With reference to the recent GST Council meeting, consider the following statements:

Question

The first set of Appellate Tribunals is expected to become operational within four to six months.

The taxation of online gaming industry was finalized at a 28% GST levy on the face value of all bets.

The Council granted tax exemptions and reduced rates for food and beverages in cinema halls, unfried snack pellets, fish soluble paste, and imitation zari yarn.

The Council appointed a successor to the ministerial group responsible for rate restructuring.

How many statements given above are correct?

(a) Only one statement

(b) Only two statements

(c) Only three statements

(d) All four statements

Answer 1

Answer: (c) Only three statements

Explanation: Statement 1 is correct as the first set of Appellate Tribunals is expected to become operational within four to six months as per the information provided. Statement 2 is also correct as the Council finalized a 28% GST levy on the face value of all bets in the online gaming industry. However, Statement 3 is incorrect as it mentions tax exemptions and reduced rates for additional items not mentioned in the provided information. Statement 4 is incorrect as there is no mention of a successor being appointed to the ministerial group responsible for rate restructuring.