[amp_mcq option1=”Interstate Supply only” option2=”Interstate supply and Imports” option3=”Exports” option4=”Intrastate sales” correct=”option2″]<\/p>\n
The correct answer is: B. Interstate supply and Imports.<\/p>\n
Integrated Goods and Services Tax (IGST) is a tax levied on inter-state supply of goods and services. It is also levied on imports of goods and services. IGST is a composite tax, which means that it includes both Central GST (CGST) and State GST (SGST). The rate of IGST is 12%.<\/p>\n
Intrastate supply of goods and services is not subject to IGST. It is subject to CGST and SGST. The rates of CGST and SGST are 5% and 5% respectively.<\/p>\n
Exports of goods and services are also not subject to IGST. They are subject to a special tax called Export Duty. The rate of Export Duty varies depending on the type of goods or services being exported.<\/p>\n
A. Interstate Supply only is incorrect because IGST is also levied on imports.<\/p>\n
C. Exports is incorrect because exports are not subject to IGST.<\/p>\n
D. Intrastate sales is incorrect because intrastate supply of goods and services is subject to CGST and SGST, not IGST.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Interstate Supply only” option2=”Interstate supply and Imports” option3=”Exports” option4=”Intrastate sales” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[704],"tags":[],"class_list":["post-34544","post","type-post","status-publish","format-standard","hentry","category-legal-aspects-of-business","no-featured-image-padding"],"yoast_head":"\n