Sales Tax Act and VAT Concepts MCQs

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131

Which of the following statements regarding the Goods and Services Tax (GST) is incorrect?

A GST is like a last point retail tax, it is going to be collected at point of sale B It is implemented from 1stJuly, 2017 throughout the country C It will unified the tax structure in India D GST will abolish all the direct tax levied in India

132

Which specific return serves as the initial return filing requirement under the Goods and Services Tax (GST) framework?

133

What is a mandatory requirement for classifying a transaction as a 'continuous supply of goods'?

A Supplier invoices the recipient on a regular or periodic basis. B The goods must be notified by the Commissioner in this behalf; C The supply is made by means of a wire, cable, pipeline or other conduit; D The contract for supply lasts for a minimum period of 3 months;

134

Which article was inserted into the Constitution of India following the 101st Constitutional Amendment Act?

135

Which act empowers the Government of India to levy tax on intra-state supply of goods and services?

136

Evaluate the relationship between the shift to destination-based taxation under GST and the legislative measures taken to address state revenue concerns.

A Both (A) and (R) are true and R is the correct explanation of (A) B (A) is false, but (R) is true C (A) is true but (R) is not true D Both (A) and (R) are true but (R) is not the right explanation of (A)

137

What is the validity period of a GST registration certificate?

138

In which of the following scenarios is a GST refund generally not permitted?

139

How many primary tax rate slabs are included in the Indian GST model?

140

Which of the following statements regarding Input Tax Credit (ITC) under GST is considered incorrect?

A Goods need not be actually received B Goods & services to be used only for business purposes C ITC can be claimed on input, input services & capital goods D Dealer should be in possession of tax invoice

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