Business Taxation - Quiz 2

CGST and SGST will be levied on

• Intra-state supply

• Inter- state supply

• Import

• Export

Which one of the following shall not be treated as supply

• Rental

• Lease

• Actionable claim

• License

GST Council meeting is convened

• Every week

• Every month

• Every 3 Months

• Any time as required

Where location of the supplier and the place of supply are in two different union territories

• CGST+UTGST is applicable

• IGST is applicable

• SGST+UTGST is applicable

• CGST+IGST is applicable

The rate of IGST is equal to the rate of

• CGST

• SGST

• CGST+ the rate of SGST

• SGST+UTGST

Integrated GST is applicable on goods or services

• Imports

• Inter-State sale

• Exported from India

• Imports and inter-state sales

IGST Act is applicable to

• All the states

• All the union territories

• The whole of India

• All the states except Jammu & Kashmir

Tax rate on goods under GST are determined by

• Union budget

• State budget

• GST council

• Central Govt.

Which of the following is included while computing the value of supply of goods under GST

• Price of the goods

• Packing charges of the goods

• Municipal tax

• All of the above

What deductions are allowed from the transaction value

• Discounts mention on invoice

• Packing charges mention on invoice

• Any amount paid by customer on behalf of the supplier

• Freight char es mention on invoice