2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Wealth tax
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GST ( Goods and service Tax)
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Property tax
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Value added tax (VAT)
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Detailed explanation-1: -With uniform tax on supplies of goods and services, India turned into one market. GST ensured compliance simplification with: Uniform processes across the country. Simple registration process-Single return-Minimal physical interface. Faster refunds.
Detailed explanation-2: -On 01 July 2017, the Indian government implemented the Goods and Services Tax (GST) to simplify the country’s tax structure. The fundamental goal of putting it was to have one nation, one tax, and one market. GST has largely replaced several federal and state-levied taxes, including excise, VAT, and service tax.
Detailed explanation-3: -The correct option is D One Nation, One Tax, One Market.
Detailed explanation-4: -India Code: Central Goods and Services Tax Act, 2017. Go! Long Title: An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the Central Government and for matters connected therewith or incidental thereto.