GST is a comprehensive indirect tax levied on: MCQ with Answer and Explanation

Explanation:
IRR = Lower Rate + (NPV at Lower Rate / (NPV at Lower Rate - NPV at Higher Rate)) x Difference in Rates. IRR = 10 + (50,000 / (50,000 - (-20,000))) x 5 = 10 + (50,000 / 70,000) x 5 = 10 + 3.57 = 13.57%. Wait, 10 + (50/70)*5 = 10 + 3.57 = 13.57%. Let me adjust the options to match 13.5%.

Explanation:
ITC avoids the cascading effect of taxes by allowing a set-off of tax paid on inputs against tax payable on output.

Explanation:
Article 279A dictates that every decision of the GST Council must be supported by a minimum of 75% (three-fourths) weighted majority of the members present and voting.