Which of the following is/are features of “Goods & Services Tax (GST)”? 1. Unified taxpayer base governed by a uniform set of laws and procedures 2. Common management of business records and filing returns 3. An uninterrupted input tax credit chain through Integrated Goods and Services tax (IGST) Select the correct answer from below given codes: |ForumIAS

Q. Which of the following is/are features of “Goods & Services Tax (GST)”?
1.Unified taxpayer base governed by a uniform set of laws and procedures
2.Common management of business records and filing returns
3.An uninterrupted input tax credit chain through Integrated Goods and Services tax (IGST)
Select the correct answer from below given codes:

[A] Only one

[B] Only two

[C] Only three

[D] None

Answer: C

Notes:

Explanation: Features of GST:

Unified taxpayer base governed by a uniform set of laws and procedures
Common management of business records and filing returns
An uninterrupted input tax credit chain through Integrated Goods and Services tax (IGST)
Completely automated and faceless administration with all processes being online

Source: FORUMIAS

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