CS Executive · Tax Laws and Practice · Concept of Indirect Taxes at a Glance
Which statement about the National Calamity Contingent Duty (NCCD) is correct in the context of section 140 of the CGST Act, 2017?
The National Calamity Contingent Duty is leviable under section 136 of the Finance Act, 2001 and is listed among the eligible duties in the explanations to section 140. It is neither service tax nor a State levy.
- AIt is leviable under section 136 of the Finance Act, 2001 and is listed as an eligible dutyCorrect
- BIt is leviable under the Customs Tariff Act, 1975 and is excluded from eligible duties
- CIt is a service tax leviable under section 66B of the Finance Act, 1994
- DIt is a State levy on entertainment
Explanation
Explanations 1 and 2 to section 140 list the National Calamity Contingent Duty leviable under section 136 of the Finance Act, 2001 as an eligible duty. It is not a service tax and not a State levy.
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