Related Questions
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4
Can Composition scheme be availed if the registered person effects interstate supplies?
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
_____ is a simple and easy scheme under GST which can be opted by the small taxpayers whose aggregate turnover of the preceding year is less than Rs.1.5 Crore which helps them to get rid of tedious GST formalities and pay GST at a fixed rate of turnover.
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4
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.
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4
Related persons include all but not one of the following. Mark the correct answer.
A. Directors of each others business
B. Legally recognised partners
D. Both are friends with each other however they do not control each others actions
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4
GST is a ____________ based tax on consumption of goods and services.
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Article _____ states that no tax shall be levied or collected except by authority of law.
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_____ persons under GST means persons who are under influence of one-another like members of the same family.
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_____ 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.
C. GST Board of Directors
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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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_____ supply means a supply of goods or services or Both which is leviable to tax under this act.
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4
What are different types of supplies covered under the scope of Supply?
A. Supplies made with consideration
B. Supplies made without consideration
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4
Related persons include all but not one of the following. Mark the correct answer.
A. Directors of each others business
B. Legally recognised partners
D. Any third person holding 10% shares of both the companies
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4
First announcement for introduction of GST arose in
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Goods and services tax mean any tax on supply of goods or services or both except taxes on the supply of the _____...
C. Any material in tangible form
D. Alcoholic Liquor for human consumption
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_____ supply means supply of goods or services or both which attract nil rate of tax and which are not chargeable to tax.
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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
GST is a _____ based tax.
A. Consumption/Destination
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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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Goods which get input tax credit without being liable to collect output tax is called
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Transactions between headquarters and branches of an establishment and stock transfers and branch transfers are known as transactions between _____... persons.
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6 ._____ supply means supply of goods or services within a single state or union-territory.
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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.
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4
What is the nature of levy in the case of GST?
A. Only at supply point without input tax credit
B. All points of manufacture
C. Only at supply point/consumption of goods and services with input tax credit
D. At the time of transfer and rent
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4
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?
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4
First discussion paper (FDP) which formed the basis for GST in 2009 was released by
A. Union Finance Ministry
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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.
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_____ 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.
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4
Who is the chairperson of the GST Council?
C. Union Finance Minister
D. State Revenue Minister
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Any transaction or occurrence that results in a tax consequence is called a taxable event. In case of GST, the taxable event is_____..
C. Supply of goods and services
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Goods are packed and transported with insurance, packing materials, transport and insurance. This is a case of