Supply includes import of services for a consideration .

Related MCQs

• Which of the following services are notified under section 9(3) of CGST Act, 2017 or section 5(3) of IGST Act, 2017 the tax on which shall be paid on reverse charge basis by the recipient of such supply ? (i) Supply of security services provided by a person other than a body corporate to a composition tax payer (ii) Services supplied by an insurance agent to insurance company located in taxable territory (iii) Supply of services by way of renting of hotel accommodation through e-commerce operator. (iv)Supply of notified categories of goods or services or both by a supplier, who is not registered, to specified class of registered persons. Choose from the following options :
• Exempt supply means supply of any goods or services or both which may be wholly exempt from tax under section 11 or under section 6 of the IGST Act and includes (i) non-taxable supply (ii) zero rated supply (iii) supply having nil rate of tax (iv) composite supply
• Continuous supply of services” means a supply of services who provided, or agreed to be provided, continuously or on recurrent basis, under a contract, for a period exceeding MONTHS with periodic payment obligations and includes supply of such services as the Government may, subject to such conditions, as it may, by notification, specify
• Section 2(6) of the CGST / SGST Act, 2017 defines aggregate turnover which is being computed on all India basis excluding the taxes charged under CGST Act, SGST Act, UTGST Act and IGST Act. Aggregate turnover shall include all supplies made by a taxable person comprising of (i) Taxable supply (ii) Exempt supply (iii) Export of goods and services (iv)All inter-state supply of person having same PAN (v) Supply on which tax is levied on reverse charge basis (vi)Value of all inward supply
• Section 2(62) of the CGST Act, 2017 specifies input tax in relation to a registered person to mean Central Tax, State Tax, Integrated Tax or Union Territory Tax charged on any supply of goods or services or both and also include: (i) Integrated goods and services, tax charged on import of goods (ii) Tax under the provisions of section 9(3) and 9(4) (iii) Tax paid under composition levy (iv)Tax under Union Territory Goods and Services Tax Act
• A Ltd. is located in India and W Ltd. located in USA are associated enterprises (as A Ltd. holds 51% of the shares of W Ltd.). W Ltd. provides some technical services to A Ltd. in India. From the following details, determine the TOS for A Ltd. (as importation of services is the case of RCM) Agreed Consideration - $ 10,000. Date on which services are supplied on W Ltd. - 16th Dec. 2019 Date on which invoice is sent by W Ltd. - 19th Dec. 2019 Date of entry in the Books of Account of A Ltd. - 30th Dec. 2019 Date on which payment is made by A Ltd. - 23rd March 2020
• From the following information determine the value of taxable supply as per provisions of Section 15 of the CGST Act, 2017? Contracted value of supply of goods (including GST @ 18%) 11,80,000 The contracted value of supply includes the following: (1) Cost of primary packing 25,000 (2) Cost of protective packing at recipient’s request for safe transportation 15,000
• The exception to the general rule that "normally, the supplier of goods and services is liable to pay tax on supply, even if he does not collect from his customer i.e. recipient of supply of goods and services" shall be applicable where there are
• Which of the following activity shall be treated neither as a supply of goods nor a supply of services ? (i) Permanent transfer of business assets where input tax credit has been availed on such assets (ii) Temporary transfer of intellectual property right (iii) Transportation of deceased (iv) Services by an employee to the employer in the course of employment
• A supply made by a taxable person to a recipient consisting of two or more taxable supply of goods or services of both or any combination thereof which are only bundled and supplied in conjunction with each other in the ordinarily course of business out of which one is a principal supply has been defined u/s 2(3) of CGST Act, 2017 to mean