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Introduction of GST is said to have increased tax buoyancy in India. Which of the following statements best explains/explain the term ‘tax buoyancy’?

Science & Technology Tax Ai

Options

It means that for every rupee of tax paid, a proportionate growth in GDP is seen.

It means that any increase in growth results in proportionate increase in tax revenue.

It means that increase in the number of people in higher tax bracket will result in more number of people in lower tax bracket.

Both (A) and (B)

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