Q41: When can a registered person avail credit on inputs
- A. On receipt of goods
- B. On receipt of documents
- C. Both
- D. None of the above
Answer
Answer C. Both
Q42: In case supplier had deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?
- A. Yes, it will be automatically show in recipient monthly returns
- B. No, as one of the conditions of section 16(2) is not fulfilled
- C. Yes, if the receiver can prove later that goods are received subsequently
- D. None of the above
Answer
Answer B. No, as one of the conditions of section 16(2) is not fulfilled
Q43: Tax collected at source at the rate of 2% is applicable in the case of
- A. Any GST dealer
- C. Government Departments
- D. E-Commerce operators
- E. Composite dealers
Answer
Answer C. Government Departments
Q44: Goods which get input tax credit without being liable to collect output tax is called
- A. Exempt goods
- B. White goods
- C. Sin goods
- D. Zero rated goods
Answer
Answer D. Zero rated goods
Q45: Input tax credit on capital goods and Inputs can be availed in
- A. In thirty six installments
- B. In twelve installments
- C. In one installment
- D. In six installment
Answer
Answer C. In one installment
Q46: Provisional Input tax credit can be utilized against
- A. Any tax liability
- B. Self-assessed output tax liability
- C. Interest and Penalty
- D. Fine
Answer
Answer B. Self-assessed output tax liability
Q47: The council can take a decision only if there is
- A. Three – Fourth majority
- B. Two-Third majority
- C. Simple majority
- D. 60% majority
Answer
Answer A. Three – Fourth majority
Q48: Tax deducted at source at the rate of 2% is applicable in the case of
- A. Any GST dealer
- B. Government departments
- C. E-Commerce operators
- D. Composite dealers
Answer
Answer B. Government departments
Q49: The time limit to pay the value of supply with taxes
- A. 90 days
- B. 6 months
- C. 180 days
- D. 365 days
Answer
Answer C. 180 days
Q50: Banking company or financial institution have an option of claiming ITC
- A. Actual credit or 50% credit
- B. Only 50% credit
- C. Only actual credit
- D. Actual credit and 50% credit
Answer
Answer A. Actual credit or 50% credit
Q51: Examples for Deemed supply of services
- A. Renting of Immovable property and temporary transfer of intellectual property right
- B. Works contract
- C. Services of Aggregators
- D. All the above
Answer
Answer D. All the above
Q52: Time limit for issuing a certificate of TDS deduction
- A. Within 10 days of the TDS remittance
- B. Within 5 days of the TDs remittance
- C. Within 15 days of the TDS remittance
- D. Ask and when the deducted asks for the same
Answer
Answer B. Within 5 days of the TDs remittance
Q53: The TDS Remittance of the Deductor will be shown in the
- A. Electronic ITC ledger of the deductor
- B. Electronic ITC ledger of the deductee
- C. Electronic cash ledger of the deductor
- D. Electronic cash ledger of the deductee
Answer
Answer D. Electronic cash ledger of the deductee
Q54: Additional demand made in respect of the earlier laws after the implementation of the GST will be an amount recoverable under
- A. Earlier laws
- B. GST
- C. Any of the above
- D. Subject to the option given by the Dealer
Answer
Answer B. GST
Q55: Transfer of possession of goods is
- A. Actual tax point
- B. Basic tax point
- C. Either of the above
- D. None of the above
Answer
Answer B. Basic tax point
Q56: UTGST is applicable when
- A. Sold from Union Territory
- B. Goods are purchased by Central Government
- C. Sold from one union territory to another union territory
- D. There is interstate supply
Answer
Answer A. Sold from Union Territory
Q57: Goods and services tax is a tax system
- A. Single point tax
- B. Multipoint tax
- C. Regressive tax
- D. None of these
Answer
Answer B. Multipoint tax
Q58: Introduction of GST affects the revenue of
- A. Consuming states
- B. Manufacturing states
- C. All the states
- D. Central Government
Answer
Answer B. Manufacturing states
Q59: Dealers whose annual turnover between Rs. 1.5 crore and Rs. 5 crore need to use
- A. Two-digit HSN Code
- B. Four digit HSN Code
- C. Eight digit HSN Code
- D. HSN code not required
Answer
Answer A. Two-digit HSN Code
