Q. With reference to the Goods and Services Tax (GST) in India, consider the following statements:
1.GST is a destination-based tax levied on the supply of goods and services at every point of sale.
2.In case of intrastate sales, only the Central GST (CGST) is levied.
3.The final consumer bears the GST cost, but it is remitted to the government by the seller.
Which of the statements given above is/are correct?
Answer: C
Notes:
Explanation:
- GST is a destination-based, multi-stage, and value-added tax, levied at every point of sale.
- For intrastate sales, both Central GST (CGST) and State GST (SGST) are levied.
- Though consumers pay GST, it is the businesses that collect and remit it to the government.
Source: Indian Economy (N.C.E.R.T)
