APSC CCE 2022 · Question 126 of 176

[Reading Comprehension] Study the passage below: The introduction of the Goods and Services Tax (GST) is a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, GST will mitigate ill effects of cascading or double taxation in a major way and pave the way for a common national market. On the basis of the above passage, the following assumptions have been made: (i) Introduction of GST is a paradigm shift from the earlier tax regime. (ii) GST subsumed all indirect taxes in India. Which of the above assumptions is/are valid?

Reading Comprehension

1. AAssumption (i) onlyCorrect
2. BAssumption (ii) only
3. CBoth assumptions (i) and (ii)
4. DNeither assumption (i) nor assumption (ii)