Q."GST is a destination-based consumption tax." Explain this statement.

GST became effective in India on 1st July 2017, so the answer is (c).

The Goods and Services Tax (GST) is a comprehensive, destination-based indirect tax that replaced many earlier central and state indirect taxes (excise, service tax, VAT, etc.).

Key fact: …

GST is a destination-based tax on the supply of goods and services whose burden shifts to the final consumer, so it is an indirect tax.

GST (Goods and Services Tax) is a single, comprehensive tax levied on the supply of goods and services across the country. Its defining feature is that although businesses collect and remit it, the actual burden is passed on to the ultimate consumer through the price of the product. Any tax whose burden can be shifted to another person is an indirect tax, unlike a direct tax (such as income tax) that the same person both bears an …

The answer is option (a) Goods and Services Tax.

GST stands for Goods and Services Tax. It is a comprehensive, destination-based indirect tax introduced in India on 1st July 2017 that replaced many earlier indirect taxes such as excise duty, service tax and VAT. It is levied on the supply of goods and services and is charged at every stage of the …

The correct answer is (a) Integrated Goods and Service Tax. IGST is the GST charged on inter-state transactions.

In the Tamil Nadu HSC Commerce syllabus, GST has a three-part structure:

• CGST (Central GST) — the Centre's share on intra-state (within the same state) supplies.
• SGST (State GST) — the state's share on intra-state supplies.
• IGST (Integrated GST) — levied on inter-state supplies (from one state to another) and on imports, collected by the Central Government and then apportioned between the Centre and the destination state. …