Which of the following taxes was introduced in India to achieve the goal of 'One
Nation, One Tax, One Market'?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Goods and Services Tax.
- GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.
- Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.