CLAT Exam  >  CLAT Questions  >  What is the primary purpose of the newly appr... Start Learning for Free
What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?
  • a)
    To increase the tax rate on essential goods
  • b)
    To reduce the number of tax exemptions available
  • c)
    To allow for the tracking of goods throughout the supply chain
  • d)
    To eliminate GST on all imported goods
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the primary purpose of the newly approved "Track and Trace Mec...
The "Track and Trace Mechanism" is designed to enhance accountability by placing unique identification marks on products and their packaging. This system allows for the tracking of goods as they move through the supply chain, which helps mitigate tax evasion and ensures compliance with tax regulations. An interesting fact is that such mechanisms are increasingly being employed globally to improve transparency and efficiency in supply chains, particularly in industries prone to fraud.
Explore Courses for CLAT exam
Question Description
What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? for CLAT 2025 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CLAT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer?.
Solutions for What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.
Here you can find the meaning of What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice What is the primary purpose of the newly approved "Track and Trace Mechanism" in the GST framework?a) To increase the tax rate on essential goodsb) To reduce the number of tax exemptions availablec) To allow for the tracking of goods throughout the supply chaind) To eliminate GST on all imported goodsCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CLAT tests.
Explore Courses for CLAT exam
Signup to solve all Doubts
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev