Related Questions
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4
Supply of goods or services which constitutes the predominant element of a composite supply is called
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GST is a _____ based tax.
A. Consumption/Destination
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The final burden of paying taxes in case of income tax is on _____. While in the case of indirect taxes is on_____.
C. Final Consumer, Taxpayer
D. Taxpayer, Final Consumer
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_____ 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.
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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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_____ 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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6 ._____ supply means supply of goods or services within a single state or union-territory.
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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
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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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
It is possible to shift the burden of taxation in the case of_____.
D. Indirect Tax such as GST
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Under which type of tax is the taxation amount collected shared between the centre and the states?
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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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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
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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4
Who will notify the rate of tax to be levied under CGST?
A. Central Government suo moto
B. State Government suo moto
D. Central Government as per the recommendations of the GST Council
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__________ 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.
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_____ 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.
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RK(Delhi) supplies goods to XY in Mumbai. 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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The system of charging tax on tax (also called as incidence of tax) is called as_____.
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_____ supply means supply of goods or services which is provided or agreed to be provided on continuous or recurring basis.
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4
First announcement for introduction of GST arose in
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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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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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Goods are packed and transported with insurance, packing materials, transport and insurance. This is a case of
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_____ 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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_____ persons under GST means persons who are under influence of one-another like members of the same family.
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GST is a ____________ based tax on consumption of goods and services.
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Goods which get input tax credit without being liable to collect output tax is called
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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