Question
The 15th Finance Commission in India has recommended a
significant increase in the share of tax revenues allocated to state governments. This is aimed at empowering states to address their specific development needs and priorities. What is the potential impact of this recommendation on the fiscal autonomy of state governments?Solution
By increasing the share of tax revenues allocated to states, the Finance Commission's recommendation empowers state governments with greater financial resources, allowing them to make more independent decisions regarding their spending priorities.
The term 'Days of Grace' in relation to a bill of exchange refers to:
Which accounting standard governs the treatment of inventories in India?
Which of the following is an example of transaction in money under GST laws
The person in whose Favor a bill is endorsed is called:
CSR stands for
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.4,00,000 and Income tax rate is 30%, what will be the op...
A negotiable instrument as per the Negotiable Instruments Act, 1881 includes:
Noting charges are ultimately borne by the:
Accounts relating to income, revenue, gain expenses, and losses are termed as:
Mr. X draws a bill on Mr. Y for ₹1,00,000 payable after 3 months. Mr. Y accepts the bill but fails to honour it on maturity. What is this act called i...
