Q. In which of the following cases, Integrated Goods & Services Tax (IGST) will be applicable?

Select the correct code from the options given below?

1 and 2 only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

2 and 3 only

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

2 only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

1, 2 and 3

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B 2 and 3 only
Explanation:

Statement 1 is incorrect. On Intra-State supply of goods or services, CGST and SGST are applicable.

Statement 2 is correct. Export or import of goods or services attracts IGST.

Statement 3 is correct. When the supply of goods or services is made to or by an SEZ (Special economic zone) unit, IGST is levied.

Suggest Corrections

Similar questions

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?

When supply of a good or service increases, the equilibrium price of the good or service falls and the equilibrium quantity of the good or service rises.

State True or False.

In barter transactions, goods or services are purchased for other goods or services.

Q. ____________ is levied on supply of goods and/or services when both the parties to the transactions are located in the same state.

Q. Which of the following is/are the objectives of developing Special Economic Zones (SEZs)?
A) Generate additional economic activities
B) Generate additional employment opportunities
C) Promotion of export of goods and services

Join BYJU'S Learning Program

Q. In which of the following cases, Integrated Goods & Services Tax (IGST) will be applicable? Select the correct code from the options given below?

Q. In which of the following cases, Integrated Goods & Services Tax (IGST) will be applicable?

Select the correct code from the options given below?