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All questions of Place of Supply for B Com Exam
A supplier located in Mumbai provides services to a recipient in Chennai, where the services are related to immovable property located in Hyderabad. What is the place of supply for these services?- a)Mumbai
- b)Chennai
- c)Hyderabad
- d)Delhi
Correct answer is option 'C'. Can you explain this answer?
a)
Mumbai
b)
Chennai
c)
Hyderabad
d)
Delhi
|
Dev Patel answered |
The place of supply for services related to immovable property is the location of the immovable property itself. In this case, the immovable property is in Hyderabad, so the place of supply is Hyderabad.
For transportation services, what is the usual basis for determining the place of supply?- a)Location of the transporter
- b)Location of the goods
- c)Location of the nearest GST office
- d)Location of the recipient
Correct answer is option 'B'. Can you explain this answer?
a)
Location of the transporter
b)
Location of the goods
c)
Location of the nearest GST office
d)
Location of the recipient
|
|
Dev Patel answered |
The usual basis for determining the place of supply for transportation services is the location of the goods being transported. This helps in aligning the taxation with the actual movement of goods.
What is the place of supply for banking, financial, and insurance services under GST?- a)Location of the bank or financial institution
- b)Location of the customer's registered office
- c)Location of the nearest GST office
- d)Location of the bank's headquarters
Correct answer is option 'B'. Can you explain this answer?
a)
Location of the bank or financial institution
b)
Location of the customer's registered office
c)
Location of the nearest GST office
d)
Location of the bank's headquarters
|
|
Dev Patel answered |
The place of supply for banking, financial, and insurance services under GST is the location of the customer's registered office. This helps in determining the GST liability based on where the customer is located.
What is the significance of determining the time of supply related to interest, late fees, or penalty in GST?- a)To encourage early payment of taxes
- b)To simplify GST compliance
- c)To ensure proper accounting of additional charges
- d)To determine the due date for filing GST returns
Correct answer is option 'C'. Can you explain this answer?
a)
To encourage early payment of taxes
b)
To simplify GST compliance
c)
To ensure proper accounting of additional charges
d)
To determine the due date for filing GST returns
|
|
Dev Patel answered |
Determining the time of supply related to interest, late fees, or penalty in GST is significant because it helps in proper accounting of these additional charges. It ensures that the GST liability on such amounts is clear and can be discharged correctly.
In the case of services provided to an unregistered dealer where the location of the service recipient is not available, what is used as the place of supply?- a)Location of the service provider
- b)Location of the nearest GST office
- c)Location of the service recipient's registered office
- d)Location of the service recipient's billing address
Correct answer is option 'A'. Can you explain this answer?
a)
Location of the service provider
b)
Location of the nearest GST office
c)
Location of the service recipient's registered office
d)
Location of the service recipient's billing address
|
|
Dev Patel answered |
When the location of the service recipient is not available, the place of supply for services provided to an unregistered dealer is determined based on the location of the service provider. This ensures that there is a basis for taxation even when the recipient's location is unknown.
What is the general principle for determining the place of supply for goods under GST when there is no movement of goods?- a)The place of supply is the location of the supplier.
- b)The place of supply is the location of the recipient.
- c)The place of supply is the location of the goods at the time of delivery to the recipient.
- d)The place of supply is the location of the nearest GST office.
Correct answer is option 'C'. Can you explain this answer?
a)
The place of supply is the location of the supplier.
b)
The place of supply is the location of the recipient.
c)
The place of supply is the location of the goods at the time of delivery to the recipient.
d)
The place of supply is the location of the nearest GST office.
|
|
Dev Patel answered |
When there is no movement of goods, the place of supply for goods under GST is the location of the goods at the time of delivery to the recipient. This ensures that the place of supply is determined even in cases where there is no physical movement involved.
What is the place of supply for restaurant services under GST?- a)Location of the restaurant
- b)Location of the customer
- c)Location of the nearest GST office
- d)Location of the restaurant's kitchen
Correct answer is option 'B'. Can you explain this answer?
a)
Location of the restaurant
b)
Location of the customer
c)
Location of the nearest GST office
d)
Location of the restaurant's kitchen
|
|
Dev Patel answered |
The place of supply for restaurant services under GST is the location of the customer. This means that the GST applicable is determined based on where the customer is situated.
In the case of telecom services, what is used as the basis for determining the place of supply?- a)Location of the telecom service provider
- b)Location of the customer's billing address
- c)Location of the nearest GST office
- d)Location of the customer's registered office
Correct answer is option 'B'. Can you explain this answer?
a)
Location of the telecom service provider
b)
Location of the customer's billing address
c)
Location of the nearest GST office
d)
Location of the customer's registered office
|
|
Dev Patel answered |
For telecom services, the place of supply is determined based on the location of the customer's billing address. This ensures that the GST is levied where the customer receives the service.
What is the determining factor for the place of supply in the case of services related to immovable property?- a)Location of the service provider
- b)Location of the service recipient
- c)Location of the immovable property
- d)Location of the nearest GST office
Correct answer is option 'C'. Can you explain this answer?
a)
Location of the service provider
b)
Location of the service recipient
c)
Location of the immovable property
d)
Location of the nearest GST office
|
|
Dev Patel answered |
In the case of services related to immovable property, the determining factor for the place of supply is the location of the immovable property itself. This ensures that the place of supply is directly linked to the property being serviced.
What is the purpose of determining the "transactional value" in the valuation of taxable supply of goods and services under GST?- a)To ensure that GST is charged on the full value of supply
- b)To calculate the profit margin for the supplier
- c)To simplify the GST calculation process
- d)To determine the time of supply for goods and services
Correct answer is option 'A'. Can you explain this answer?
a)
To ensure that GST is charged on the full value of supply
b)
To calculate the profit margin for the supplier
c)
To simplify the GST calculation process
d)
To determine the time of supply for goods and services
|
|
Dev Patel answered |
The purpose of determining the "transactional value" in the valuation of taxable supply of goods and services under GST is to ensure that GST is charged on the full value of the supply, especially in cases where parties are related or where a reasonable value may not be charged. This helps in proper tax collection.
Chapter doubts & questions for Place of Supply - Goods and Services Tax (GST) 2025 is part of B Com exam preparation. The chapters have been prepared according to the B Com exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for B Com 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.
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Goods and Services Tax (GST)
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