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GST stands for Goods and Services Tax. Some times People called as GST Tax.
Ekvij provides Mock tests in GST Tax for preparing CA Inter, CA IPCC, CA Final, CS executive, CS Professional, CMA Inter, CMA Final, GST practitioner exam and competitive exams.
GST was first levied by France in 1954.
GST is a destination based tax levied on the basis of the Destination principle.
GST collected on value-added at each stage of the supply chain.
GST is technically paid by suppliers but it is actually funded by consumers
Under GST, input tax credit is provided throughout the value chain for creditable acquisition.
GST is levied on supply of all goods or services or both except supply of alcoholic liquor for human consumption. Five petroleum products viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel have temporarily been kept out of GST.
Electricity has also been kept out of GST.
The structure provided under GST is dual in nature (CGST, SGST, IGST).
Under the GST regime, liability to pay tax arises when a person crosses the turnover threshold of Rs.40 lakhs
GST Composition Scheme, which is mainly devised for small taxpayers, provides concessional rate of tax and filing of quarterly returns.
all about gst in india
Provisions of the Central Goods and Services Tax Act or GST in india, relating to, (i) scope of supply; (ii) composition levy; (iii) composite supply and mixed supply; (iv) time and value of supply; (v) input tax credit; (vi) registration; (vii) tax invoice, credit and debit notes; (viii) accounts and records; (ix) returns; (x) payment of tax; (xi) tax deduction at source; (xii) collection of tax at source; (xiii) assessment; (xiv) refunds; (xv) audit; (xvi) inspection, search, seizure and arrest; (xvii) demands and recovery; (xviii) liability to pay in certain cases; (xix) advance ruling; (xx) appeals and revision; (xxi) presumption as to documents; (xxii) offences and penalties; (xxiii) job work; (xxiv) electronic commerce; (xxv) settlement of funds; (xxvi) transitional provisions; and (xxvii) miscellaneous provisions including the provisions relating to the imposition of interest and penalty.
GST Definition
Question 1 : Which of the following is Input tax ?
1. IGST charged on Import of goods
2.Tax payable under Reverse charge
3.Tax paid under Composition levy
4.Both (1) and (2)
Answer : 4
For Complete Quiz in GST Definition, Click here
GST Composition Levy
Question 1 : Which of the following statement is not correct, in context of composition scheme ? Person who opts for scheme
1. Shall not collect tax from recipient
2. Would not be entitled to any Input tax credit
3. Issue tax invoice for outward supply made by him
4. Issue bill of supply for outward supply made by him
Answer : 3
For Complete Quiz in GST Composition Levy, Click here
GST Tax Rate
For Find out GST tax rates. Click here
Mock tests in GST
Ekvij provides Chapter wise Mock tests in GST for preparing CA Inter, CA IPCC, CA Final, CS executive, CS Professional, CMA Inter, CMA Final, GST practitioner exam and competitive exams.
Advance Ruling
Online Mock test 1 in Advance Ruling
Online Mock test 2 in Advance Ruling
Assessment
Basics of GST
Composition Scheme
Online Mock Test in Composition Scheme
Concept of Supply
Online Mock Test in Concept of Supply
Demands and Recovery
Online Mock Test 1 in Demands and Recovery
Online Mock Test 2 in Demands and Recovery
Exemption from GST
Online Mock Test 1 in Exemption from GST
Online Mock Test 2 in Exemption from GST
Online Mock Test 3 in Exemption from GST
Input Tax Credit
Online Quiz 1 in Input Tax Credit
Online Quiz 2 in Input Tax Credit
Levy of GST
Online Mock test 1 in Levy of GST
Online Mock test 2 in Levy of GST
Liability to Pay in Certain Cases
Online mock Test in Liability to Pay in Certain Cases
Payment of Tax
Place of Supply
Online Exam in Place of Supply
Refunds
Registration
Online Mock Test 1 in Registration
Online Mock Test 2 in Registration
Returns
Reverse Charge
Tax Invoice
Time of Supply
Value of Supply
Online Mock Test in Value of Supply
Definitions of GST
Mock Test in Definitions of GST
Composition Levy
Tax Invoice and E-Way Bill
Mock Test in Tax Invoice and E-Way Bill
Exemption from GST
Mock Test 1 In Exemption from GST
Mock Test 2 In Exemption from GST
Mock Test 3 In Exemption from GST
Input Tax Credit and Its Utilization
Online Mock Test 1 in Input Tax Credit and Its Utilization
Online Mock Test 2 in Input Tax Credit and Its Utilization
Online Mock Test 3 in Input Tax Credit and Its Utilization
Online Mock Test 4 in Input Tax Credit and Its Utilization
Levy and Collection
Online Mock Test in Levy and Collection
Location of Supplier and Place of Supply of GST
Mock Test 1 in Location of Supplier and Place of Supply of GST
Mock Test 2 in Location of Supplier and Place of Supply of GST
Mock Test 3 in Location of Supplier and Place of Supply of GST
Payment of Tax
Online Mock Test in Payment of Tax
Registration of GST
Online Mock Test 1 in Registration of GST
Online Mock Test 2 in Registration of GST
Online Mock Test 3 in Registration of GST
Online Mock Test 4 in Registration of GST
Returns of GST
Online mock Test 1 in Returns of GST
Online mock Test 2 in Returns of GST
Supply under GST
Online Mock test 1 in Supply under GST
Online Mock test 2 in Supply under GST
Online Mock test 3 in Supply under GST
Tax Invoice
Time of Supply
Value of Supply
Online Mock Test 1 in Value of Supply
