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With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.

Solutions for With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?, a detailed solution for With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice With reference to the Goods and Service tax, consider the following statements:1. The government has introduced mandatory physical verification of business premises for the purposes of obtaining GST registration.2. A new rule has been introduced by the Central Board of Indirect Taxes and Customs that mandates businesses with monthly turnover of over 50 lakh to pay at least 1% of their GST liability in cash instead of using input tax credits to discharge their entire liability.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.