Q: 19 (CDS-I/2024)
question_subject:
Polity
question_exam:
CDS-I
1. Amendment 115 to the Constitution of India did propose to keep alcohol for human use and five petroleum products outside the ambit of GST. However, this amendment was not enacted. Instead, the 101st Amendment was enacted, which also kept these items outside GST initially.
2. Amendment 122 to the Constitution of India, which was enacted as the 101st Amendment, kept alcohol for human use outside the ambit of GST. Petroleum products were also kept outside initially, but with the provision that GST could be applied to them at a later date.
3. Precious metals, such as gold, are taxed at a rate of 3% under GST, not 1%. Therefore, this statement is incorrect.
4. Unworked diamonds are taxed at a rate of 0.25% under GST, not 0-25%.
Thus, the statement regarding the tax rate on precious metals is incorrect.