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IGST

. GST compens...

Question

. GST compensation is given to the states for loss of revenue due to the implementation of Source based taxation.

A

True

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B

False

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Solution

The correct option is A True

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Similar questions

Q. Consider the following with respect to GST compensation

1. It was to be paid by the centre to states for compensating loss of revenue due to GST implementation
2. The compensation was to be paid out of GST cess collection by the centre

Which of the above are correct?

Q. Consider the following statements:
1. Revenue budget deals with receipts from taxation and non-tax sources and the expenditure met out from these sources.
2. Net recoveries of loans and advances to states are public sector enterprises form the revenue receipts of the government.
Which of the statements given above is/are correct?

Q. 43. Consider the following statements with references to GST
1.GST is based on the principle of destination-based consumption taxation as against the present principle of origin-based taxation.
2. GST is applicable on manufacture of goods or services as against the earlier concept of supply of goods or on sale of goods or on provisioning of services.
3. Integrated GST (IGST) would be levied on inter-state supply of goods or services and proceeds will be apportioned between the Union and the States.
Which of the above statement(s) is/are correct?

Q. Implementation of the Goods and Services Tax has increased the revenue of the states but has reduced the autonomy of the states. Examine

Q. The most important source of revenue to the states is _______.

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