What does GST stand for?
General Sales Tax
Goods and Services Tax
Global Sales Tax
Government Sales Tax
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When was GST implemented in India?
2000
2006
2014
2017
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Which of these taxes was NOT subsumed under GST?
Service Tax
Central Excise Duty
Customs Duty
Value Added Tax
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What is the core motive behind the introduction of GST?
Reduce Tax Evasion
Increase Government Revenue
One Nation, One Tax
Simplify International Trade
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Which of these is NOT a component of GST?
CGST
SGST
IGST
VGST
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What does IGST apply to?
Intra-State Sale of Goods
Inter-State Sale of Goods
Import of Goods
Export of Goods
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What is the turnover limit for businesses to opt for the composition scheme under GST?
Rs. 50 Lakh
Rs. 1 Crore
Rs. 2 Crore
Rs. 5 Crore
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What does ITC stand for in the context of GST?
Income Tax Credit
Input Tax Credit
Indirect Tax Credit
Integrated Tax Credit
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