Q. Which one of the following statements is correct in relation to the GST Bill passed by the Rajya Sabha in August 2016?
A) It will subsume central as well as State taxes, duties, etc.
B) It will replace all central taxes, duties, etc, only by a single tax.
C) Petroleum and petroleum products shall not be subject to the levy of GST.
D) GST will be levied on alcoholic liquor for human consumption at a uniform rate of 25 percent.
✔ Correct Answer: It will subsume central as well as State taxes, duties, etc.
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