GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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State which statement is True :
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Service tax is always paid by the service provider
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Service tax is to be Paid at the stage of rendering the service
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Service tax is payable on the money which is received in advance
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In case the payment of service tax is made by cheque, the date of payment is the date on which the cheque is encased by the bank
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Explanation:
Detailed explanation-1: -If a service was provided, then the service provider become liable to pay service tax. On the other hand, as per the regulation, a service provider is also liable to pay service tax on service agreed to be provided. So, services which have only been agreed to be provided but are not yet provided are also taxable .
Detailed explanation-2: -Hence option 4 is correct. The Goods and Services Tax or GST is a major indirect tax reform introduced in India by integrating the major indirect taxes of the centre and states. It is a comprehensive tax levied on the manufacture, sale, and consumption of goods and services.
There is 1 question to complete.