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Direct & Indirect Taxes

is levied by ...

Question

_______ is levied by the state where the goods are being sold/purchased.

A

CGST

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B

IGST

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C

GST

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D

SGST

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Solution

The correct option is B SGST
SGST is levied by the state where the goods are being sold/purchased. SGST is levied on inter state supply.

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Similar questions

Q. There is a slight confusion regarding GST in the Border areas of Bihar. For the goods being sold across the state, GST is being levied but everything is going to the Central government. What is the GST being levied here?

Q. Journalise the following transactions of Ram Delhi:

2018		₹
Jan. 1	Ram commenced business with cash	30,000
Jan. 2	Open a bank account with Union Bank by cheque from saving account	21,000
Jan. 3	Purchased goods from Rahul in cash	10,000
Jan. 7	Withdrew cash from bank for office use	3,000
Jan. 10	Sold goods to Hari, Delhi on credit	5,000
Jan. 15	Purchased goods from Shyam, Meerut (UP)	15,000
Jan. 20	Cash sales	3,000
Jan. 25	Paid to Shyam	14,750
	Discount Received	250
Jan. 31	Paid Salaries	10,000

CGST and SGST is levied @ 6% each on intra-state sale and purchase. IGST is levied @12% on inter-state sale and purchase.

Q. A purchased certain goods and sold them to B at a profit of

20

%. B sold the goods to C at a loss of

30

9, 000

. The purchase price for A was

With Goods and Services Tax (GST)
Journalise the following transactions of Singh Enterprises, Delhi:

2017
June 1
June 2
June 3
June 4
June 11
June 13
June 17
June 20
June 27
June 30

Started business with cash
Deposited cheque from Savings Account in firm's account
Received cash from Ram
Purchased goods for cash
Sold goods to M/s. Hari Sales, Delhi
Paid to Ramavtar
Received from M/s. Hari Sales
Bought furniture from S.R. Furnishers against Cash (including CGST and SGST)
Paid rent
Paid salary

50,000
2,00,000
50,000
15,000
12,000
40,000
10,000
22,400
28,000
50,000

CGST and SGST @ 6% each is levied on Intra-state sale and purchase.

Q. Which among the following are final goods and which are intermediate goods? Give reasons.
(a) Milk purchased by a tea stall
(b) Bus purchased by a school
(c) Juice purchased by a student from the school canteen.

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