How will Goods and Services Tax (GST) be a comprehensive indirect tax? Explain.
Download our app for free and get started
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.
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.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionDistinguish between direct taxes and indirect taxes. Give an example of each.
- 2View SolutionShould we rely exclusively on direct taxes for mobilizing tax revenue because indirect taxes are inequitable? Comment.
- 3View SolutionSuggest different ways by which capital budget deficit can be reduced without borrowings.
- 4View SolutionExplain the role of government budget in bringing economic stability.
- 5View SolutionExplain the role of Government budget in allocation of resources.
- 6View SolutionHow can Government budget be helpful in altering distribution of income in an economy? Explain.
- 7View SolutionWhat is debt trap? Suggest measures to control such situation.
- 8View SolutionIs loan granted by the Central Government to a State Government, a revenue expenditure or capital expenditure? Why?
- 9View SolutionGive meaning of capital expenditure and revenue expenditure in a government budget and an example of each.
- 10View Solution‘The fiscal deficit gives the borrowing requirement of the government’. Elucidate.