_____ 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
Correct Answer :
B. Continuous
Related Questions
RK (Delhi) supplies goods to AB in Delhi. 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
What kind of Tax is GST?
Direct Tax
Indirect Tax
Depends on the type of goods and services
None of the above
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 a supply of goods or services or Both which is leviable to tax under this act.
Zero-Rated
Taxable
Continuous
Exempt
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
_____ 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
Supply of goods or services which constitutes the predominant element of a composite supply is called
Common Supply
Principal Supply
Continuous Supply
Mixed Supply
GST is a ____________ based tax on consumption of goods and services.
Destination
Duration
Destiny
Development
It is possible to shift the burden of taxation in the case of_____.
Income Tax
Wealth Tax
Gift Tax
Indirect Tax such as GST
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
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
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
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
Goods which get input tax credit without being liable to collect output tax is called
Exempt goods
White goods
Sin goods
Zero rated goods
_____ 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
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
_____ 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
_____ 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
First announcement for introduction of GST arose in
2004
2005
2006
2007
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
6 ._____ supply means supply of goods or services within a single state or union-territory.
Zero-Rated
Continuous
Intra-State Supply
Inter-State Supply
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
Article _____ states that no tax shall be levied or collected except by authority of law.
100
250
265
300
_____ supply means supply of goods or services between two different states or unionterritories.
Zero-Rated
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
_____ 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
_____ 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
Who is the chairperson of the GST Council?
Prime Minister
President
Union Finance Minister
State Revenue Minister
Under which type of tax is the taxation amount collected shared between the centre and the states?
CGST
SGST
UTGST
IGST
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