The 'GST Council' decisions require how much majority?
A. Two-thirds majority
B. Three-fourths of weighted votes
C. Simple majority of members present
D. Unanimous
Answer: Option B
Solution (By JKSSB Mock Tests)
As per Article 279A, decisions are by majority of not less than three-fourths of weighted votes of members present and voting, with Union's weight one-third and states' two-thirds.
Explanation:
Since it was undercast by Rs 720 in the original book, both the Customer (Debit) and Sales (Credit) accounts need to be increased by Rs 720.
Under the Single Entry system, if additional capital introduced is Rs 20,000, Closing Capital is Rs 80,000, Opening Capital is Rs 50,000, and Drawings are Rs 15,000, what is the profit/loss?
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