Practicing Success
Which of the following depicts "Features" of goods and services tax? |
To simplify the taxation system To generate additional revenue Reduce tax evasion All of the above |
All of the above |
In 2016, the Indian Parliament passed a law, Goods and Services Tax Act 2016, to simplify and introduce a unified indirect tax system in India. This law came into effect from July 2017. This is expected to generate additional revenue for the government, reduce tax evasion and create ‘one nation, one tax and one market’. |