For the purpose of calculating the compensation payable to the States under the Goods and Service Tax (Compensation to States) Act, 2017 the base year for reckoning the Revenue is :

Related MCQs

• 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
• Which of the following statements are correct? (i) Revocation of cancellation of registration under CGST/SGST Act shall be deemed to be a revocation of cancellation of registration under SGST/CGST Act. (ii) Cancellation of registration under CGST/SGST Act shall be deemed to be a cancellation of registration under SGST/CGST Act. (iii) Revocation of cancellation of registration under CGST/SGST Act shall not be deemed to be a revocation of cancellation of registration under SGST/CGST Act. (iv)Cancellation of registration under CGST/SGST Act shall not be deemed to be a cancellation of registration under SGST/CGST Act.
• Section 24 of the CGST Act, 2017 lists categories of persons who are required to take registration even if they are not covered under section 22 of the Act. Find out from the following categories of persons who are being required to take registration as per section 24 of the CGST Act, 2017: (i) Casual taxable person (ii) Non-resident taxable person (iii) Recipient of service under Reverse Charge (iv)Inter-state supplier (v) Input service distributor
• 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 :
• 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
• Mr. Pankaj of Delhi supplied goods to Mr. Krishna of Delhi for ` 1 lakh, on which total GST was charged @ 12%. Mr. Krishna, after purchase of goods, added 20% margin of profit (on cost) and sold the entire goods to Mr. Ravi of Delhi. The total amount of tax payable after claiming input tax on such transaction by Mr. Krishna is:
• In relation to a registered person, input tax means the Central tax, State tax, Integrated tax or Union Territory tax charged on any supply of goods or services or both made to him and includes
• Which of the following called the Union territory as being covered under Union Territory Goods and Service Tax Act, (UTGST), 2017 ?
• Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act, 2017 in case recipient of goods is liable to pay tax under reverse charge mechanism. Date of Invoice : 01-10-2019 Date of receipt of goods : 15-10-2019 Date of payment in books : 10-10-2019 Date of debit of payment in Bank A/c : 12-10-2019
• The time of supply "where goods or services or both have been supplied in a situation where the invoice issued before the change in the rate of tax but payment received after the change in rate of tax" as per section 14 of the CGST Act, 2017 shall be