Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

"One nation-one tax", is linked with which of the following options?

Options:

Value added tax regime

Goods and services tax

Corporate Tax

Both 2 and 3

Correct Answer:

Goods and services tax

Explanation:

Goods and service tax is a destination based taxation sytem implemented in 2017 and was applicable throughout India. It helped in replacing the multiple cascading taxes levied by the central and state governments. Thus, was referred as "One nation-one tax".