What is the type of taxation (DIRECT/INDIRECT) under GST (Goods and Service…
2018
What is the type of taxation (DIRECT/INDIRECT) under GST (Goods and Service tax)? What are the common rates of GST, if GST is applicable?
- A.
Direct Tax, (5%, 12%, 18%, 25%)
- B.
Direct Tax, (5%, 12%, 18%, 28%)
- C.
indirect Tax, (5%, 12%, 18%, 25%)
- D.
Indirect Tax, (5%, 12%, 18%, 28%)
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Correct answer: D
GST is an indirect tax levied on the supply of goods and services. Common GST rates in India are 5%, 12%, 18%, and 28% depending on the category of goods or services.