- GST is an indirect tax. - It is applied on the supply of goods and services. - It is designed as a consumption tax, with the burden falling on the final consumer. - Exports are zero-rated, and imports are subject to IGST (a form of GST on consumption of imported items).
GST is imposed on
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
- What does GST stand for?
- Which of the following is not shared by the Central and the State Governments?
- For most goods and services, the Goods and Services Tax is shared by the Central and the State Governments in the ratio of
- When was GST imposed?
- Which is not an indirect tax in India?
- Find the odd one out: Direct-Taxes are
- The govt. collected what amount as GST in Dec 2018?
- Which of the following statement is related to the benefit of the "Input Tax Credit Mechanism" of GST ? - Question not attempted