July
Notes: Recently, India celebrated GST Day on July 1 to mark eight years since the Goods and Services Tax was implemented in 2017. Goods and Services Tax transformed the indirect tax system by making compliance easier, reducing business costs, and enabling free movement of goods across states. It boosted transparency and efficiency, supporting a stronger and more unified economy. In 2024–2025, gross Goods and Services Tax collections reached a record ₹22.08 lakh crore. This shows a 9.4 percent yearly growth, reflecting better tax compliance and higher formalisation of the economy.
