A: The Consolidated Fund of India includes all revenues received by the Government. R: The government can withdraw money from the Consolidated Fund without parliamentary approval. Choose the correct option.
A.Both A and R are true but R is NOT the correct explanation of A
B.Both A and R are true and R is the correct explanation of A
Explanation:
The Consolidated Fund of India includes all revenues, loans, and repayments. However, no money can be withdrawn from it without the authorization of Parliament through an Appropriation Bill. A is true, R is false.
Explanation:
Input Tax Credit (ITC) is a mechanism under GST that allows businesses to claim credit for the tax paid on inputs against the tax payable on output.
Explanation:
Personal accounts represent individuals, firms, or companies. The rule dictates debiting the person receiving the benefit and crediting the provider.
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