![GST Council clears proposal to remove tax exemptions on a Few Items GST Council clears proposal to remove tax exemptions on a Few Items](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirSH3vmKMipTWyHvMy5jAD3e5Y-m7HeoQ7Sjdc8zYbsD-i2Z-EodYLe90cIC7PlKUJIqfIivhBY2ByCYLX3SsIbrvauhZAvkbO5UaHDg0AdCvPkz3IqhB8Uh_UVycn_RU1SMEk5YKHnTjgoPnRGxNcMjfYcQk22NJpwDBEiKY5kIzer8f_WQETAY5iuw/w320-h180-rw/sithraman.jpg)
- It has approved a host of compliance procedures for GST-registered businesses on high-risk taxpayers to check evasion.
- Pre-packed and labeled food items such as meat, fish, curd, paneer, and honey will now attract GST.
- In addition to that, they have approved changes in tax rates on some goods and services while allowing states to issue an e-way bill for the intra-state movement of gold and precious stones.
- It has also been demanded that either the revenue sharing formula under the GST regime should be changed or the compensation period should be extended by five years.
- GST was introduced on July 1, 2017, and states were assured of compensation for the revenue loss, till June 2022.
- Besides a proposal for extension of compensation to states beyond June 2022 and the imposition of 28% GST on casinos, online gaming, etc is made in this meeting.
Question:
Q.1 Consider the following statements regarding Goods & Service Tax.A. It is a single tax on the supply of goods and services, right from the manufacturer to the end consumer.
B. Kelkar Task Force on indirect tax had suggested a GST in 2003.
Select the correct option given below
a. Only A
b. Only B
c. All of the above
d. None of the above
c. All of the above
d. None of the above