The 'GST Suvidha Providers' (GSPs) are: MCQ with Answer and Explanation

The 'GST Suvidha Providers' (GSPs) are:
A. Government agencies
B. Private entities authorised to provide GST compliance services
C. Tax officials
D. Banks
Answer: Option B
Solution (By JKSSB Mock Tests)
GSPs facilitate taxpayers in filing returns and other GST compliances via software.

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1
A: Financial management aims to maximize shareholder wealth. R: Financial management focuses solely on raising funds. Choose the correct option.
A. A is true but R is false
B. Both A and R are true but R is NOT the correct explanation of A
C. Both A and R are true and R is the correct explanation of A
D. A is false but R is true

Correct Answer: Option A


Explanation:
The primary objective of financial management is to maximize shareholder wealth. However, it involves not just raising funds, but also their effective utilization, dividend decisions, and working capital management. A is true, R is false.

Question #2
The 'Export Oriented Unit' (EOU) scheme provides:
A. No benefit
B. Income tax holiday only
C. Customs and excise duty exemption on imports and domestic procurement
D. GST exemption only

Correct Answer: Option C


Explanation:
EOUs enjoy various tax and duty exemptions to boost exports.

Question #3
In a non-profit organization, the excess of income over expenditure is called:
A. Net income
B. Profit
C. Net revenue
D. Surplus

Correct Answer: Option D


Explanation:
Non-profit organizations use the term surplus (not profit) for excess of income over expenditure, shown in Income and Expenditure Account.