2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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For digital transactions the GST Council announced a cash back of
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20 %
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15 %
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45 %
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35 %
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Explanation:
Detailed explanation-1: -The cashback is 20% of the GST component with a cap of Rs 100 and this will be credited to the Bank account of the consumer linked to the card or User ID.
Detailed explanation-2: -Gift, cash-back vouchers taxable as goods, to be liable for 18% GST: AAR | Mint.
Detailed explanation-3: -The government has been charging a tax on digital payments while promoting digital payments. It is high time that GST on payments is removed as it is tantamount to a tax on a tax paid purchase and inhibits the growth of digital payments.
Detailed explanation-4: -Union Budget 2022 | 30% Tax On All Digital Assets + 1% TDS: All You Want To Know.
There is 1 question to complete.