Indirect Taxes Laws- Quiz 1

Under GST, what is exactly taxed in a supply of goods or services?

• Total Value of Supply

• Only the amount of Value Added

• Cost of goods or services sold

• Specified amount set by GST Council

As per the concept of destination based tax , the SGST/ UTGST component accrues to the:

• State Government/ UT where the sale takes place

• Central Board of Direct Taxes

• Central Board of Indirect Taxes and Customs

• GST Authority which has jurisdiction over place of consumption

Answer explanation

Who enacted UTGST Acts for Union Territories without a legislature?

• Parliament of India

• Respective Union Territories

• Pime Minister of India

• GST Council

How many schedules does the Assam GST Act, 2017 have?

• Four

• Five

• Six

• Seven

How is the Cascading Effect of taxes eliminated in the GST regime?

• Reimbursement by Central Government

• Reimbursement by State Government

• Distribution of GST compensation fund

• Input Tax Credit

Which is NOT a benefit of GST?

• Reduction in Tax rates

• Removal of cascading effect of taxes

• Increased Tax Collection

• Recording of business income

Which of the following taxes has NOT been subsumed by GST?

• Service Tax

• Purchase Tax

• Anti Dumping Duty

• Additional Duties of Customs

Which of the following is NOT a commodity that has been kept outside the scope of GST?

• Achohol for Human Consumption

• Aviation Turbine Fuel

• Defence Equipments procured by Indian Armed Forces

• Electricity

Who among the following does not have voting rights in GST Council meetings?

• Finance Minister of Union Government

• Union minister of State

• Ministers from State Governments

• Chairman of CBIC

GSTN is a:

• Government Company not for profit

• Public Company not for profit

• Private Companyfor profit

• Not for profit, Non Government Company