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What is the primary purpose of GST?
Practice Questions
Q1
What is the primary purpose of GST?
To increase tax revenue
To simplify the tax structure
To reduce tax evasion
All of the above
Questions & Step-by-Step Solutions
What is the primary purpose of GST?
Steps
Concepts
Step 1: Understand that GST stands for Goods and Services Tax.
Step 2: Know that GST is a type of tax that is applied to the sale of goods and services.
Step 3: Recognize that the primary purpose of GST is to simplify the tax system by combining multiple taxes into one.
Step 4: Learn that GST aims to increase tax revenue for the government by making it easier to collect taxes.
Step 5: Understand that GST helps reduce tax evasion by creating a transparent tax system where transactions are recorded.
No concepts available.
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