WhichÂ oneÂ ofÂ theÂ followingÂ statementsÂ is correct in relation to the GST Bill passed by the Rajya Sabha in August 2016?

Question

WhichÂ  oneÂ  ofÂ  theÂ  followingÂ  statementsÂ  is correct in relation to the GST Bill passed by the Rajya Sabha in August 2016?

TuteeHUB · Accepted Answer

GSTÂ  willÂ  beÂ  leviedÂ  onÂ  alcoholic liquor forÂ  humanÂ  consumptionÂ  atÂ  aÂ  uniform rate of 25 percent.

TuteeHUB · Answer

ItÂ  willÂ  replaceÂ  allÂ  centralÂ  taxes,Â  duties, etc, only by a single tax.

TuteeHUB · Answer

It will subsume central as well as State taxes, duties, etc.

TuteeHUB · Answer

PetroleumÂ  Â andÂ  Â petroleumÂ  Â products shallÂ  notÂ  beÂ  subjectÂ  toÂ  theÂ  levyÂ  of GST.

1.	WhichÂ oneÂ ofÂ theÂ followingÂ statementsÂ is correct in relation to the GST Bill passed by the Rajya Sabha in August 2016?
A.	ItÂ willÂ replaceÂ allÂ centralÂ taxes,Â duties, etc, only by a single tax.
B.	It will subsume central as well as State taxes, duties, etc.
C.	GSTÂ willÂ beÂ leviedÂ onÂ alcoholic liquor forÂ humanÂ consumptionÂ atÂ aÂ uniform rate of 25 percent.
D.	PetroleumÂ Â andÂ Â petroleumÂ Â products shallÂ notÂ beÂ subjectÂ toÂ theÂ levyÂ of GST.
Answer» C. GSTÂ willÂ beÂ leviedÂ onÂ alcoholic liquor forÂ humanÂ consumptionÂ atÂ aÂ uniform rate of 25 percent.

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