The GST (Compensation to States) Act, 2017 was enacted to compensate states for loss of revenue arising on account of implementation of the GST. For how many years was this compensation transition period originally mandated?

Options:

• A: 3 years
• B: 5 years
• C: 7 years
• D: 10 years

Related Practice Questions:

• Let $S_1$ and $S_2$ be two disjoint, non-empty convex sets in $\mathbb{R}^n$. Under which of the following conditions is there guaranteed to exist a hyperplane that strictly separates $S_1$ and $S_2$?
• Let the primal linear programming problem be: Maximize $Z = c^T x$ subject to $Ax \le b, x \ge 0$. If this primal problem has an unbounded optimal objective value, then which of the following statements is always true regarding its dual problem?
• Let $S = \{(x, y) \in \mathbb{R}^2 \mid x^2 + y^2 \le 9\}$ be a convex set in $\mathbb{R}^2$. The set of all extreme points of $S$ is given by:
• In a linear programming problem with $3$ independent equality constraints and $5$ variables (including slack/surplus variables), what is the maximum possible number of basic solutions?