GST Auditor Interview Questions and Answers

GST rates on luxury goods and food items vary depending on the category they fall under.

• GST on luxury goods ranges from 18% to 28% depending on the item.

• GST on food items varies depending on whether they are packaged or not, and whether they fall under the exempted or non-exempted category.

• Processed foods generally attract a higher GST rate compared to unprocessed foods.

• Some food items like milk, fruits, and vegetables are exempted from GST.

• GST rates on alcoholic beverages ar...read more

GST stands for Goods and Services Tax.

• GST is a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout India.

• It was implemented on 1st July 2017 to replace multiple indirect taxes levied by the central and state governments.

• GST has three components - CGST, SGST, and IGST - which are levied at different rates depending on the type of goods or services.

• GST has simplified the tax structure and made it easier for businesses to comply ...read more