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

1 July is celebrated every year as National Doctor's Day in India to honour the dedication and selfless service of doctors to society. The day also marks the birth anniversary of Dr Bidhan Chandra Roy, a physician and the second Chief Minister of West Bengal. To honour his contributions to healthcare and the public health system, 1 July has been 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 relations, as the United Kingdom handed over the region to China on 1 July 1997. This event marked the end of 156 years of British rule, which began in 1841.

Hong Kong was designated 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 central government's influence 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 1 July. The exact origin of the celebration is difficult to trace. However, it serves as an opportunity for people to share laughs with friends and family over a joke.