Question
The introduction and design of Goods and Services Tax in India are primarily instruments of which broad macroeconomic policy?
The correct answer is
Fiscal policy
GST is a tax, so its design and administration belong primarily to fiscal policy. Monetary policy concerns money, interest rates and credit conditions. GST does not make fiscal policy unimportant.
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Important Questions from Goods and Services Tax (GST)
- Which tax was introduced in July 2017 to replace multiple indirect taxes in India as part of fiscal reforms?
- In which of the following years was the Central Goods and Services Tax Act enacted?
- What is the weightage of the vote of the Central government in the GST council?
- Who among the following acts as the ex-officio Secretary to the GST Council?
What has been kept under the purview of Goods and Services Tax (GST)?
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