Match the column

" Match List - I with List - II

List – I: Contents / Provisions under the Central Goods & Services Tax Act, 2017	List – II: Discussion / Provision in Chapters
A. Levy and collection of Tax	I. Chapter – VI
B. Registration	II. Chapter – III
C. Input Tax credit	III. Chapter – X
D. Payment of Tax	IV. Chapter – V

Codes

Correct option is B

The correct answer is (b) A - II, B - I, C - IV, D - III
The Central Goods and Services Tax (CGST) Act, 2017 is structured into various chapters, each detailing different provisions. The chapters mentioned in List II correspond to the specific provisions outlined in List I as follows:
· Chapter III deals with the Levy and collection of Tax.
· Chapter VI is about Registration.
· Chapter V covers Input Tax Credit.
· Chapter X involves Payment of Tax.
Information Booster
The Central Goods and Services Tax (CGST) Act, 2017 is a comprehensive statute that consolidates the law relating to goods and services tax. It has been designed to bring uniformity and streamline the indirect tax regime in India. Each chapter of the Act is dedicated to specific provisions necessary for the effective implementation and regulation of GST.
· Chapter III: Levy and Collection of Tax – This chapter outlines the principles and mechanisms for levying and collecting GST. It includes the taxable event, which is the supply of goods or services, the applicable rates, and the valuation rules.
· Chapter VI: Registration – This chapter specifies the requirements for registration under GST. Businesses with a turnover exceeding a specified threshold must register as taxable persons. The chapter details the application process, issuance of registration certificates, and the obligations of registered persons.
· Chapter V: Input Tax Credit – This chapter provides the framework for availing Input Tax Credit (ITC). It specifies the conditions under which a registered person can claim ITC for taxes paid on inputs, input services, and capital goods, thus reducing the tax liability on the final output.
· Chapter X: Payment of Tax – This chapter covers the rules for the payment of tax. It includes the due dates, methods of payment, and the procedures for furnishing returns and availing refunds.
Additional Knowledge
· Chapter I: Preliminary – This chapter provides definitions and fundamental principles applicable throughout the Act, such as the scope of supply, place of supply, and the taxable event.
· Chapter II: Administration – This chapter outlines the administrative structure and authorities responsible for the implementation of GST, including the powers and functions of GST officers.
· Chapter IV: Time and Value of Supply – This chapter elaborates on the timing and valuation of taxable supplies. It specifies when a supply is considered to have occurred and the value to be adopted for tax calculation purposes.
· Chapter VII: Tax Invoice, Credit and Debit Notes – This chapter deals with the issuance of tax invoices, credit notes, and debit notes. It sets forth the mandatory details to be included in these documents and the conditions under which they can be issued.