CAP CLASSES

Qn 10) Discount given after the supply has been effected is deducted from the value of taxable supply, if – (i) such discount is given as per the agreement entered into at/or before the time of such supply (ii) such discount is linked to the relevant invoices (iii) proportionate input tax credit is reversed by the recipient of supply

Qn 8)Which of the following services are exempt from GST? (a)Services by an artist by way of a performance in classical art forms of painting/sculpture making etc. with consideration thereof not exceeding ` 1.5 lakh. (b)Services by an artist by way of a performance in modern art forms of music/ dance/ theatre with consideration thereof not exceeding ` 1.5 lakh. (c)Services by an artist by way of a performance in folk or classical art forms of music/ dance/theatre with consideration thereof exceeding ` 1.5 lakh. (d)Services by an artist by way of a performance in folk or classical art forms of music/ dance / theatre with consideration thereof not exceeding ` 1.5 lakh.

Qn 7) An exempt supply includes- (i)Supply of goods or services or both which attracts Nil rate of tax (ii)Non-taxable supply (iii)Supply of goods or services or both which are wholly exempt from tax under section 11 of the CGST Act or under section 6 of IGST Act

Qn 6) ‘P’ Ltd. has its registered office, under the Companies Act, 2013, in the State of Maharashtra from where it ordinarily carries on its business of taxable goods. It also has a warehouse in the State of Telangana for storing said goods. What will be the place of business of ‘P’ Ltd. under the GST law?

Qn 5) Rama Ltd. has provided following information for the month of September: Intra-State taxable outward supply 8,00,000 Inter-State exempt outward supply 5,00,000 Turnover of exported goods 10,00,000 Payment made for availing GTA services* 80,000 * GTA not paying tax @ 12%

Qn 4) Which of the following activities is a supply of services? (i) Transfer of right in goods/ undivided share in goods without transfer of title in goods (ii) Transfer of title in goods (iii) Transfer of title in goods under an agreement which stipulates that property shall pass at a future date upon payment of full consideration as agreed.

Qn 3) Which of the following services are not exempt from GST? (a) Yoga camp conducted by a charitable trust registered under section 12AB (erstwhile under section 12AA) of the Income-tax Act, 1961. (b) Services provided by business correspondent with respect to Savings Bank Accounts in the rural branch of a bank (c) Services provided by cord blood bank for preservation of stem cells. (d) Service provided by commentator to a recognized sports body

2) In case of Goods Transport Agency (GTA) services, tax is to be paid under forward charge if:(a)GST is payable @ 12% (b)GST is payable @ 5% and a factory registered under the Factories Act, 1948 is the recipient of GTA service. (c)An unregistered individual end consumer is the recipient of GTA service. (d) A registered casual taxable person is the recipient of GTA service.

TODAY'S GST QUIZ (PART -3) ⬇️

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