MCQ Detailed View

The Goods and Services Tax (GST) was first introduced in France in 1954. The concept was developed as a value-added tax (VAT) model to simplify taxation and reduce multiple indirect taxes. France became the pioneer of GST, setting an example for many countries that later adopted similar tax systems.

Today, GST or VAT is implemented in over 160 countries, including Canada, Australia, Singapore, India, and Malaysia. The purpose of GST is to create a uniform tax structure, avoid double taxation, and streamline revenue collection for governments.

Key Facts about GST:

• First Introduced: France, 1954


• Concept: Value-Added Tax (VAT) model


• Purpose: To simplify indirect taxation and reduce cascading taxes


• Global Adoption: More than 160 countries


• Notable Adopters: Canada, Australia, India, Singapore, Malaysia

GST is considered one of the most important tax reforms in modern economic history, and its origin in France marked a turning point in global taxation practices.