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Current Affairs January 2024

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4

6 ._____ supply means supply of goods or services within a single state or union-territory.

A. Zero-Rated

B. Continuous

C. Intra-State Supply

D. Inter-State Supply

Correct Answer :

C. Intra-State Supply


Related Questions

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In the case of reverse charge, tax is paid to the government by

A. Supplier

B. Buyer

C. Manufacturer

D. None

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4

GST is a ____________ based tax on consumption of goods and services.

A. Destination

B. Duration

C. Destiny

D. Development

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Can Composition scheme be availed if the registered person effects interstate supplies?

A. Yes

B. No

C. Yes, subject to prior approval of the Central Government Levy and Collection of Tax 11 Indirect Taxes Committee

D. Yes, subject to prior approval of the concerned State Government

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4

_____ Supply means a supply made by a taxable person to a recipient which comprises of two or more taxable supplies of goods or services or both, or any combination thereof that are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply.

A. Exempt

B. Continuous

C. Composite

D. Inter-State Supply

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4

Who will notify the rate of tax to be levied under CGST?

A. Central Government suo moto

B. State Government suo moto

C. GST Council suo moto

D. Central Government as per the recommendations of the GST Council

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4

What kind of Tax is GST?

A. Direct Tax

B. Indirect Tax

C. Depends on the type of goods and services

D. None of the above

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4

What is applicability of GST?

A. Applicable all over India except Sikkim

B. Applicable all over India except Jammu and Kashmir

C. Applicable all over India

D. Applicable all over India except Nagaland

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4

RK (Delhi) supplies goods to AB in Delhi. Determine the kind of supply and the applicable tax.

A. Inter-State Supply, IGST

B. Intra-State Supply, CGST and SGST

C. Intra-State Supply, IGST

D. Inter-State Supply, CGST AND SGST

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4

_____ Supply means two or more individual supplies of goods or services or any combination thereof made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.

A. Exempt

B. Mixed

C. Intra-State Supply

D. Inter-State Supply

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4

_____ is a constitutional body created by the President to make recommendations or give any suggestions to the union and state government on issues related to goods and service tax.

A. GST Court

B. GST Apex Body

C. GST Board of Directors

D. GST Council

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4

_____ supply means supply of goods or services which is provided or agreed to be provided on continuous or recurring basis.

A. Exempt

B. Continuous

C. Intra-State Supply

D. Inter-State Supply

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4

RK(Delhi) supplies goods to XY in Mumbai. Determine the kind of supply and the applicable tax.

A. Inter-State Supply, IGST

B. Intra-State Supply, CGST and SGST

C. Intra-State Supply, IGST

D. Inter-State Supply, CGST AND SGST

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4

Goods are packed and transported with insurance, packing materials, transport and insurance. This is a case of

A. Exempt

B. Continuous

C. Composite

D. Inter-State Supply

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4

Supply of goods or services which constitutes the predominant element of a composite supply is called

A. Common Supply

B. Principal Supply

C. Continuous Supply

D. Mixed Supply

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4

Uniform rate of taxes are applicable in the case of _____.

A. Central Sales Tax

B. VAT

C. Excise Duty

D. GST

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4

Which of the following tax rate is not applicable under the GST?

A. 5

B. 12

C. 18

D. 25

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4

It is possible to shift the burden of taxation in the case of_____.

A. Income Tax

B. Wealth Tax

C. Gift Tax

D. Indirect Tax such as GST

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4

_____ persons under GST means persons who are under influence of one-another like members of the same family.

A. Related

B. Distinct

C. Influential

D. Persuasive

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What are different types of supplies covered under the scope of Supply?

A. Supplies made with consideration

B. Supplies made without consideration

C. Both of the above

D. None of the above

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4

What are the factors differentiating Composite Supply & Mixed Supply?

A. Nature of bundling i.e., artificial or natural

B. Existence of Principal Supply

C. Both of the above

D. None of the above

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4

Article _____ grants power to centre to make laws with respect to GST in case of interstate supply of goods and services and state government to make laws with respect to GST in case of intra-state supply of goods and services.

A. 100

B. 246 A

C. 245

D. 145

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4

The final burden of paying taxes in case of income tax is on _____. While in the case of indirect taxes is on_____.

A. Producer, Consumer

B. Consumer, Producer

C. Final Consumer, Taxpayer

D. Taxpayer, Final Consumer

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4

First announcement for introduction of GST arose in

A. 2004

B. 2005

C. 2006

D. 2007

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4

Schedule I of GST includes deemed supplies that is supply without consideration. Such supplies include all of the following except one. Mark the correct answer: -

A. Permanent transfer or disposal of assets

B. Supply between distinct or related persons

C. Supply between principal and agent and Supply involving Import of Services

D. Supply involving export of goods and services

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4

Article _____ states that no tax shall be levied or collected except by authority of law.

A. 100

B. 250

C. 265

D. 300

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4

GST is a _____ based tax.

A. Consumption/Destination

B. Production

C. Manufacture

D. Sales

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4

Goods and services tax mean any tax on supply of goods or services or both except taxes on the supply of the _____...

A. Articles

B. Commodities

C. Any material in tangible form

D. Alcoholic Liquor for human consumption

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4

Which among the following is not the function of Goods and service tax councils:

A. Establish a mechanism for dispute resolution

B. Make recommendations related to GST

C. Make any suggestions related to GST

D. Collect tax

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4

_____ supply means a supply of goods or services or Both which is leviable to tax under this act.

A. Zero-Rated

B. Taxable

C. Continuous

D. Exempt

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_____ in relation to supply of goods or services or both include any payment made or agreed to be made whether in money or otherwise (in kind) in respect of or in response to supply of goods or services or both.

A. Consideration

B. Monetary payment

C. Manufacture

D. Sales