Which tax reform introduced the concept of 'One Nation, One Tax'? MCQ with Answer and Explanation

Explanation:
The distinction between Plan and Non-Plan expenditure was abolished in the Union Budget of 2017-18. It was replaced by a more meaningful classification of Capital and Revenue expenditure to improve the quality of government spending.

Explanation:
The accrual concept dictates that expenses are recognized when incurred, regardless of when the cash is actually paid.

Explanation:
GST is a comprehensive indirect tax levied on the *supply* of goods and services. It replaced the tax on manufacture (Excise Duty) and tax on sale (VAT). S1 is correct, S2 is incorrect.