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Asked: December 30, 20222022-12-30T04:48:26+00:00 2022-12-30T04:48:26+00:00

Date: 29/09/2022 Shift: 2:00 PM – 3:00 PM Q. No: 45

QnA Bot Enlightened

	Comprehension:
	Read the given passage and answer the questions that follow. Goods and Services Tax (GST) is an indirect tax levied in India on the sale of goods and services. The Goods and Services Tax was launched at midnight on 1 July 2017. This tax replaced multiple cascading taxes levied by the central and state governments. Goods and Services Tax are divided into five tax slabs for collection of tax – 0%, 5%, 12%, 18% and 28%. The Single GST replaced former taxes and levies which included central excise duty, services tax, additional customs duty, surcharges and state-level value added tax octroi.

	SubQuestion No : 15
Q.15	Which of the following statements is NOT true?

Ans	1. The GST replaced a single cascading tax.
	2. The GST was launched on 1 July 2017.
	3. Goods and Services are divided into five tax slabs.
	4. GST is an indirect tax.

Correct Ans Provided: 1

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