Answered: GST is called as consumption based tax.…

GST is called as consumption based tax. Discuss and verify this statement with the help of a relevant example. Also, elaborate on the different categories of GST.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter2: Income Tax Concepts

Section: Chapter Questions

Problem 1DQ

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GST is called as consumption based tax. Discuss and verify this statement with the help of a relevant example. Also, elaborate on the different categories of GST.

(Please answer in minimum 400 words)

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