Q60: Dealers with annual turnover of Rs. 5 crore and above must use
- A. Two-Digit HSN Code
- B. Four Digit HSN Code
- C. Eight Digit HSN code
- D. HSN Code not required
Answer
Answer B. Four Digit HSN Code
Q61: Under GST law compensation cess is applicable on
- A. Luxury articles and demerit goods
- B. All goods
- C. Petroleum products and alcohol
- D. Consumer goods
Answer
Answer A. Luxury articles and demerit goods
Q62: GST can be collected by
- A. Any registered dealer
- B. Any GST dealer
- C. Any service provider
- D. Any dealer
Answer
Answer B. Any GST dealer
Q63: Under GST Law “Aggregate Turnover” of a dealer is determined
- A. State wise
- B. All India basis
- C. Shop wise
- D. None of these
Answer
Answer B. All India basis
Q64: Under GST “Agriculturist” means
- A. Individual or Hindu Undivided Family
- B. Individual only
- C. Any entity engaged in agricultural operations
- D. Anyone who sells agricultural produces
Answer
Answer A. Individual or Hindu Undivided Family
Q65: Business vertical refers to
- A. Joint venture
- B. Different business within a group
- C. Competitors in business
- D. None of these
Answer
Answer B. Different business within a group
Q66: Goods which are used or intended to be used in the course or furtherance of business are
- A. Demerit Goods
- B. Business goods
- C. Capital goods
- D. None of these
Answer
Answer C. Capital goods
Q67: A person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business is
- A. Business plan
- B. Casual taxable person
- C. Composite dealer
- D. Non-resident dealer
Answer
Answer B. Casual taxable person
Q68: Supply of two or more taxable supply naturally bundled and supplied is called
- A. Mixed supply
- B. Common supply
- C. Continuous supply
- D. Composite supply
Answer
Answer D. Composite supply
Q69: Supply of goods provided, or agreed to be provided, continuously or on recurrent basis under a contract is
- A. Mixed supply
- B. Composite supply
- C. Common supply
- D. Continuous supply
Answer
Answer D. Continuous supply
Q70: In the GST council meetings votes of all the State government taken together shall have a weightage of
- A. 1/3 of votes
- B. 1/2 of votes
- C. 2/3 of votes
- D. None of these
Answer
Answer C. 2/3 of votes
Q71: Integrated goods and services tax act is applicable to
- A. All the states
- B. All the union territories
- C. The Whole of India
- D. All the states except Jammu and Kashmir
Answer
Answer C. The Whole of India
Q72: The maximum limit of IGST rate in the Act is
- A. 18%
- B. 28%
- C. 40%
- D. 100%
Answer
Answer C. 40%
Q73: The place of supply of telecommunication services shall be
- A. The location where connection is installed
- B. Place of office of the service provider
- C. Place of payment
- D. Place of supply not relevant
Answer
Answer A. The location where connection is installed
Q74: A registered person making Zero rated supply shall be
- A. Eligible to claim refund
- B. Not eligible for refund
- C. Subject to reverse charge
- D. None of these
Answer
Answer A. Eligible to claim refund
Q75: Which of the following is included while computing the value of supply of goods under GST
- A. Price of the goods
- B. Packing charges of the goods
- C. Tax levied by Municipal authority on sale of the goods
- D. All the above
Answer
Answer D. All the above
Q76: Half share of IGST moves always to
- A. Selling state
- B. Buying state
- C. Equally to buying state and selling state
- D. None of these
Answer
Answer B. Buying state
Q77: A registered person making Zero rate supply shall be
- A. Eligible to claim refund
- B. Not eligible for refund
- C. Subject to reverse charge
- D. None of these
Answer
Answer A. Eligible to claim refund
Q78: Lease, tenancy, easement or license to occupy land is a supply of
- A. Goods
- B. Services
- C. Both goods and services
- D. None
Answer
Answer B. Services
Q79: Transfer of the title in goods is a supply of
- A. Goods
- B. Services
- C. Both goods and services
- D. None
Answer
Answer A. Goods
Q80: Construction of a complex, building, civil structure intended for sale to a buyer wholly or partly is supply of
- A. Goods
- B. Services
- C. Both goods and services
- D. None
Answer
Answer B. Services
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