4 amendments to GST

Q.  Which of the following amendments have been made to the GST Bill to be presented in the Rajya Sabha?

1) 1% entry tax inclusion
2) Full compensation to states for 5 years for any revenue loss
3) Independent Dispute Resolution Mechanism
- Published on 03 Aug 16

a. 1, 2
b. 1, 3
c. 2, 3
d. All of the above

ANSWER: 2, 3
 
  • The planned amendments will seek to withdraw the 1 per cent additional tax (entry tax) proposed earlier;
  • Guarantee the States full compensation over a period of five years for any losses from the shift to the new tax;
  • Propose a new mechanism for dispute resolution, in which the States will have greater say;
  • Introduce fresh assurance in the amendment that the GST rate will neither lead to revenue losses for states not hurt the consumers.

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