10 Questions
Which event is considered as the taxable event in GST?
Supply
What does the term 'supply' include?
Sale, transfer, barter, and exchange
Who are considered as separate persons in GST?
Persons and their members
What is included in the term 'supply' in GST?
Sale, purchase, rendering of service, import of goods, and import of services
Which events have been done away with in GST?
Manufacture, sale, rendering of service, purchase, and entry into a territory of State
Which of the following is considered a taxable event in GST?
All of the above
Which of the following is included in the definition of 'supply' in GST?
All of the above
In GST, which of the following is NOT considered a separate person?
Individuals
Which of the following is NOT a form of supply in GST?
Donation
For which of the following considerations can activities or transactions be deemed as supply in GST?
All of the above
Study Notes
Taxable Event in GST
- The taxable event in GST is the 'supply' of goods or services.
Definition of 'Supply'
- 'Supply' includes all forms of supply of goods or services, such as sale, transfer, barter, lease, licensing, or disposal made for a consideration.
Separate Persons in GST
- The following are considered as separate persons in GST:
- Any legal person who owns or controls a business
- A parent and subsidiary company
- A trustee and beneficiary of a trust
- A partner and partnership firm
- A manufacturer and job worker
- A principal and agent
Supply in GST
- Supply includes all forms of supply of goods or services, including:
- Sale, transfer, barter, lease, licensing, or disposal made for a consideration
- Supply of goods and services imported into the territory of India
- Supply of goods and services to or by a Special Economic Zone (SEZ) developer or an SEZ unit
Events Done Away with in GST
- The following events have been done away with in GST:
- Manufacturing and generation of electricity have been exempted
- Services provided by an employee to an employer in the course of employment
- Services by an intermediary, such as an agent or broker, to a principal
Taxable Event
- The taxable event in GST is the 'supply' of goods or services, which includes:
- Sale, transfer, barter, lease, licensing, or disposal made for a consideration
- Supply of goods and services imported into the territory of India
- Supply of goods and services to or by a Special Economic Zone (SEZ) developer or an SEZ unit
Test your knowledge on the taxable event in GST and understand the concept of supply. This quiz covers various aspects of supply, including its definition and different forms. Put your knowledge to the test and see how well you understand this important aspect of the GST framework.
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