CUET Preparation Today
| Which of the following is the feature of "Goods and Services Tax Act, 2016"? |
It was introduced to increase the revenue of government To reduce tax evasion in the country To create one nation, one tax and one market All of the above |
| All of the above |
| The new taxation system was expected to generate additional revenue for the government, reduce tax evasion and create ‘one nation, one tax and one market’. Another component of reform in this area was simplification. In order to encourage better compliance on the part of taxpayers, it reduced the complexity and the rates were also substantially lowered. |
