GST data shows growth of.....in the number of indirect taxpayers.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

GST data shows growth of____in the number of indirect taxpayers.

A	30%
B	40%
C	50%
D	60%

Explanation:

Detailed explanation-1: -Therefore, adjusting the base for double and triple counting, the GST has increased the number of unique indirect taxpayers by more than 50 percent –a substantial 3.4 million.

Detailed explanation-2: -Answer: GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

Detailed explanation-3: -Share of direct and indirect tax in total central tax in India FY 2018-2023. As per Indian Union Budget estimates for financial year 2023, direct taxes accounted for 51.5 percent and indirect taxes accounted for 48.5 percent of total central tax collection in India.

Detailed explanation-4: -The indirect tax authority’s goal is to significantly scale up the goods and services tax (GST) base, which stands at around 14 million tax payers. “If you compare this tax base with that of other taxes, for example, income tax has a taxpayer base of about 80 million.

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