GST is a _____ based tax.
Consumption/Destination
Production
Manufacture
Sales
Correct Answer :
A. Consumption/Destination
Related Questions
Any transaction or occurrence that results in a tax consequence is called a taxable event. In case of GST, the taxable event is_____..
Manufacture
Production
Supply of goods and services
Origin of Sales
Activities or transactions which are neither supply of goods nor supply of services that are covered under negative list are covered under Schedule _____ of the GST act.
I
II
III
IV
A ______ is a mandatory financial charge or levy or burden imposed upon a taxpayer by the government in order to fund different public expenditures.
Subsidy
Tax
Income
Revenue
__________ in relation to supply of goods or services under GST shall be in money or in kind or partly in money and partly in kind or monetary value of any act or forbearance of the supply.
Consideration
Monetary payment
Manufacture
Sales
The system of charging tax on tax (also called as incidence of tax) is called as_____.
Input Tax Credit
Tax Compliance
Cascading Effect
Sales Tax
GST is a _____ based tax.
Consumption/Destination
Production
Manufacture
Sales
Which of the following tax rate is not applicable under the GST?
5
12
18
25
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.
100
246 A
245
145
_____ 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.
Exempt
Continuous
Composite
Inter-State Supply
_____ of services, mean the supply of any service where the supplier of service is located outside India, the recipient/receiver of service is in India and the place of service is in India.
Export
Import
Domestic Produce
Domestic Sales
Under which type of tax is the taxation amount collected shared between the centre and the states?
CGST
SGST
UTGST
IGST
_____ supply means a supply of goods or services or Both which is leviable to tax under this act.
Zero-Rated
Taxable
Continuous
Exempt
Article _____ states that no tax shall be levied or collected except by authority of law.
100
250
265
300
Which among the following is not the type of tax which is directly imposed on the taxpayer and he/she pays the same directly to the government?
Income Tax
Corporate Tax
Wealth Tax
Goods and Service Tax
Under GST, which is the point of collection of taxes?
Manufacture
Production
Destination of Supply
Origin of Sales
Which among the following is not the function of Goods and service tax councils:
Establish a mechanism for dispute resolution
Make recommendations related to GST
Make any suggestions related to GST
Collect tax
The final burden of paying taxes in case of income tax is on _____. While in the case of indirect taxes is on_____.
Producer, Consumer
Consumer, Producer
Final Consumer, Taxpayer
Taxpayer, Final Consumer
_____ ssupply means supply of goods or services or both on which no tax is payable and such supplies include export of goods and supply of goods to special economic zones.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
_____ persons under GST means persons who are under influence of one-another like members of the same family.
Related
Distinct
Influential
Persuasive
Supply of goods or services which constitutes the predominant element of a composite supply is called
Common Supply
Principal Supply
Continuous Supply
Mixed Supply
_____ supply means supply of goods or services which is provided or agreed to be provided on continuous or recurring basis.
Exempt
Continuous
Intra-State Supply
Inter-State Supply
What is the nature of levy in the case of GST?
Only at supply point without input tax credit
All points of manufacture
Only at supply point/consumption of goods and services with input tax credit
At the time of transfer and rent
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: -
Permanent transfer or disposal of assets
Supply between distinct or related persons
Supply between principal and agent and Supply involving Import of Services
Supply involving export of goods and services
Related persons include all but not one of the following. Mark the correct answer.
Directors of each others business
Legally recognised partners
Employer and Employee
Any third person holding 10% shares of both the companies
First discussion paper (FDP) which formed the basis for GST in 2009 was released by
Union Finance Ministry
Dr. Manmohan Singh
GST Council
Empowered Committee
What is applicability of GST?
Applicable all over India except Sikkim
Applicable all over India except Jammu and Kashmir
Applicable all over India
Applicable all over India except Nagaland
Goods and services tax mean any tax on supply of goods or services or both except taxes on the supply of the _____...
Articles
Commodities
Any material in tangible form
Alcoholic Liquor for human consumption
The imposition of direct taxes is on_____. while in the case of indirect taxes it is on __.
Gifts, Income
Income, Goods or Services
Goods or Services, Income
Income, Gifts
What kind of Tax is GST?
Direct Tax
Indirect Tax
Depends on the type of goods and services
None of the above
6 ._____ supply means supply of goods or services within a single state or union-territory.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply