Goods And Service Tax Is A Tax System Mcq

The market value of said goods are rs 10 lakhs gst payable thereon is 18.

Goods and service tax is a tax system mcq. Now all indirect taxes involving at each stage of the production cycle buying raw materials processing manufacturing warehousing and sale to the final customers sub messed to a single tax i e. The goods are confiscated by the proper officer since it was supplied in contravention of the provision of cgst act 2017 with an intent to evade tax. Goods and services tax is a comprehensive indirect tax which is to be levied on the manufacture sale and consumption of goods and services in india. This tax has subsumed many indirect taxes.

The goods and services tax gst is a tax on goods and services sold domestically for consumption. C 1st march 2017. Goods and services tax gst multiple choice questions mcqs and answers. Gst introduced in india from 1st july 2017 by the introduction of gst all the indirect taxes clubbed into the single tax that is goods services tax.

D 1st july 2017. We have composed some important mcqs type gk questions for competitive exams like banking ssc upsc psc railway exams ibps sbi lic etc. D government sales tax. Gst and will be paid by the final consumer.

B goods and services tax. Gst was implemented in india from. The tax is included in the final price and paid by consumers at point of sale and passed to the. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations.

We have composed some important mcq type gst gk questions for competitive exams like banking ssc upsc psc railway exams ibps sbi lic etc. Gst goods and service tax indirect tax mcq questions and answers with easy and logical explanations. This article covers economic survey 2017 19 of india quiz pdf notes key highlights objective questions useful for upsc prelims civil services cs executive for rbi grade b exam and nabard grade a exam and other competitive exams. Gst questions and answers pdf mcqs multiple choice questions on goods and services tax in india.

C general sales tax. Gst goods and service tax is important for exams like ca cs cma cpa cfa upsc net banking and other taxation department exam. Goods and services tax mcqs. B 1st april 2017.

We have made 10 relevant questions on the gst for the different. Mr x dispatched goods costing 8 lakhs to mr y through a hired vehicle with a tax invoice. This is so far the b. Gst law has replaced many indirect tax laws that previously existed in india.

What is the full form of gst. A goods and supply tax. Gk general studies optional notes for upsc ias banking civil services.