With reference to minimum alternate tax, consider the following statements:
Which of the above statements are correct

1 only

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

2 only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both 1 and 2

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Neither 1 nor 2

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A 1 only
As per Article 279A (1) of the amended Constitution, the GST Council has to be constituted by the President within 60 days of the commencement of Article 279A. The notification for bringing into force Article 279A with effect from 12th September, 2016 was issued on 10th September, 2016.

Suggest Corrections

Similar questions

Q. 45. Consider the following statement about Tobin tax.
1. It replaced short-term capital gains tax on financial assets.
2. Tobin tax aims to discourage volatile short term capital flows.
3. Unlike Tobin Tax, Capital Gain Tax is levied only on financial assets.
4. India could not adopt Tobin Tax due to the lack of required tax administration.
Which of the above statement(s) is/are correct?

Q8. Consider the following statements about Windfall Tax:

1. A tax levied by governments against certain industries when economic conditions allow those industries to experience above-average profits.

2. Windfall taxes are primarily levied on the companies in the targeted industry that have benefited the most from the economic windfall, most often commodity-based businesses.

Q. Q. Consider the following statements:Which of the following statements are correct?

1 and 3 only
1 only
1 and 2 only
1, 2 and 3

Q. Consider the following statements:
1. Value-added tax was Introduced for the first time in France.
2. Value-added tax is levied on the added value that results from each exchange.
Which of the statements given above is/are correct?

Q. With reference to contribution from taxes, consider the following statements:
1- Contribution from direct taxes is more than that from indirect taxes.
2- Corporation tax is the largest contributor.

Join BYJU'S Learning Program

With reference to minimum alternate tax, consider the following statements: Which of the above statements are correct

With reference to minimum alternate tax, consider the following statements:
Which of the above statements are correct