What is the main objective of Goods and Services Tax (GST) in India?

To increase the number of taxes levied by the government.

To replace multiple cascading taxes and create a unified market.

To impose additional taxes on luxury items.

To reduce the tax burden on basic goods.

What is the purpose of the dual GST model in India?

To impose higher taxes on luxury goods.

To allow states to have their own tax systems.

To tax goods at both the production and consumption stages.

What is the primary advantage of GST for businesses in India?

Increased tax rates on goods and services.

Separate tax rates for different states.

What is the primary reason for the broadening of the tax base under GST?

To reduce the tax burden on businesses.

To increase the complexity of the tax system.

To cover a larger percentage of the population.

To create distortions in the tax structure.

What is the purpose of the Compensation Bill in the context of GST?

To provide compensation to states for any revenue loss due to GST implementation.

To impose additional taxes on luxury goods.

To create exemptions for certain businesses.

Overview of GST Free MCQ Practice Test with Solutions

	Taxation for CA Intermediate 42 videos\|98 docs\|12 tests

	Taxation for CA Intermediate 42 videos\|98 docs\|12 tests

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