On This Day: Key Events On July 1, From GST Implementation In 2017 To National Doctor's Day Celebration Since 1991
Date
6/30/2024 10:23:50 PM
(MENAFN- Live Mint) On this day: Many political, social, and geographical events happened on this day in history and continue to impact our lives even now. Prime Minister Narendra Modi's government implemented the Goods and Services Tax (GST) on 1 July 2017. To honour the selfless service of doctors, India began observing July 1 as National Doctors Day, nearly three decades ago in 1991. Take a look at the key events held on this day in history.
Implementation of GST in 2017
The idea of nationwide taxation was first proposed by the Kelkar Task Force. The Goods and Services Tax provided an alternative to a complex and fragmented tax structure with a unified system to simplify compliance. GST also helped in removing the cascading effect of older tax structure. After years of deliberation, the Union Government implemented GST laws on 1 July, 2017. GST replaced a complex web of Central and State taxes including 5%, 12%, 18%, and 28% slabs.
Some essential commodities are exempted from GST, Gold and job work for diamond attract low rate of taxation. Compensation cess is being levied on demerit goods and ceratin luxury items .
National Doctor's Day
To honour the dedication and selfless service of doctors for society, 1 July is celebrated every year as National Doctor's Day in India. The day also marks the birth anniversary of Dr Bidhan Chandra Roy, who was a physician and the second Chief Minister of West Bengal. To honour his contributions to healthcare and the public health system, 1 July is observed as National Doctor's Day since 1991.
Hong Kong's return to China in 1997
The day also holds immense importance in the history of Hong Kong and China's relation, as the region was handed over by the United Kingdom to China on 1 July, 1997. This event marked the end of 156 years of British rule, which had begun in 1841.
Hong Kong was designated as a Special Administrative Region (SAR) of China for 50 years, allowing it to maintain its own economic and governing systems, distinct from those of mainland China. However, the influence of the central government in Beijing increased following the implementation of the Hong Kong National Security Law in 2020.
International Joke Day
International Joke Day is celebrated in many countries across the world on this day, 1 July. It is difficult to trace the exact origin of the celebration of the day. However, it serves an opportunity for people to share laughs with friends and family on a joke.
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