Quran did impose Jizya, a little thought on the verse where it is mentioned and the verses in the context make it clear as to why it was imposed and why it was essential to be imposed in Muhammad's time, I therefore, give the verse with the verses in the context:
[9:24]Say, if your fathers, and your sons, and your brethren, and your wives, and your kinsfolk, and the wealth you have acquired, and the trade whose dullness you fear, and the dwellings which you love are dearer to you than Allah and His Messenger and striving in His cause, then wait until Allah comes with His judgment; and Allah guides not the disobedient people.
[9:25]Surely, Allah had helped you on many a battlefield, and on the Day of Hunain, when your great numbers made you proud, but they availed you nought; and the earth, with
allits vastness, became straitened for you,
andthen you turned your backs retreating.
[9:26]Then Allah sent down His peace upon His Messenger and upon the believers, and He sent down hosts which you did not see, and He punished those who disbelieved. And this is the reward of the disbelievers.
[9:27]Then will Allah, after that, turn with compassion to whomsoever He pleases; and Allah is Most Forgiving, Merciful.
[9:28]O ye who believe! surely, the idolaters are unclean. So they shall not approach the Sacred Mosque after this year of theirs. And if you fear poverty, Allah will enrich you out of His bounty, if He pleases. Surely, Allah is All-Knowing, Wise.
[9:29]Fight those from among the People of the Book who believe not in Allah, nor in the Last Day, nor hold as unlawful what Allah and His Messenger have declared to be unlawful, nor follow the true religion, until they pay the tax with their own hand and acknowledge their subjection.
Read: Detailed English Commentary
[9:30]And the Jews say, Ezra is the son of Allah, and the Christians say, the Messiah is the son of Allah; that is what they say with their mouths. They imitate the saying of those who disbelieved before them. Allah’s curse be on them! How are they turned away!
[9:31]They have taken their learned men and their monks for lords beside Allah. And
so have they takenthe Messiah, son of Mary. And they were not commanded but to worship the One God. There is no God but He. Too Holy is He for what they associate
with Him!
[9:32]They desire to extinguish the light of Allah with their mouths; but Allah will permit nothing except that He will perfect His light, though the disbelievers may dislike
it.
[9:33]He it is Who sent His Messenger with guidance and the religion of truth, that He may make it prevail over every
otherreligion, even though the idolaters may dislike
it.
http://www.alislam.org/quran/search2/showChapter.php?submitCh=Read+from+verse:&ch=9&verse=24
Regards