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
Correct Answer :
D. Supply involving export of goods and services
Related Questions
Which of the following tax rate is not applicable under the GST?
5
12
18
25
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
First announcement for introduction of GST arose in
2004
2005
2006
2007
_____ persons under GST means persons who are under influence of one-another like members of the same family.
Related
Distinct
Influential
Persuasive
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
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
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 NOT include _____.
All forms of supply such as sale, transfer, barter, exchange, lease or rental
Importation of services for a consideration whether or not in the course of business
Activities covered in Schedule I or Schedule II
Export of goods and services
_____ 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
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
_____ 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.
Payment Scheme
Turnover Scheme
Aggregate Scheme
Composition Scheme
What kind of Tax is GST?
Direct Tax
Indirect Tax
Depends on the type of goods and services
None of the above
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
_____ 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
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
Uniform rate of taxes are applicable in the case of _____.
Central Sales Tax
VAT
Excise Duty
GST
_____ 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.
Consideration
Monetary payment
Manufacture
Sales
Under which type of tax is the taxation amount collected shared between the centre and the states?
CGST
SGST
UTGST
IGST
_____ 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
In the case of reverse charge, tax is paid to the government by
Supplier
Buyer
Manufacturer
None
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
Goods are packed and transported with insurance, packing materials, transport and insurance. This is a case of
Exempt
Continuous
Composite
Inter-State Supply
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 a supply of goods or services or Both which is leviable to tax under this act.
Zero-Rated
Taxable
Continuous
Exempt
6 ._____ supply means supply of goods or services within a single state or union-territory.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
_____ 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
Transactions between headquarters and branches of an establishment and stock transfers and branch transfers are known as transactions between _____... persons.
Related
Distinct
Influential
Persuasive
__________ 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
_____ 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