Which of the following is/are benefits of “Goods and Services Tax”? 1. Single indirect tax regulatory framework for businesses 2. Reduction of cascading effect of taxes 3. Digitization of compliances Select the correct answer from below given codes: |ForumIAS

Q. Which of the following is/are benefits of “Goods and Services Tax”?
1.Single indirect tax regulatory framework for businesses
2.Reduction of cascading effect of taxes
3.Digitization of compliances
Select the correct answer from below given codes:

[A] Only one

[B] Only two

[C] Only three

[D] None

Answer: C

Notes:

Explanation: Highlights of the GST regime:

Single indirect tax regulatory framework for businesses
GST eliminated the cascading effect of taxes and reduced manufacturing costs.
Reduction of cascading effect of taxes
Digitization of compliances
Considerable increase in average revenue per month.

Source: Ramesh Singh