GST

Direct tax are borne by the person.......................

• Liable to pay tax

• By the consumer

• Individual only

• Company only

What do you mean by Cascading Effect?

• Tax on Tax

• Multiple Tax

• Goods and Services Tax

• Input Tax Credit

GST was implemented in India from

• 1st January 2017
• 1st April 2017
• 1st March 2017
• 1st July 2017

GST is a consumption of goods and service tax based on

• Development
• Dividend
• Destiny
• Duration
• Destination

What does “I” in IGST stands stand for?

• Internal
• Intregrated
• Internal
• Intra

Composition scheme is available only for

• Inter state supplies

• B2B supplies

• Intra-state supplies

• E-commerce operators

IGST credit shall first be utilised towards payment of

• CGST

• SGST

• IGST

• UTGST

A person whose aggregate turnover for preceeding year should be .......................................... to register in composition scheme.

• Less than ₹1cr./ ₹75 lakhs

• More than ₹1cr./ ₹75 lakhs

• Less than ₹75 lakhs/ 50 lakhs

• None of the above

In mixed supply GST rate is......................................

• Higher

• Lower

• None

Composite supply means

• Two or more supplies; Naturally Bundled; supplied in conjuction; principal supply

• Two or more supplies; Dealer Bundled; supplied as individual