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Introduction to GST

is the GST ap...

Question

________ is the GST applicable on the goods and services supply that takes place in any of the five Union Territories of India.

A

UTGST

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B

CGST

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C

SGST

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D

GST

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Solution

The correct option is A UTGST
UTGST stands for Union Territory Goods and Service Tax. It is applicable on the goods and services suplly that takes place in any of the five Union Territories of India.

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Q. Goods and Services Tax (GST) is an indirect tax introduced in India in 2017 that is imposed on the supply of goods and services, and it subsumes all indirect taxes except few. It is a destination-based tax imposed on goods and services used, and it is not imposed at the point of origin from where goods come. GST also has a few components specific to state governments, central government and Union Territories (UTs).
Which one of the following statements can be inferred from the given passage?

Q. 43. Consider the following statements with references to GST
1.GST is based on the principle of destination-based consumption taxation as against the present principle of origin-based taxation.
2. GST is applicable on manufacture of goods or services as against the earlier concept of supply of goods or on sale of goods or on provisioning of services.
3. Integrated GST (IGST) would be levied on inter-state supply of goods or services and proceeds will be apportioned between the Union and the States.
Which of the above statement(s) is/are correct?

Q. Goods and Service Tax (GST) is a consolidation of many ________ already levels in India.

Q. is a single tax on the supply of goods and services.

Q. 2. Enumerate the indirect taxes which have been subsumed in the goods and services tax (GST) in Indi(a) Also, comment on the revenue implications of the GST introduced in India since July 2017.

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