Goods and Services Tax (BCOM 304)

Stamp Duty and Duties of Excise on medical and toilet preparation as mentioned in the union list shall be levied by GOI but collected by Govt.

• Central Govt

• State Govt

• UT

• b and C

What are different types of supplies covered under the scope of supply?

• Supplies consideration made with consideration

• Supplies made without consideration

• "a" and "b"

• None of the above

What are the factors differentiating composite supply & mixed supply?

• Nature of bundling i.e. artificial

• Existence of principal supply or natural

• "a" and "b"

• None of the above

What would be the tax rate applicable in case of composite supply?

• Tax rate as applicable on principal supply

• Tax rate as applicable on ancillary supply

• Rate applicable on this supply

• None of the above

What is the maximum rate prescribed under CGST Act?

• 12%

• 28%

• 20%

• 18%

A person having ____business verticals in a State ____obtain a separate registration for each business vertical.

• Single, shall

• Multiple, shall

• Multiple, may

• Single, May

What is the validity of the registration certificate?

• One year

• No validity

• Valid till it is cancelled

• Five years

The value of supply of goods and services shall be the

• Transaction value

• MRP

• Market Value

• None of above

The tax which was not merged into GST

• Countervailing Duty

• Excise duty

• Basic Customs Duty

• Purchase tax

Mr. Richard, a trader in Delhi has opted for composition scheme of taxation under GST. Determine the rate of total GST payable by him under composition scheme:

• 0.5% CGST & 0.5% SGST

• 2.5% CGST & 2.5% UTGST

• 5% IGST

• 5% UTGST