GST Stands for

A. Goods and Supply Tax

B. Government Sales Tax

C. Goods and Services Tax

D. General Sales Tax

Answer: Option C

Solution(By Examveda Team)

The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. In effect, GST is indirect tax provides revenue for the government. In India it is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.