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Goods and Ser...

Question

Goods and Service Tax (GST) is a consolidation of many ________ already levels in India.

A

Direct taxes

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B

Indirect taxes

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C

Special additional duties

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D

Countervailing duties (CVD)

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Solution

The correct option is A Indirect taxes
GST is an indirect tax which has replaced many indirect taxes in India.
On 29th March 2017 Parliament has passed Goods & Services Tax Act in India. It has came in to effect from 1st July 2018. Goods and Services Tax is levied on supply of goods and services. It has replaced many indirect taxes like VAT, CST, Service Tax, Entertainment Tax, Entry Tax, Custom duty are abolished.

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