AILET 2017 BA LLB Question Paper
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Question : 89 of 150
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Which of the following statements are true regarding the Constitution (One Hundred and First Amendment) Act, 2016 ?
I. GST Act is a comprehensive direct tax on manufacture, sale and consumption of goods and services throughout India.
II. The Act willtransform India into a common market, harmonising myriads of State and Central levies into a national goods and services tax which is expected to boost manufacturing and reduce corruption.
III. It provides for Constitution of a Goods and Services TaxCouncil by inserting Article 297A in the Constitution.
IV. GST will be based on input tax credit method.
I. GST Act is a comprehensive direct tax on manufacture, sale and consumption of goods and services throughout India.
II. The Act willtransform India into a common market, harmonising myriads of State and Central levies into a national goods and services tax which is expected to boost manufacturing and reduce corruption.
III. It provides for Constitution of a Goods and Services TaxCouncil by inserting Article 297A in the Constitution.
IV. GST will be based on input tax credit method.
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