New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which among the following regarding GST is

    correct?
    A GST network was formed under Companies Act Correct Answer Incorrect Answer
    B The 100th Amendment introduced GST in the country Correct Answer Incorrect Answer
    C Centre holds 100 per cent stake in GST network Correct Answer Incorrect Answer
    D GST council is a statutory body Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Goods & Services Tax Council is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax. The GST in the country was introduced through the 101st amendment. As of October 2019, the Centre will own a 50% stake in the GST Network and the remainder will be held by the states on a pro-rata basis in the new structure.

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