The projected revenue of a concerned State for the base year 2015-16 calculated as per section 5 of GST (compensation to state) Act, 2017 is ₹100; then the projected revenue for the financial year 2019-20 of such State a

CS Executive · Tax Laws · PYQS · December 2020
The projected revenue of a concerned State for the base year 2015-16 calculated as per section 5 of GST (compensation to state) Act, 2017 is ₹100; then the projected revenue for the financial year 2019-20 of such State as per this Act shall be equal to __________.
(A) 100(1+14/100)^2
(B) 100(1+14/100)^3
(C) 100(1+14/100)^4
(D) 100(1+14/100)^5

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: GST

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