Apple has tonight slightly kicked out an update for GarageBand For iPad, which adds the full support in it for its media streaming API, AirPlay and as well as added the support for copy and paste. The latest update adds the ability in GarageBand 1.0.1 to import AIFF, WAV, CAF audio files and as well as its own audio loops at 16 bit/441.kHz.
While using the new feature of Copy and Paste, GarageBand is now capable for receiving audio files from iOS clipboard via the new feature. To get more detailed instructions on how it works head to the support document
You can paste an audio file from an app that supports copying audio to the clipboard. GarageBand for iPad supports uncompressed audio files with a sample rate of 44.1 kHz and 16-bit depth (the standard for audio CDs).
Audio files copied from another app can be pasted to Audio Recorder or Guitar amp tracks.