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Question
Under GST, credit availed of all the taxes paid is termed as __________.
Under GST, credit availed of all the taxes paid is termed as __________.
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Solution
The correct option is C Set off
GST is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as set off.
GST is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as set off.
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