Question

Which one of the following statements is correct in relation to the GST Bill passed by the Rajya Sabha in August 2016?
A) It will replace all central taxes, duties, etc, only by a single tax. B) It will subsume central as well as State taxes, duties, etc. C) GST will be levied on alcoholic liquor for human consumption at a uniform rate of 25 percent. D) Petroleum and petroleum products shall not be subject to the levy of GST.

Answer 1

Option A is correct - It will replace all central taxes, duties, etc, only by a single tax.

What is the motto of GST?

• The motive of GST is "One nation, One tax, One market."
• This bill was passed in Rajya Sabha on August 3, 2016.
• It was signed by the president in September 2016.
• After much debate, it came into effect in July 2017.
• It was presented a chared by "Union Finance Minister."

Thus, option A is correct.

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