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Consider the following statements:
Statement-I:
The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.
Statement-II:
The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.
Which one of the following is correct in respect of the above statements?
The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.
Statement-II:
The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Consider the following statements:Statement-I:The Finance Commission i...
Statement 1 : Correct: The Finance Commission, established under Article 280 of the Indian Constitution, is a quasi-judicial body constituted by the President every five years. It provides recommendations on:
- Distribution of net tax proceeds between the Centre and States.
- Principles governing grants-in-aid to States.
- Measures to enhance the Consolidated Fund of a State to supplement the resources of Panchayats and Municipalitie
Statement 2 : The GST Council's mandate does not include "integrating various taxes" or determining the place of supply. These aspects are governed by the GST Act and related rules, not by the Council directly. The GST Council is primarily responsible for:
- Recommending taxes, cesses, and surcharges to be subsumed under GST.
- Recommending GST rates, exemptions, and threshold limits.
- Resolving disputes related to GST implementation among states and the Centre.
Therefore,Correct Answer - Option C
Most Upvoted Answer
Consider the following statements:Statement-I:The Finance Commission i...
Analysis of Statement-I
- The Finance Commission is indeed a quasi-judicial body.
- It is constituted by the President of India every five years.
- Its primary role is to recommend the distribution of net proceeds of taxes between the Centre and the states.
- It also advises on grants-in-aid to states and other related financial matters.
- However, the phrase "enhancing the Consolidated Fund of a state" is misleading; the Finance Commission does not directly enhance the Consolidated Fund but rather addresses the distribution of resources among states.
Analysis of Statement-II
- The Goods and Services Tax (GST) Council was established under the 101st Amendment Act of 2016.
- Its role includes making recommendations on the integration of various taxes into GST.
- It determines which goods and services will fall under GST, sets threshold turnover limits, and provides guiding principles for determining the place of supply.
- This statement is accurate and reflects the functions of the GST Council correctly.
Conclusion
- Statement-I is partially correct, but the misleading aspect concerning the role of the Finance Commission regarding the Consolidated Fund makes it incorrect in its entirety.
- Statement-II is correct in its description of the GST Council's functions.
Thus, the correct option is C: Statement-I is correct, but Statement-II is incorrect.
- The Finance Commission is indeed a quasi-judicial body.
- It is constituted by the President of India every five years.
- Its primary role is to recommend the distribution of net proceeds of taxes between the Centre and the states.
- It also advises on grants-in-aid to states and other related financial matters.
- However, the phrase "enhancing the Consolidated Fund of a state" is misleading; the Finance Commission does not directly enhance the Consolidated Fund but rather addresses the distribution of resources among states.
Analysis of Statement-II
- The Goods and Services Tax (GST) Council was established under the 101st Amendment Act of 2016.
- Its role includes making recommendations on the integration of various taxes into GST.
- It determines which goods and services will fall under GST, sets threshold turnover limits, and provides guiding principles for determining the place of supply.
- This statement is accurate and reflects the functions of the GST Council correctly.
Conclusion
- Statement-I is partially correct, but the misleading aspect concerning the role of the Finance Commission regarding the Consolidated Fund makes it incorrect in its entirety.
- Statement-II is correct in its description of the GST Council's functions.
Thus, the correct option is C: Statement-I is correct, but Statement-II is incorrect.
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Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect 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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Here you can find the meaning of Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:The Finance Commission is a quasi-judicial entity constituted every fifth year by the President, primarily responsible for providing recommendations on the distribution of net proceeds of taxes between the Centre and states, grants-in-aid to states, and enhancing the Consolidated Fund of a state.Statement-II:The Goods and Services Tax (GST) Council, established through the 101st Amendment Act of 2016, is mandated to make recommendations on integrating various taxes, determining goods and services for GST, setting threshold turnover limits, and guiding principles for determining the place of supply.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
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