GST 2

Whether definition of Inputs includes capital goods.

• Yes
• No
• Certain capital goods only
• None of the above

Which of the following is included for computation of taxable supplies for the purpose of availing credit?

• Zero-rated supplies
• Exempt supplies
• Both
• None of the above

What do you mean by Cascading Effect?

• Tax on Tax

• Multiple Tax

• Goods and Services Tax

• Input Tax Credit

Composition scheme is available only for

• Inter state supplies

• B2B supplies

• Intra-state supplies

• E-commerce operators

In mixed supply GST rate is......................................

• Higher

• Lower

• None

Composite supply means

• Two or more supplies; Naturally Bundled; supplied in conjuction; principal supply

• Two or more supplies; Dealer Bundled; supplied as individual

Indian GST modal is based on

• Canada

• US

• Europe

• America

What is time of supply in GST?

• Date when the supplier receives the payment or the date of invoice whichever is earlier.

• Date on which dealer enter the payment in their book

• Date on which the payment is credited to their account

• Date of Invoice

One tooth paste and tooth brush and a toilet soap sold in a packet for Rs. 50, is a type of

• a). Mixed supply

• b) Composite supply

• c) Joint Supply

• d) Not supply

Tax rate on goods under GST are determined by

• a) Union budget

• b) State budget

• c) Central Govt in consultation with state Govt.

• d) GST council