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GST : basic Flashcards

(29 cards)

1
Q

which amendment

A

The 101st Constitutional Amendment Act

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2
Q

When was GST implemented in India?

A

July 1, 2017

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3
Q

compensation cess

A

31 march 2026

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4
Q

gst is _____ based tax

A

destination

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5
Q

registration threshold limit

10 lakh

A
  • MANIPUR
  • MIZORAM
  • NAGALAND
  • TRIPURA
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6
Q

registration threshold limit

20 LAKH

A

A MEGA SIP OF ULTRA PERFECT TEA
* ARUNACHAL PRADESH
* MEGHALAYA
* SIKKIM
* UTTRAKHAND
* PUDUCHERRY
* TEL

USA PTM**

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6
Q

NARCOTICS

A

GST + STATE EXISE DUTY

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7
Q

GST IS

NOT APPLICABLE TO

A

ALCOHOLIC LIQUOUR FOR HUMAN CONSUMPTION

STATE EXICE DUTY

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7
Q

GST GETS

LEVIED ON …. FROM DATE TO BE NOTIFIED.

A

HP MAN
HIGH SPEED DIESEL
PETROLEUM CRUDE
MOTOR SPIRIT
AVIATION TURBINE FUEL
NATURAL GAS

CENTRAL EXISE DUTY

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8
Q

benefits of gst

A
  1. economy
  2. simplified tax structure
  3. easy compliances
  4. trade and industry
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8
Q

TOBACCO

A

GST + CENTRAL EXISE DUTY

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9
Q

article 246A

A

power to make law with respect to goods and service tax

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9
Q

article 269A

A

levy and collect gst on inter state supply

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10
Q

The 101st Constitutional Amendment Act

A

which amendment

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11
Q

July 1, 2017

A

When was GST implemented in India?

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12
Q

31 march 2026

A

compensation cess

13
Q

destination

A

gst is _____ based tax

14
Q
  • MANIPUR
  • MIZORAM
  • NAGALAND
  • TRIPURA
A

registration threshold limit

10 lakh

15
Q

A MEGA SIP OF ULTRA PERFECT TEA
* ARUNACHAL PRADESH
* MEGHALAYA
* SIKKIM
* UTTRAKHAND
* PUDUCHERRY
* TEL

USA PTM**

A

registration threshold limit

20 LAKH

16
Q

GST + STATE EXISE DUTY

17
Q

ALCOHOLIC LIQUOUR FOR HUMAN CONSUMPTION

STATE EXICE DUTY

A

GST IS

NOT APPLICABLE TO

18
Q

HP MAN
HIGH SPEED DIESEL
PETROLEUM CRUDE
MOTOR SPIRIT
AVIATION TURBINE FUEL
NATURAL GAS

CENTRAL EXISE DUTY

A

GST GETS

LEVIED ON …. FROM DATE TO BE NOTIFIED.

19
Q
  1. economy
  2. simplified tax structure
  3. easy compliances
  4. trade and industry
A

benefits of gst

20
Q

GST + CENTRAL EXISE DUTY

21
power to make law with respect to goods and service tax
article 246A
22
levy and collect gst on inter state supply
article 269A
23
# SUPPLY section 7...SCHEDULE ?
1. supply without considerstion 2. supply of goods /service 3. not supply
24
# negative list schedule III
* **n**tt to ntt * **e**mployee 50,000rs * **w**arehousing before custom duty * **m**ortuary * **a**ctionable claims * **g**ovt sahab * **i**mmovable propert (completed) * **c**ourt * **liquour** ➡ not even on licence | **NEW MAGIC**
25
section 8
composite and mixed supply