Question

What is the tax levied on goods called?

• A. Income Tax
• B. Property Tax
• C. Goods and Services Tax
• D. Wealth Tax

Hint:

GST is a significant reform in Indian taxation, impacting both goods and services, and is levied at each stage of the production and distribution chain.

Answer 1

The Correct Option is C

The Goods and Services Tax (GST) is a tax levied on goods and services at every stage of production or distribution. It is a comprehensive indirect tax that replaced several indirect taxes in India.