The Constitution (One Hundred and First Amendment) Act, 2016 provides for compensation to the states for loss of revenue arising on account of implementation of the Goods and Services Tax for a period of ______.

CS Executive · Tax Laws and Practice · PYQS · December 2020
The Constitution (One Hundred and First Amendment) Act, 2016 provides for compensation to the states for loss of revenue arising on account of implementation of the Goods and Services Tax for a period of ______.
(A) 3 Years
(B) 5 Years
(C) 7 Years
(D) 10 Years

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Introduction to GST

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