Taxation Principles Quiz
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Questions and Answers

What is the foundation stone of any taxation system?

  • Indirect tax regime
  • Tax consequence
  • Levying tax
  • Taxable event (correct)

    • Under the earlier indirect tax regime, what caused controversies and litigation?

  • Introduction of GST laws
  • Interpretations of taxable events (correct)
  • Levying of tax
  • Taxable consequences

    • What are the various taxable events that existed prior to the introduction of GST?

  • Manufacture, sale, rendering of service, purchase, entry into a territory of State (correct)
  • Controversies, litigation, interpretations
  • Taxable event, tax consequence, foundation stone
  • Taxable consequences, levying tax, indirect tax regime

    • What does the GST laws resolve by laying down one comprehensive taxable event?

    <p>Issues related to taxable events</p> Signup and view all the answers

    What is the taxable event that is the foundation stone of the GST laws?

    <p>Supply of goods or services or both</p> Signup and view all the answers

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