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Which of the following is a feature of GST?

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Question: Which of the following is a feature of GST?

Options:

  1. Dual taxation system
  2. Single tax on goods and services
  3. No input tax credit
  4. Multiple tax rates

Correct Answer: Single tax on goods and services

Solution: 

A key feature of GST is that it is a single tax on goods and services, replacing multiple indirect taxes.

Which of the following is a feature of GST?

Practice Questions

Q1
Which of the following is a feature of GST?
  1. Dual taxation system
  2. Single tax on goods and services
  3. No input tax credit
  4. Multiple tax rates

Questions & Step-by-Step Solutions

Which of the following is a feature of GST?
  • Step 1: Understand what GST stands for - Goods and Services Tax.
  • Step 2: Learn that GST is a type of tax that is applied to the sale of goods and services.
  • Step 3: Recognize that before GST, there were many different indirect taxes on goods and services.
  • Step 4: Realize that GST simplifies this by combining all those taxes into one single tax.
  • Step 5: Conclude that a key feature of GST is that it replaces multiple indirect taxes with one single tax.
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