Question

Subsides provided by Central/State government_______.

1. Shall be excluded from the value of taxable supply

2. Shall be included from the value of taxable supply

3. Shall require no adjustment

4. Can be included or excluded from the

value of taxable supply​

Answer 1

Explanation:

Only a part of the Central Government subsidies is clearly visible in the Government's budget document. Such explicit subsidies, mainly on food, fertilizer and petroleum, account for about 38 per cent of total Government subsidies, including those 'hidden' in the provision of social and economic services. II.