Introduction of GST
gst mcq online test in GST for CA Inter, CMA Inter, CS Inter
Introduction of GST - Test 1
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Subject :- GST
Chapter :- Introduction of GST
Questions :- 25
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gst mcq online test
gst mcq online test for CA,CMA and CS examinations.
Click here for Chapter wise mock tests in GST. gst mcq online test in GST for CA,CMA and CS examinations and CBSE exams and competitive exams
GST Stands for Goods and Services Tax.
GST is an indirect tax levy on the supply of goods and services in India.
GST is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc.
The GST Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017.
GST is levied on the supply of goods and services.
GST Law is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
GST is a single domestic indirect tax law for the entire country.
Under the GST Act, the tax is levied at every point of sale.
GST on intra state sales
In the case of intra-state sales, Central GST and State GST are charged.
GST on inter state sales
All the inter-state sales are chargeable to the Integrated GST.
GST has mainly removed the cascading effect on the sale of goods and services.
Removal of the cascading effect has impacted the cost of goods.
Since the GST regime eliminates the tax on tax, the cost of goods decreases.
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Chapter wise Mock tests in GST prepared by Ekvij Team.
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Definitions of GST
Tax Invoice and E-Way Bill
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