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CA Inter GST Time, Value, Place of Supply and Input Tax Credit — practice questions — page 2

Explore 86 free GST Time, Value, Place of Supply and Input Tax Credit questions in CA Inter Taxation. Open each question or exercise to read its content, reference answers and available explanation.

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GST Time, Value, Place of Supply and Input Tax Credit questions and exercises with answers

Showing questions 31–60 of 86.

A composite supply consists of supplies that areRead the answer and worked solution →Goods packed and transported with insurance form a composite supply whose principal supply isRead the answer and worked solution →A composite supply is taxed asRead the answer and worked solution →A mixed supply is taxed at the rate of theRead the answer and worked solution →The statutory example of a mixed supply isRead the answer and worked solution →A single-price hamper mixes goods taxed at 5%, 12% and 18%. Rate applied?Read the answer and worked solution →Passing the title in goods to a buyer is classified by the Schedule asRead the answer and worked solution →Handing over only the right in goods, with title kept back, is classified asRead the answer and worked solution →Under Schedule II, a lease, tenancy or licence to occupy land is treated asRead the answer and worked solution →A job worker applying a process to a customer's goods makesRead the answer and worked solution →A firm lets staff use business goods for private purposes. This is classified asRead the answer and worked solution →A landlord renting out a shop is makingRead the answer and worked solution →Construction for sale is services unless all consideration is receivedRead the answer and worked solution →Letting someone use your copyright for a time is classified asRead the answer and worked solution →Promising to tolerate a rival's act for a fee is classified asRead the answer and worked solution →Giving a customer the right to use machinery for rent is classified asRead the answer and worked solution →A contractor building a house under a works contract makesRead the answer and worked solution →A hire-purchase style deal where title passes after full payment is classified asRead the answer and worked solution →Business assets are deemed supplied on cessation unless the businessRead the answer and worked solution →ITC is blocked on goods or services used forRead the answer and worked solution →ITC is blocked on goods that areRead the answer and worked solution →A person applying for registration within this many days of becoming liable can claim ITC on stock heldRead the answer and worked solution →Delhi seller ships goods to a Surat buyer. Place of supply of the goods?Read the answer and worked solution →Where goods are supplied without any movement, the place of supply is the location of goods at the time ofRead the answer and worked solution →Goods delivered on a third person's direction: place of supply is hisRead the answer and worked solution →For goods assembled or installed at site, the place of supply isRead the answer and worked solution →For goods supplied on board a train or aircraft, the place of supply is where the goods areRead the answer and worked solution →For goods supplied to an unregistered person, place of supply is the address recorded in the invoice, or if none, theRead the answer and worked solution →For services to a registered person (general rule), place of supply is theRead the answer and worked solution →Ordinary services to an unregistered person: place of supply is recipient's location ifRead the answer and worked solution →

Worked practice questions

A composite supply consists of supplies that are

  1. priced separately in the invoice
  2. naturally bundled in the ordinary course
  3. sold only to registered persons
  4. always taxed at different rates
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Correct answer: B. naturally bundled in the ordinary course

Section 2(30) defines a composite supply as taxable supplies naturally bundled and supplied together in the ordinary course, one being principal.

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Goods packed and transported with insurance form a composite supply whose principal supply is

  1. the insurance
  2. the transport
  3. the packing
  4. the goods
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Correct answer: D. the goods

In the statutory illustration the supply of goods is the principal supply, with packing, transport and insurance ancillary to it.

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A composite supply is taxed as

  1. its principal supply
  2. each part at its rate
  3. the lowest-rated supply
  4. an exempt supply
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Correct answer: A. its principal supply

Section 8(a) treats a composite supply as a supply of its principal supply for tax liability.

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More Taxation topics

Aggregation of Income, Set Off of Losses and DeductionsAdvance Tax, TDS and TCSProfits and Gains of Business or ProfessionIncome-tax Basic ConceptsSalariesResidence and Scope of Total IncomeIncome from House PropertyComputation of GST Liability