Indirect Tax Associate Interview Questions and Answers

The place of supply for the purchase of immovable property located in Punjab but with supplier and recipient registered in Delhi under GST is Punjab. Place of supply for immovable property is the location of the property In this case, since the property is located in Punjab, the place of supply is Punjab GST will be applicable as per the state where the property is located

VAT is a consumption tax added to the price of goods and services at each stage of the supply chain. VAT = Output Tax - Input Tax Output Tax is the VAT charged on sales of goods and services Input Tax is the VAT paid on purchases of goods and services VAT is typically expressed as a percentage of the total value of the goods or services Example: If the VAT rate is 10% and the selling price of a product is $100, the VAT amount would be $10

VAT is a consumption tax levied on the value added to goods and services at each stage of production and distribution. VAT is a type of indirect tax imposed on the value added to a product or service at each stage of the supply chain. It is ultimately borne by the end consumer, as businesses collect the tax on behalf of the government. VAT rates and rules vary by country, with some goods and services being exempt or zero-rated. Example: If a manufacturer sells a product for ...

The GST rate in Malaysia was 6%. The Goods and Services Tax (GST) rate in Malaysia was 6% before it was replaced by the Sales and Service Tax (SST) in 2018. GST was implemented in Malaysia on April 1, 2015, at a rate of 6% on most goods and services. Certain essential items such as food, public transportation, and healthcare services were either exempted or zero-rated under the GST system.