Chapter 3 - Charge of GST - Introduction & RCM Flashcards
Charge of GST is given u/s _________ of CGST Act 2017
9
GST is applicable on all goods or services or both other than ____________
Alcoholic Liquor for Human Consumption
what is the maximum rate of CGST/SGST that can be applicable on supply of a particular good or service ?
20%
what is the maximum rate of IGST that can be applicable on supply of a particular good or service ?
40%
GST on 5 petroleum products shall be applicable from the date notified by _______ on recommendation of _______
Central Govt ;
GST Council
Name the 5 petroleum products which have been kept temporarily outside the purview of GST.
NH- MAP
natural Gas
high speed diesel
motor spirit
Aviation turbine fuel
petroleum crude
under _________ mechanism GST is paid by the recipient of G/S/B
Reverse Charge
under GST on certain transactions liability to pay GST is on 3rd party, Name the 3rd party
Electronic Commerce Operator (ECO)
Name the list of services for which ECO is liable to pay GST.
Passenger transport facility
Accommodation services
House keeping services
Restaurant services
ECO will be liable to pay GST in case of any passenger transport facility provided through any kind of _________ by ECO __________ Service provider is liable to be __________
Motor vehicle ;
irrespective of whether ;
registered
in case of _________ services ECO will be liable to pay GST only if the service provider is not liable to be registered
Accommodation as well as House Keeping
services provided by GTA to ________ are always taxable under RCM, also define the _________
Specified persons ;
it includes :-
a) factory Est under Factories Act
b) Registered Person
c) Casual Taxable person
d) Society reg under societies Act
e) co - operative society
f) body corporate
g) Partnership firm irrespective of its registration
services provided by GTA to ________ are taxable under optional basis
other than specified persons.
if GTA opts to pay tax under FCM then it shall _______
a) issue Invoice
b) specify on it that it is on forward charge basis
c) charge applicable rates.
Judiciary services under RCM includes services provided by _________
a) individual advocate (including senior advocate)
b) firm of advocates
c) Arbitral Tribunal
services provided by ________ to company or body corporate comes under RCM
Directors ;
if director is an employee then in such case the services provided become exempt by the virtue of Section ______ read with schedule _____
services of Insurance Agent to ______ are taxable under RCM basis
any person
Sponsorship services by ________ to _________ or _________ are taxable under RCM basis
any person ;
any body corporate ;
partnership Firm
services by recovery agent to ________ are taxable under RCM
banking co ;
Financial institution ;
NBFC
services by member of ___________ committee to RBI are taxable under RCM basis
Overseeing
services supplied by _______ Direct selling agent to ______ or ______ are taxable under RCM basis
an individual ;
banking company ;
NBFC
services supplied by business facilitators to _______ are taxable under RCM basis
Banking companny
services provided by __________ of business correspondent to _________ are taxable under RCM basis
an agent ;
such business correspondent
what are the conditions for a services of security agency to fall under the ambit of RCM ?
Security services provided by any person other than a company to a registered person other than a person registered under composition scheme shall be taxable under RCM