What does the term "Reverse Charge" refer to in the context of GST?

The recipient of goods or services pays the tax to the government instead of the supplier.

The supplier of goods or services pays the tax to the government instead of the recipient.

Both the supplier and recipient jointly pay the tax to the government.

The tax is exempted for a specific category of supply.

What is the definition of "Electronic Commerce Operator" (ECO) under GST?

ECO is any person who uses electronic devices for business operations.

ECO is any digital or electronic platform used for e-commerce owned, operated, or managed by any person.

ECO is a tax authority responsible for collecting GST on electronic transactions.

ECO is a type of digital currency used for online payments.

Which of the following statements regarding the levy of IGST is correct?

IGST can be levied at a maximum rate of 28%.

IGST is always collected by the State government.

The recipient of goods or services pays IGST to the Central government.

IGST is not applicable to inter-state supply of goods or services.

What is the purpose of the "Electronic Commerce Operator" (ECO) paying IGST in certain cases?

To reduce the tax burden on consumers

To simplify the tax collection process

To shift the tax liability from suppliers to ECOs

To encourage more businesses to operate online

What is the purpose of deferring the provisions of reverse charge under the CGST and IGST Acts?

To increase tax revenue for the government

To simplify the GST compliance process

To provide relief to small businesses

To discourage online transactions

What is the definition of "Goods" under the Central Goods and Services Act, 2017 (CGST Act, 2017)?

Goods include only materials and commodities.

Goods include all materials, commodities, and articles.

Goods include services and commodities.

Goods include immovable property and securities.

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