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1. On which date is GST Day observed annually in India?
GST Day is observed on July 1 each year to commemorate the implementation of the Goods and Services Tax (GST) system in India, which was enacted through the Constitution (101st Amendment) Act in 2016. This tax reform aimed to streamline India's tax structure, unify the market, enhance transparency, and foster economic growth by replacing multiple indirect taxes with a comprehensive indirect tax regime.