_____ means receivers of goods or services are liable to pay the GST instead of suppliers.
Forward Charge Mechanism
Ordinary Mechanism
Routine Mechanism
Reverse Charge Mechanism
Correct Answer :
D. Reverse Charge Mechanism
Related Questions
_____ 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.
GST Court
GST Apex Body
GST Board of Directors
GST Council
RK(Delhi) supplies goods to XY in Mumbai. Determine the kind of supply and the applicable tax.
Inter-State Supply, IGST
Intra-State Supply, CGST and SGST
Intra-State Supply, IGST
Inter-State Supply, CGST AND SGST
_____ supply means supply of goods or services between two different states or unionterritories.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
6 ._____ supply means supply of goods or services within a single state or union-territory.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
Under GST, which is the point of collection of taxes?
Manufacture
Production
Destination of Supply
Origin of Sales
What are different types of supplies covered under the scope of Supply?
Supplies made with consideration
Supplies made without consideration
Both of the above
None of the above
GST is a ____________ based tax on consumption of goods and services.
Destination
Duration
Destiny
Development
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
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
__________ 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
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
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
Who will notify the rate of tax to be levied under CGST?
Central Government suo moto
State Government suo moto
GST Council suo moto
Central Government as per the recommendations of the GST Council
_____ 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
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
_____ supply means supply of goods or services or both which attract nil rate of tax and which are not chargeable to tax.
Exempt
Continuous
Intra-State Supply
Inter-State Supply
Under which type of tax is the taxation amount collected shared between the centre and the states?
CGST
SGST
UTGST
IGST
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
Both are friends with each other however they do not control each others actions
_____ 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
Uniform rate of taxes are applicable in the case of _____.
Central Sales Tax
VAT
Excise Duty
GST
A supply of a package consisting of canned foods, sweets, chocolates, cakes, dry fruits, aerated drinks and fruit juices when supplied for a single price is
Exempt
Mixed
Intra-State Supply
Inter-State Supply
What are the factors differentiating Composite Supply & Mixed Supply?
Nature of bundling i.e., artificial or natural
Existence of Principal Supply
Both of the above
None of the above
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
GST is a _____ based tax.
Consumption/Destination
Production
Manufacture
Sales
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
Can Composition scheme be availed if the registered person effects interstate supplies?
Yes
No
Yes, subject to prior approval of the Central Government Levy and Collection of Tax 11 Indirect Taxes Committee
Yes, subject to prior approval of the concerned State Government
It is possible to shift the burden of taxation in the case of_____.
Income Tax
Wealth Tax
Gift Tax
Indirect Tax such as GST
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
_____ 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.
Exempt
Mixed
Intra-State Supply
Inter-State Supply
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