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The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:
I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.
II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.
II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.
Q. Which of the following statement(s) is/are correct?
- a)Only I
- b)Only II
- c)Both I and II
- d)Neither I nor II
Correct answer is option 'C'. Can you explain this answer?
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The Goods and Services Tax (GST) Council has recently cleared the law ...
Moving towards the rolling out of GST, the GST Council has recently approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to the next meeting.
The Council, in its last meeting on January 16, had agreed that 90% of tax assesses below Rs 1.5 crore annual turnover will be assessed by states and the remaining 10% by the Centre. For taxpayers with over Rs 1.5 crore turnover, the split was 50:50 between the Centre and the states.
The Council, in its last meeting on January 16, had agreed that 90% of tax assesses below Rs 1.5 crore annual turnover will be assessed by states and the remaining 10% by the Centre. For taxpayers with over Rs 1.5 crore turnover, the split was 50:50 between the Centre and the states.
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The Goods and Services Tax (GST) Council has recently cleared the law ...
Moving towards the rolling out of GST, the GST Council has recently approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to the next meeting.
The Council, in its last meeting on January 16, had agreed that 90% of tax assesses below Rs 1.5 crore annual turnover will be assessed by states and the remaining 10% by the Centre. For taxpayers with over Rs 1.5 crore turnover, the split was 50:50 between the Centre and the states.
The Council, in its last meeting on January 16, had agreed that 90% of tax assesses below Rs 1.5 crore annual turnover will be assessed by states and the remaining 10% by the Centre. For taxpayers with over Rs 1.5 crore turnover, the split was 50:50 between the Centre and the states.
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The Goods and Services Tax (GST) Council has recently cleared the law ...
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The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer?
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The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect 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 The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect 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 The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer?.
The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect 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 The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect 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 The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer?.
Solutions for The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer?, a detailed solution for The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of The Goods and Services Tax (GST) Council has recently cleared the law for compensating states for loss of revenue from GST. Consider the following statements regarding the GST compensation law:I. The GST compensation law, that if a state has a loss, then for the first five years they will be compensated.II. The Council had agreed that 90% of tax assesses below Rs 1.5 crore annual turnovers will be assessed by states and the remaining 10% by the Centre.Q. Which of the following statement(s) is/are correct?a)Only Ib)Only IIc)Both I and IId)Neither I nor IICorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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