Question
As of July 1, 2025, how many years has the Goods and
Services Tax (GST) been in operation?Solution
The GST completed eight years on 1 July 2025, having been implemented on 1 July 2017. It replaced multiple indirect taxes with a unified system and aimed to simplify tax compliance, reduce cascading effects, and foster a common market across India. Over these eight years, GST has significantly impacted revenue collections, logistics, and MSME support.
There are three commodities –the first commodity has a negative price, at −1 per unit; the second commodity is priced at +1 per unit while the third...
If two dice are thrown together, what is the probability of getting an even number on one dice and an odd number on the other dice?
In case of Cob web Model, Damped Oscillation is witnessed when
Which of the following statements is incorrect regarding Phillips’s curve?
As part of the GST 2.0 reforms effective September 2025, which of the following items is likely taxed under the new 40% demerit rate, alongside luxury c...
What does the Weak Axiom of Revealed Preference (WARP) state?
Consider two independent random variables: X~N(5, 4) and Y~N(3, 2). If (2X + 3Y)~N(μ, σ2), then the values of mean (μ) and variance (�...
In classical linear regression model if we add in 90 in X and Y observation and re-estimate the regression model then slope coefficient
Lorenz Curve is given by:
L(x) = 1/3 (X^3) + 2/3 (x^5). Calculate Gini Coefficient.
As per the Economic survey 2023-24, what percentage of India's economy was accounted for by the services sector in FY24?
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