Download App

Government Budget and Economy — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsGovernment Budget and Economy3 Marks
Question
How will Goods and Services Tax (GST) be a comprehensive indirect tax? Explain.
✓

Answer

GST will be a comprehensive indirect tax on the manufacture, sale and consumption of goods and services throughout India, to replace taxes levied at the central and state level.
For example, a car's price varied among states because of different rates of taxes like value-added tax, octroi and road tax. But, GST has removed all these and made India a single tax market.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "3 Marks Question" from Government Budget and Economy→Government Budget and Economy — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

Explain the central problem of ‘choice of technique’.
→
Explain the circular flow of income.
→
Why should exports be included in GDP?
→
What does a rightward shift of production possibility curve indicate?
→
Giving reason, classify the into intermediate or final goods.
Paper purchased by a publisher.
→
State four sources of supply of foreign exchange.OR
What are the sources for supply of foreign exchange?
→
Giving reason, classify the into intermediate or final goods.
Unsold coal with trader at a year end.
→
Rakesh pays ₹ 1,000 towards premium on his full life policy with the LIC. Is this a part of compensation of employees?
→
Explain "primary deficit' in a government budget. What does it indicate?
→
Distinguish between voluntary unemployment and involuntary unemployment. What is the significance of this distinction?
→