MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

IGST

Q. With respe...

Question

Q. With respect to GSTN (Goods and Service Tax Network), consider the following statements:

Which of the statements given above is/are correct?

A

1 only

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

B

2 only

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

C

Both 1 and 2

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

D

Neither 1 nor 2

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

Open in App

Solution

The correct option is A 1 only
Explanation:

Statement 1 is correct: It is a non-profit organization that manages the entire IT system of the GST network.

Statement 2 is incorrect: It is now fully owned by the government. 50% ownership is with the central government and 50% ownership is with state governments and union territories.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Consider the following statements in reference to Goods and Service Tax (GST)?

Which of the statements given above is/are correct?

1 only
2 only
Both 1 and 2
Neither 1 nor 2

Q. Q. With reference to Goods and Service tax (GST), consider the following statements:Which of the above given is/are correct?

2 and 3 only
1, 2 and 3
1 only
3 only

Q. 51. With reference to GST, consider the following statement(s) about Reverse charge Mechanism
1. It is the mechanism where the supplier of goods/services is liable to pay tax instead of the recipient.
2. It may be applicable for both services as well as goods.
3. The purpose of this charge is to increase tax compliance and tax revenues
Which of the above statement(s) is/are correct?

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. Consider the following statements with regards to Goods and Services Tax (GST):

Select the correct answer using the codes given below:

1 and 2 only
2 and 3 only
3 only
1, 2 and 3

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

IGST-concept

MATHEMATICS

Watch in App

explore_more_icon

Explore more

Standard X Mathematics

Join BYJU'S Learning Program

CrossIcon