Podcast
Questions and Answers
Which type of tax is directly imposed on individuals and organizations by the government?
Which type of tax is directly imposed on individuals and organizations by the government?
- State Goods and Services Tax (SGST)
- Integrated Goods and Services Tax (IGST)
- Union Territory Goods and Services Tax (UTGST)
- Direct Taxes (correct)
What is the main purpose of the GST Council?
What is the main purpose of the GST Council?
- To oversee the implementation of Central Goods and Services Tax (CGST)
- To recommend tax rates and exemptions under GST (correct)
- To manage Union Territory Goods and Services Tax (UTGST)
- To enforce State Goods and Services Tax (SGST)
What is the threshold for registration as a regular taxpayer under GST?
What is the threshold for registration as a regular taxpayer under GST?
- $50,000 turnover
- $75,000 turnover
- $150,000 turnover
- $100,000 turnover (correct)
Which type of taxpayer can opt for the Composition Scheme under GST?
Which type of taxpayer can opt for the Composition Scheme under GST?
What is the main source of income exempted from tax under the head 'Capital Gains'?
What is the main source of income exempted from tax under the head 'Capital Gains'?
Under which tax law does the exemption to EOU/SEZ fall?
Under which tax law does the exemption to EOU/SEZ fall?
What is the assessment year used for in income tax regulations?
What is the assessment year used for in income tax regulations?
Who is responsible for the valuation of perquisites under the head 'Salary'?
Who is responsible for the valuation of perquisites under the head 'Salary'?
What is the significance of understanding the background of the Indian Constitution in relation to taxation matters?
What is the significance of understanding the background of the Indian Constitution in relation to taxation matters?
According to the passage, which of the following is a component of a Tax Invoice under GST?
According to the passage, which of the following is a component of a Tax Invoice under GST?
In the context of Indian taxation, what is the consequence if any Act, Rule, Notification, or Government Order is found to be not according to the Constitution?
In the context of Indian taxation, what is the consequence if any Act, Rule, Notification, or Government Order is found to be not according to the Constitution?
What is the foundation and source of power to all laws in India?
What is the foundation and source of power to all laws in India?
According to the passage, what happens if any Act, Rule, Notification or Government Order is not according to the Constitution?
According to the passage, what happens if any Act, Rule, Notification or Government Order is not according to the Constitution?
What is the primary significance of the Constitution in relation to taxation matters?
What is the primary significance of the Constitution in relation to taxation matters?
What type of structure does India's Constitution generally follow?
What type of structure does India's Constitution generally follow?
What would make an Act, Rule or Notification illegal and void according to the passage?
What would make an Act, Rule or Notification illegal and void according to the passage?
What happens if any Act, Rule, Notification or Government Order is found not according to the Indian Constitution?
What happens if any Act, Rule, Notification or Government Order is found not according to the Indian Constitution?
What is necessary in order to understand and appreciate the statutes enacted under Indian Constitution according to the passage?
What is necessary in order to understand and appreciate the statutes enacted under Indian Constitution according to the passage?
