Question 1

What does these term refere to:
-Consideration ____________.

Accepted Answer

Consideration is defined under section 2(31) of the Central Goods and Services Tax (CGST) Act. This section outlines what is considered as consideration in the context of the supply of goods or services.

Question 2

What does these term refere to:
-E Commerce Operators __________________

Accepted Answer

D

Question 3

What does these term refere to:
-Supplier ______________.

Accepted Answer

The term "Supplier" is defined under section 2(105) of the CGST Act, which outlines various terms and their definitions relevant to the CGST law.

Question 4

What does these term refere to:
-Recipient _______________.

Accepted Answer

Section 2(93) of the CGST Act defines the term "Recipient."

Question 5

Goods means every kind of _____ property.

Accepted Answer

Goods refer to movable property, as defined in legal and commercial contexts, distinguishing them from immovable property like land or buildings.

Question 6

Which one of the following shall not be treated as supply?

Accepted Answer

Actionable claims, except for lottery, betting, and gambling, are generally not considered as supply under GST laws in many jurisdictions, including India. This is because actionable claims are rights to claim a debt or beneficial interest in movable property that is not in the possession of the claimant, which does not fit into the typical framework of goods or services that are subject to GST.

Question 7

Input means _________

Accepted Answer

The answer of Input means _________
...

Question 8

"Exempt Supply "means supply of any goods or services or both which attracts _______________rate of tax.

Accepted Answer

Exempt supply refers to goods or services that are not subject to tax, meaning they attract a nil rate of tax.

Question 9

Input means any goods other than _________goods.

Accepted Answer

Capital goods are not considered inputs because they are used to produce other goods and services, while inputs are goods that are used directly in the production process.

Question 10

Works of contract in GST is ______________.

Accepted Answer

Works of contract is considered as a supply of service under GST as per the definition provided in the GST law.

Question 11

On which one of the following items, GST will be levied?

Accepted Answer

Liquefied Petroleum Gas (LPG) is subject to GST, while other items like Aviation Fuel, Natural Gas, and High Speed Diesel Oil are not under the purview of GST as they are taxed under different regulations.

Question 12

Rate of IGST on Motor Car is _____________.

Accepted Answer

The rate of IGST (Integrated Goods and Services Tax) on motor cars is 28%. This is because motor cars are considered luxury items and are taxed at the highest GST slab rate.

Question 13

Rate of Tax on platinum CGST and SGST together ______________________.

Accepted Answer

The rate of tax on platinum under CGST (Central Goods and Services Tax) and SGST (State Goods and Services Tax) together is 3%. This is because precious metals like gold, silver, and platinum are taxed at this rate under the GST regime in India.

Question 14

Rate of composition got restaurant is ____________.

Accepted Answer

The answer of Rate of composition got restaurant is ____________.
...

Question 15

Rate of Tax for composition for restaurant is ___________.

Accepted Answer

The answer of Rate of Tax for composition for restaurant...

Question 16

Ayurvedic products comes under which rate structure?

Accepted Answer

The answer of Ayurvedic products comes under which rate structure?
...

Question 17

Under GST, smart phones will be taxed at _____________ percent?

Accepted Answer

Smart phones are taxed at 18% under the Goods and Services Tax (GST) in India.

Question 18

Time period within which invoice has to be issued in case of movable gods ____________

Accepted Answer

The answer of Time period within which invoice has to...

Question 19

Minimum rate of tax under consumption levy for restaurant services _______

Accepted Answer

The answer of Minimum rate of tax under consumption levy...

Question 20

Mr. A is supplier opted composition scheme when he is required to file his return in respect of supply of October 2017 to Dec 2017.

Accepted Answer

The answer of Mr. A is supplier opted composition scheme...

Quiz 5: GST Consideration, E-Commerce, and Tax Rates

What does these term refere to: -Consideration ____________.

What does these term refere to: -E Commerce Operators __________________

What does these term refere to: -Supplier ______________.

What does these term refere to: -Recipient _______________.