GST Quiz: Time, Place, and Value of Supply

What are the three types of taxes that can be charged in an invoice under GST?

• Excise Duty, VAT, and IGST

• SGST, CGST, and IGST

• Income Tax, CGST, and SGST

• VAT, Service Tax, and GST

What does 'time of supply' refer to in GST?

• The time when goods are delivered

• The point in time when goods/services are considered supplied

• The time when payment is received

• The time when the invoice is issued

Which of the following is NOT a basis for determining the time of supply of goods?

• Last date on which invoice should have been issued

• Date of issue of invoice

• Date of receipt of advance

• Date of delivery of goods

In the case of services, what is the earliest time of supply?

• Date of receipt of advance

• Date of provision of services

• Date of issue of invoice

• Date of payment

What is the place of supply for goods usually determined by?

• The location of the invoice

• Where the goods are delivered

• The location of the buyer

• The location of the seller

If goods are assembled and installed, where is the place of supply considered to be?

• Location of installation

• Location of the buyer

• Location of the invoice issuance

• Location of the seller

What is the value of supply under GST?

• The cost price of goods

• The money a seller wants to collect for goods/services

• The market price of goods

• The price set by the government

What happens if the invoice is not issued within the prescribed time for services?

• The time of supply is the date of invoice issuance

• The time of supply is the date of service provision

• The time of supply is the date of payment

• The time of supply is the date of delivery

In the case of reverse charge, what is the time of supply for the service receiver?

• Date of payment

• Date of invoice issuance

• 30 days from date of invoice for goods

• 60 days from date of invoice for services

What is the GST applicable when the place of supply is in different states?

• Only SGST

• SGST + CGST

• Only CGST

• IGST