GST is a consumption-based tax where the tax burden is borne by the final consumer. Its design involves dual levy by both the Union and State governments on taxable transactions.
For most goods and services, the Goods and Services Tax is shared by the Central and the State Governments in the ratio of
Asked in WBCS Main Paper 5 2023 · Topic: Fiscal Policy & Revenue (Taxation System in India: Direct, Indirect taxes, and Tax Reforms (including GST))
More Economic Development questions
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