Question

Which one of the following is not true in respect of Goods and Services Tax (GST)?

• A. The transaction in securities shall not be liable to GST
• B. The purchase of edible oils is liable to GST
• C. The purchase of vehicles is liable to GST
• D. The purchase of gift items from a shop is liable to GST

Hint:

GST applies to goods/services, but not typically to securities trading.

Answer 1

The Correct Option is A

Concept: GST applicability. Explanation: GST applies to most goods and services, but securities are generally outside GST’s scope and instead fall under other financial regulations. Hence, statement (A) is considered not true in the context of GST applicability in this question.