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What is GST?

To simplify t...

Question

To simplify the indirect tax system, the Government of India merged indirect taxes into

A

income tax

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B

sales tax

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C

Goods and Service Tax

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D

direct taxes

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Solution

The correct option is C Goods and Service Tax
To simplify the indirect tax system, the Government of India introduced the Goods and Services Tax (GST) on 1 July 2017. It subsumed various indirect taxes and merged those into GST, thus laying the foundation of 'One Nation, One Market, One Tax'.

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Q. On 1 July 2017, several of the indirect taxes were merged together to form the Goods and Services Tax. Identify the problems with indirect taxes.

Q. The government merged all types of taxes into the tax.

Q. Indirect taxes are paid directly by people to the government.

Q. The government is in a dillema on whether to adopt the goods and services tax (GST) system or follow the old indirect tax system. As a advisor to the government, how will you convince the government to adopt the goods and services tax system?

Q. Analyse the following statements and choose the correct option.

Assertion (A): Several indirect taxes were merged into one tax, the Goods and Services Tax.
Reasoning (R): There are various types of indirect taxes which makes it difficult to manage them and they increase the price of goods and services excessively.

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