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SSC CPO 2019 PYQ — Question 69

SSC CPO Tier I - 11th December 2019 - Shift 2 • General Awareness • Q69

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Which among the following regarding GST is correct?

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Correct answer: A

Explanation

The correct answer is Option 1 i.e. GST network was formed under the Companies Act.

  • Goods and Services Tax (GST) is an indirect tax used in India on the supply of goods and services.
  • The GST was launched on 1 July 2017.
  • The GST Council has been provided in Article 279A (1) of the Constitution by the 101st Constitution Amendment.
  • The GST Council is headed by the Union Finance Minister.
  • It is considered a federal body.
  • GST Council is a Constitutional body.
  • IGST, CGST, and SGST are categories of GST that are charged by Central and State Governments on the basis of supply and consumption.