| 1. Recent Goods and Services Tax (GST) Bill is a money bill. |
| 2. Being a money bill, Rajya Sabha cannot move amendments to the recently passed GST Bill. |
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: D
Solution :
GST Bill is a constitutional Amendment Bill. Rajya Sabha can make amendments to the bill. It is not a money bill as it makes changes to the constitution for altering the way taxes are levied, collected and divided among the centre and the state. The Bill amends the Constitution to give concurrent powers to Parliament and state legislatures to levy a Goods and Services tax (GST). This implies that the centre will levy a central GST (CGST), while states will be permitted to levy a state GST (SGST). For goods and services that pass through several states, or imports, the centre will levy another tax, the Integrated GST (IGST).
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