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Levy of GST

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MCQ’s in Levy of GST for preparation of CA inter, CA IPCC, CA Final, CS, CMA , GST practitioner, Academic and competitive exams.

Mock test in Levy of GST

Subject :- GST for CA Final

Chapter :- Levy of GST – Test 1

Questions :- 30

GST is levied on supply of all goods or services or both.

Exception :-  supply of alcoholic liquor for human consumption.

petroleum products

Five petroleum products viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel have temporarily been kept out GST.

Electricity

Electricity has also been kept out of GST

dual in nature

Structure provided under GST is dual in nature.

the Centre and the States simultaneously levy tax on a common base.

Types of GST

types of GST are CGST, IGST, SGST or  UTGST.

CGST :-  GST levied by Centre on intra-State supply of goods and / or services is called Central GST (CGST).

SGST :- GST levied by States on intra-State supply of goods and / or services is called State GST

UTGST :-  GST levied by Union territory on intra-State supply of goods and / or services is called Union territory GST

IGST :- IGST is levied and administered by Centre on every inter-state supply of goods and services.