Tag: business services

Quizzes (20) Questions (2)

Questions Related to business services

Multiple choice organization of commerce and management business services importance, types and documentation in warehousing meaning of warehousing and warehousing warehousing

Quotation on GIF basis included _________.

  1. cost of product

  2. expenses incurred on insurance

  3. expenses incurred on freight

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

GIF (Goods Insurance and Freight) is an older term similar to CIF (Cost, Insurance, and Freight). It includes the cost of the product, the insurance premium, and the freight charges for shipping.

Multiple choice organization of commerce and management business services importance, types and documentation in warehousing meaning of warehousing and warehousing warehousing

Central Sales Tax _______________.

  1. Varies

  2. Fixed to 4%

  3. Fixed to 11%

  4. Various from 4% to 10%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Historically, under the Central Sales Tax Act in India, the concessional rate for inter-state sales against Form C was fixed at 4%. While tax laws have evolved, this is the standard textbook answer for this specific historical context.