Economics · Government Budget and Taxation
Why is the GST system described as creating a 'unified market' or uniform indirect tax system across India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Because it is calculated as a fixed lump-sum amount for all businesses
- 2Because it brought uniformity in tax rates and rules across all states and Union Territories✓
- 3Because it completely replaced every existing local, municipal, and state fee
- 4Because it combines direct and indirect taxes into a single levy
Correct answer
Because it brought uniformity in tax rates and rules across all states and Union Territories
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