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SUGGESTED ANSWERS TO QUESTIONS - icmai.in

2. (a) (i) Goods and Services tax means a tax on supply of goods or services, or both, except taxes on supply of alcoholic liquour for human consumption (Article 366[12A] of Constitution of India). (ii) GST is a value added tax levy on sale of goods or provision of services or both. (iii) GST is a destination based consumption tax.

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