Which model of GST has been chosen by India?
AUK
BChina
CCanada
DUSA
Answer:
C. Canada
Read Explanation:
India has adopted the Canadian model of GST which is a dual GST system. In this model, both the Central Government and the State Governments have the power to levy and collect GST on a common base. The components are:
Central GST (CGST) collected by the Central Government,
State GST (SGST) collected by the State Governments for intra-state transactions,
Integrated GST (IGST) collected by the Central Government for inter-state transactions.
This model helps maintain the fiscal autonomy of both the Centre and the States while ensuring a unified tax system across India.