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Question
From the following statements regarding Goods and Services Tax (GST), identify the incorrect statement:
Options
It ensures uniformity of tax rates across all states.
It ensures better tax compliance and tax collection.
All types of direct and indirect taxes have been subsumed by it.
It's imposed on the supply of goods and services.
MCQ
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Solution
All types of direct and indirect taxes have been subsumed by it.
Explanation:
The GST is an indirect tax. As a result, it only covers indirect taxes, not direct taxes. So the offered assertion is false.
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