[amp_mcq option1=”Sales tax (GST)” option2=”Income tax” option3=”Property tax” option4=”Excise duties” correct=”option1″]<\/p>\n
The correct answer is Sales tax (GST).<\/p>\n
Sales tax is a consumption tax levied on the sale of goods and services. It is a major source of revenue for both the central and state governments in India. The Goods and Services Tax (GST) is a comprehensive indirect tax reform that was implemented in India on July 1, 2017. GST subsumed most of the indirect taxes levied by the central and state governments, including central excise duty, service tax, value-added tax (VAT), and octroi.<\/p>\n
Haryana is one of the states in India that has adopted the GST. The state government collects GST on the sale of goods and services within its jurisdiction. The revenue generated from GST is used by the state government to fund its various developmental activities.<\/p>\n
The other options are incorrect. Income tax is a direct tax levied on the income of individuals and businesses. Property tax is a tax levied on the value of real estate. Excise duties are taxes levied on the manufacture, sale, or consumption of certain goods.<\/p>\n
Here is a brief explanation of each option:<\/p>\n
[amp_mcq option1=”Sales tax (GST)” option2=”Income tax” option3=”Property tax” option4=”Excise duties” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[980],"tags":[],"class_list":["post-70366","post","type-post","status-publish","format-standard","hentry","category-haryana-gk-mcq","no-featured-image-padding"],"yoast_head":"\n