S1: GST is levied on the supply of goods and services. S2: GST subsumed all indirect taxes in India. Which statement(s) is/are correct? MCQ with Answer and Explanation
S1: GST is levied on the supply of goods and services. S2: GST subsumed all indirect taxes in India. Which statement(s) is/are correct?
A. Both S1 and S2
B. Neither S1 nor S2
C. S2 only
D. S1 only
Answer: Option D
Solution (By JKSSB Mock Tests)
GST is a comprehensive indirect tax levied on the supply of goods and services. However, it did not subsume *all* indirect taxes; for example, basic customs duty, stamp duty, and electricity duties are still outside GST. S1 is correct, S2 is incorrect.
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