Which one of the following statements is true about GST?

Correct option is C

The correct answer is option (D) ) It amalgamated a large number of central and state taxes and cesses.

GST is a comprehensive tax system that integrates various indirect taxes (like VAT, excise duty, service tax, etc.) levied by the central and state governments. It replaced numerous state and central taxes and cesses, making it easier for businesses to comply with tax regulations.

Information Booster :-

• GST stands for Goods and Services Tax, which is a single tax on the supply of goods and services.
  
• It was implemented on July 1, 2017, replacing the complex tax structure that included VAT (Value Added Tax), Service Tax, Excise Duty, Sales Tax, and several other central and state taxes.
• GST is a destination-based tax, meaning the tax is collected at the point of consumption, rather than at the point of origin.​