[amp_mcq option1=”Sales Tax” option2=”Excise Duty” option3=”Goods and Services Tax (GST)” option4=”Property Tax” correct=”option3″]<\/p>\n
The correct answer is: C) Goods and Services Tax (GST)<\/strong><\/p>\n A Goods and Services Tax (GST) is a type of tax imposed on the manufacture and sale of goods and services. It is a consumption tax, which means that it is levied on the final consumption of goods and services. GST is a value-added tax, which means that it is levied on the value added to goods and services at each stage of the production and distribution process.<\/p>\n Sales tax is a type of tax imposed on the sale of goods and services. It is a consumption tax, which means that it is levied on the final consumption of goods and services. Sales tax is not a value-added tax, which means that it is not levied on the value added to goods and services at each stage of the production and distribution process.<\/p>\n Excise duty is a type of tax imposed on the manufacture or sale of specific goods, such as alcohol, tobacco, and gasoline. It is a consumption tax, which means that it is levied on the final consumption of goods and services. Excise duty is not a value-added tax, which means that it is not levied on the value added to goods and services at each stage of the production and distribution process.<\/p>\n Property tax is a type of tax imposed on the ownership of real property, such as land and buildings. It is a tax on wealth, which means that it is levied on the value of assets owned by individuals or businesses. Property tax is not a consumption tax, which means that it is not levied on the final consumption of goods and services.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Sales Tax” option2=”Excise Duty” option3=”Goods and Services Tax (GST)” option4=”Property Tax” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[994],"tags":[],"class_list":["post-63348","post","type-post","status-publish","format-standard","hentry","category-telangana-and-karnataka-gk-mcq","no-featured-image-padding"],"yoast_head":"\n