Q121: Summary assessment under Sec 64 is also called
- A. Self-assessment
- B. Provisional assessment
- C. Best Judgment assessment
- D. Protective assessment
Answer
Answer D. Protective assessment
Q122: Assessment under Sec 62 is called
- A. Self-assessment
- B. Provisional assessment
- C. Best Judgment assessment
- D. Protective assessment
Answer
Answer C. Best Judgment assessment
Q123: Final return in Form GSTR- 10 is relevant in the case of
- A. Input Service Distributors
- B. E-Commerce seller
- C. GST dealers
- D. Cancellation of registration
Answer
Answer D. Cancellation of registration
Q124: Form GSTR- 9 is also called
- A. Annual Return
- B. Monthly Return
- C. Quarterly Return
- D. Half Yearly return
Answer
Answer A. Annual Return
Q125: Form GSTR- 9B is also called
- A. Annual Return
- B. Monthly Return
- C. Quarterly Return
- D. Reconciliation statement
Answer
Answer D. Reconciliation statement
Q126: Maintaining books of accounts in electronic form is
- A. Compulsory
- B. Optional
- C. Compulsory if turnover is more than 1 crore
- D. Compulsory if turnover is more than 10 crore
Answer
Answer B. Optional
Q127: The turnover limit of Rs. 50 Lakh for composition scheme is not applicable to the state of
- A. Himachal Pradesh
- B. Uttarakhand
- C. Assam
- D. None of the above
Answer
Answer B. Uttarakhand
Q128: Where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued
- A. Before/at the time of supply
- B. 6 months from the date of removal
- C. Earlier of (a) or (b)
- D. None of the above
Answer
Answer C. Earlier of (a) or (b)
Q129: Which of the following section makes the provisions relating to Maintenance of “accounts and other records” under the CGST Act 2017?
- A. Section 35
- B. Section 34
- C. Section 36
- D. Section 40
Answer
Answer D. Section 40
Q130: As per section 2(37) of the CGST Act, 2017, “credit note” means a document issued by a registered person under-
- A. Section 34 (1)
- B. Section 35 (1)
- C. Section 36 (2)
- D. Section 37 (3)
Answer
Answer A. Section 34 (1)
Q131: What would be the tax rate applicable in case of composite supply?
- A. Tax rate as applicable on principal supply
- B. Tax rate as applicable on ancillary supply
- C. Tax rate as applicable on respective supply
- D. None of the above
Answer
Answer A. Tax rate as applicable on principal supply
Q132: What are the factors differentiating composite supply & mixed supply?
- A. Nature of bundling i.e. artificial or natural
- B. Existence of principal supply
- C. Both of the above
- D. None of the above
Answer
Answer C. Both of the above
Q133: What would be the tax rate applicable in case of mixed supply?
- A. Tax rate as applicable on supply attracting the lowest rate of tax
- B. Tax rate as applicable on supply attracting the highest rate of tax
- C. Tax @ 28%
- D. None of the above
Answer
Answer B. Tax rate as applicable on supply attracting the highest rate of tax
Q134: ___Supply shall attract IGST?
- A. Intra-State
- B. Inter-State
- C. Both
Answer
Answer B. Inter-State
Q135: Is there any ceiling limit prescribed on the rate under IGST?
- A. 14%
- B. 40%
- C. 26%
- D. 30%
Answer
Answer B. 40%
Q136: What if an e-commerce operator having no physical presence in the taxable territory, does not have a representative in the taxable territory?
- A. His will have to discharge his tax liability in foreign currency
- B. He will not be liable to tax
- C. He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf (d) None of the above
Answer
Answer C. He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf (d) None of the above
Q137: Unless and until notified, IGST shall not be levied on the inter-State supply of which of the following: (a) Industrial alcohol
B. Works contract
C. Petroleum
D. None of the above
Answer
Answer C. Petroleum
Q138: Goods deposited in warehouse by filing intobond bill of entry do not attract liability to any customs duty until the date specified in section 15 is reached
- A. True
- B. False
Answer
Answer A. True
Q139: ___of the Constitution provides that no tax shall be levied or collected except by authority of law?
- A. Article 248
- B. Article 245
- C. Article 265
- D. Article 266
Answer
Answer C. Article 265
Q140: What are the taxes levied on an intra-State supply? (a) CGST
B. SGST
C. CGST and SGST
D. UTGST
Answer
Answer C. CGST and SGST
Q141: What is the maximum rate prescribed under CGST Act?
- A. 12%
- B. 28%
- C. 20%
- D. 18%
Answer
Answer C. 20%
Q142: Who will notify the rate of tax to be levied under CGST Act?
- A. Central Government suo moto
- B. State Government suo moto
- C. GST Council suo moto
- D. Central Government as per the recommendations of the GST Council
Answer
Answer D. Central Government as per the recommendations of the GST Council
Q143: Which of the following taxes will be levied on imports?
- A. CGST
- B. SGST
- C. IGST
- D. CGST and SGS
Answer
Answer C. IGST
Q144: What is the maximum rate prescribed under UTGST Act?
