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Goods and Services Tax

acts as proof...

Question

act(s) as proof for the manufacturer or the retailer for having paid GST.

A

Bills of purchase

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B

Verbal consent

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C

Goods purchased

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D

Services used

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Solution

The correct option is A Bills of purchase
GST has simplified the indirect taxes and helped in reducing the prices of goods and services. However, the manufacturer or the retailer can get these benefits of GST only when they have proper bills of purchase as proofs for transactions.The bills are proof that the manufacturer and the retailer have paid the GST on their respective inputs.

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ECONOMICS

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Goods and Services Tax

Standard IX Economics

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