Read the two statements and choose the correct option.
I. GST is levied only by the state governments.
II. Customs duty is a direct tax.

Only ICorrect answerYour answerOnly IICorrect answerYour answerBoth I and IICorrect answerYour answerNeither I nor IICorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

GST is shared: the centre levies CGST and the states SGST, with IGST on inter-state supplies. I is false.
Customs duty is charged on goods and passed on in their prices: indirect. II is false.

Ten questions from Government Budget: Receipts & Expenditure, at your own pace.

Ten questions from Government Budget: Receipts & Expenditure, at your own pace.

Read the two statements and choose the correct option.I. GST is levied only by the state governments.II. Customs duty is a direct tax.