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B Com Exam  >  B Com Tests  >  Test: Place of Supply - B Com MCQ

Test: Place of Supply - B Com MCQ


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10 Questions MCQ Test - Test: Place of Supply

Test: Place of Supply for B Com 2024 is part of B Com preparation. The Test: Place of Supply questions and answers have been prepared according to the B Com exam syllabus.The Test: Place of Supply MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Place of Supply below.
Solutions of Test: Place of Supply questions in English are available as part of our course for B Com & Test: Place of Supply solutions in Hindi for B Com course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Place of Supply | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study for B Com Exam | Download free PDF with solutions
Test: Place of Supply - Question 1
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What is the general principle for determining the place of supply for goods under GST when there is no movement of goods?

Detailed Solution for Test: Place of Supply - Question 1
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.
Test: Place of Supply - Question 2
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What is the determining factor for the place of supply in the case of services related to immovable property?

Detailed Solution for Test: Place of Supply - Question 2
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.
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Test: Place of Supply - Question 3
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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?

Detailed Solution for Test: Place of Supply - Question 3
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.
Test: Place of Supply - Question 4
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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?
Detailed Solution for Test: Place of Supply - Question 4
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.
Test: Place of Supply - Question 5
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What is the place of supply for restaurant services under GST?
Detailed Solution for Test: Place of Supply - Question 5
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.
Test: Place of Supply - Question 6
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For transportation services, what is the usual basis for determining the place of supply?
Detailed Solution for Test: Place of Supply - Question 6
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.
Test: Place of Supply - Question 7
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In the case of telecom services, what is used as the basis for determining the place of supply?
Detailed Solution for Test: Place of Supply - Question 7
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.
Test: Place of Supply - Question 8
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What is the place of supply for banking, financial, and insurance services under GST?
Detailed Solution for Test: Place of Supply - Question 8
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.
Test: Place of Supply - Question 9
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What is the significance of determining the time of supply related to interest, late fees, or penalty in GST?
Detailed Solution for Test: Place of Supply - Question 9
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.
Test: Place of Supply - Question 10
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What is the purpose of determining the "transactional value" in the valuation of taxable supply of goods and services under GST?
Detailed Solution for Test: Place of Supply - Question 10
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.
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Important Questions for Place of Supply

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Place of Supply MCQs with Answers

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