- A. 14%
- B. 28%
- C. 20%
- D. 30%
Answer
Answer C. 20%
Q145: What are the supplies on which reverse charge mechanism would apply?
- A. Notified categories of goods or services or both under section 9(3)
- B. Inward supply of goods or services or both from an unregistered dealer under section 9(4)
- C. Both the above
- D. None of the above
Answer
Answer A. Notified categories of goods or services or both under section 9(3)
Q146: Which of the following services are covered under Reverse Charge Mechanism of CGST Act, 2017?
i. Legal Consultancy ii. Goods Transport Agency iii. Labour Supply iv. Rent-a-Cab
A. i & iii
B. i & iv
C. i & ii
D. All the above
Answer
Answer C. i & ii
Q147: In case of GTA services provided to an Individual not registered under GST and not a business entity, liability to pay GST is on
- A. GTA
- B. Recipient
- C. Both
- D. Exempt
Answer
Answer D. Exempt
Q148: In case of sponsorship services provided by Mr. A to M/s AB Ltd., liability to pay GST is on
- A. Mr. A
- B. M/s AB Ltd
- C. Both
- D. None of the above
Answer
Answer B. M/s AB Ltd
Q149: In case of renting of land, inside an Industrial estate, by State Government to a registered manufacturing company, liability to pay GST is on
- A. State Government
- B. Registered Manufacturer Company
- C. Both
- D. None of the Above
Answer
Answer B. Registered Manufacturer Company
Q150: In case of services by an insurance agent to Ms. ABC Insurance Co. Ltd., GST is to be paid by
- A. Insurance Agent
- B. ABC Insurance Co. Ltd
- C. Both
- D. None of the above
Answer
Answer B. ABC Insurance Co. Ltd
Q151: Sitting fees received by director of XYZ Ltd. is liable for GST in the hands of the___
- A. Director
- B. XYZ Ltd
- C. Both of above
- D. None of the above
Answer
Answer B. XYZ Ltd
Q152: Services by a recovery agent to M/s ZZZ Bank Ltd., are liable for GST in the hands of
- A. M/s ZZZ Bank Ltd
- B. Recovery agent
- C. Both the above
- D. None of the above
Answer
Answer A. M/s ZZZ Bank Ltd
Q153: Which one of the following is true?
- A. Entire income of any trust is exempted from GST
- B. Entire income of a registered trust is exempted from GST
- C. Incomes from specified/defined charitable activities of a trust are exempted from GST
- D. Incomes from specified/defined charitable activities of a registered trust (u/s 12AA of Income Tax Act)are exempted from GST
Answer
Answer D. Incomes from specified/defined charitable activities of a registered trust (u/s 12AA of Income Tax Act)are exempted from GST
Q154: Select the correct statement?
- A. Transfer of a going concern wholly is not exempt from GST
- B. Transfer of a going concern is partly exempt from GST
- C. Transfer partly as going concern is exempted from GST
- D. Transfer of a going concern is exempt from GST
Answer
Answer D. Transfer of a going concern is exempt from GST
Q155: Services to a single residential unit is, exempted if:
- A. It is pure labour service only
- B. It is works contract only
- C. It is a part of residential complex only
- D. It is on ground floor without further super structure
Answer
Answer A. It is pure labour service only
Q156: Services by a hotel, inn, guest house, club or campsite are exempted for residential / lodging purposes
- A. If the declared actual tariff for a unit of accommodation is below Rs. 10,000
- B. If the declared actual tariff for a unit of accommodation is below Rs. 1,000
- C. If the declared actual tariff for a unit of accommodation is exactly Rs. 1,000
- D. If the declared actual tariff for a unit of accommodation is above Rs. 1,000
Answer
Answer B. If the declared actual tariff for a unit of accommodation is below Rs. 1,000
Q157: Transportation of agricultural produces, milk, salt and food grain including flour, pulses and rice, ‘relief materials meant for victims of natural or man-made disasters, calamities, accidents or mishap’, newspaper or magazines registered with the Registrar of Newspapers – is exempted
- A. If it is by a goods transport agency
- B. If it is by a rail – within India
- C. If it is by a vessel – within India
- D. If it is by all of the above
Answer
Answer D. If it is by all of the above
Q158: If the aggregate turnover of in FY 2016-17 of M/s ABCD Enterprises, Kanchipuram, Tamil Nadu, India was Rs 18 lakh, exemption is available for the following services rendered to ABCD Enterprises
- A. Arbitral Tribunal services
- B. Legal services by firm of advocates
- C. Legal services by senior advocate
- D. All of the above
Answer
Answer D. All of the above
Q159: The Commissioner may, subject to such conditions and limitations as may be specified in this behalf by him, delegate his powers to
- A. Any other officer who is sub-ordinate to him
- B. Any other officer who is senior to him
- C. Both (a) and (b)
- D. None of the above
Answer
Answer A. Any other officer who is sub-ordinate to him
Q160: The fee for filing an appeal before AAAR by the applicant is
- A. 25000/- under CGST Act
- B. 25000/- under SGST Act
- C. 10000/- each under CGST and SGST Act
- D. 25000/- under any of the above Act
Answer
Answer D. 25000/- under any of the above Act
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