QUIZ – 2020: Insights Current Affairs Quiz, 5 November 2020

Solution: c)

The government recently hiked the price of ethanol extracted from sugarcane.

At present ethanol production is allowed from C-heavy molasses, B-heavy molasses, sugarcane juice or syrup or direct sugar. The ethanol procurement season by oil marketing companies (OMCs) will run from December 1, 2020, to November 30, 2021.

The government has been implementing Ethanol Blended Petrol (EBP) Programme wherein OMCs sell petrol blended with ethanol up to 10%. This programme has been extended to the whole of India except Union Territories of Andaman Nicobar and Lakshadweep islands with effect from April 1, 2019, to promote the use of alternative and environment-friendly fuels.

Government has notified administered price of ethanol since 2014. For the first time during 2018, the differential price of ethanol-based on raw material utilized for ethanol production was announced by the government.

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Solution: d)

The government has expanded the scope of raw material for ethanol production to include sugar cane juice, sugar beet, sweet sorghum and starch containing material such as corn, cassava, and damaged grain.

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Solution: a)

Solution: a)

Kaziranga National Park and Tiger Reserve (KNPTR):

• It is a national park in Assam.
• Formed in 1908on the recommendation of Mary Curzon, the park is located in the edge of the Eastern Himalayan biodiversity hotspots – Golaghat and Nagaon district.
• It hosts two-thirds of the world’s great one-horned rhinoceroses.
• It is a World Heritage Site.
• It is also recognized as an Important Bird Areaby BirdLife International for the conservation of avifaunal species.
• Much of the focus of conservation efforts in Kaziranga are focused on the ‘big four’ species—Rhino, Elephant, Royal Bengal tiger and Asiatic water buffalo.
• Kaziranga is crisscrossed by four main rivers —Brahmaputra, Diphlu, Mora Diphlu and Mora Dhansiri.

Solution: c)

Reverse charge is a mechanism under which the recipient of the goods or services is liable to pay the tax instead of the provider of the goods and services. Under the normal taxation regime, the supplier collects the tax from the buyer and deposits the same after adjusting the output tax liability with the input tax credit available. But under reverse charge mechanism (RCM), liability to pay tax shifts from supplier to recipient.

The reverse charge clause is the most powerful check that had been inserted into the regulations by the architects of GST.

The intention of RCM was to check tax evasion and expand the tax base. The first few months of GST rollout witnessed sharp expansion in indirect taxpayer base mainly due to the presence of the reverse charge feature.

The other impact of RCM was that smaller vendors who wished to supply to larger clients, voluntarily registered on the GST NETWORK. They were afraid that if unregistered, larger clients might spurn them.

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