Question
A trader in Delhi sells goods to a buyer in Mumbai. The tax charged on this inter-State supply is collected by the Centre and later shared between the Centre and the States. Which tax is charged on such a supply?
Option 2 : Integrated Goods and Services Tax
Detailed Solution
सही उत्तर Integrated Goods and Services Tax है।
Integrated Goods and Services Tax is levied on inter-State supplies of goods and services and is collected by the Centre.
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prepsnap.in • GeneralQuestion:
A trader in Delhi sells goods to a buyer in Mumbai. The tax charged on this inter-State supply is collected by the Centre and later shared between the Centre and the States. Which tax is charged on such a supply?
Correct Answer: Integrated Goods and Services Tax
Integrated Goods and Services Tax is levied on inter-State supplies of goods and services and is collected by the Centre.