T. Y. B. Com. G.S.T Semester VI Important MCQs
Multiple Choice Questions:
1. The
subsuming of taxes should result in free flow of __________ in intra and
inter-state levels.
(a) Tax credit
(b) Goods and services
(c) Revenue
(d) Both (a) and (b)
2. State Taxes
to be subsumed under GST include __________.
(a) State VAT
(b) Purchase Tax
(c) Entry Tax
(d) All the above
3. __________
is a tax that is shifted from one taxpayer to another.
(a) Direct Tax
(b) Indirect Tax
(c) Entry Tax
(d) GST
4. Central
& excise duty shall be levied in addition to GST on __________.
(a) Petroleum products
(b) Alcohol products
(c) Tobacco and tobacco
products
(d) Alcohol for human consumption
5. In area
inside the sea between 12 nautical miles to 200 nautical miles, __________ will
be payable.
(a) CGST
(b) SGST
(c) IGST
(d) both (a) and (b)
6. What is the threshold limit of turnover in the preceding financial year for opting to pay tax under composition scheme for special category states __________
(a) Rs 75 Lakh
(b) Rs 20 Lakh
(c) Rs 10 Lakh
(d) Rs 50 Lakh
7. Supplier
__________ person acting as an agent.
(a) Includes
(b) Excludes
(c) Means
(d) is
8. Where
supply is made from place other than place of business, location of supplier of
services is __________.
(a) Location of place of business
(b) Location of fixed
establishment
(c) Location of establishment most directly concerned
(d) Location of usual place of residence of supplier
9. Place of
business includes __________.
(a) warehouse
(b) Godown
(c) Any place where taxable person stores his goods
(d) All the three
10. Supply of
goods imported into territory of India, shall be treated as __________ till
they cross custom frontiers of India.
(a) Intra-state supplies
(b) Inter-state
supplies
(c) Import supplies
(d) Exempt supplies
11. M/s. ABC of
Gujarat supplies goods to M/s. XYZ of Delhi, this will classify as
__________.
(a) Intra state supply
(b) Inter-state
supplies
(c) Import supplies
(d) Deemed supply
12. Where
location of supplier and place of supply are same state, it is treated as
__________.
(a) Intra-state supply
(b) Inter-state supply
(c) Domestic supply
(d) either (a) or (c)
13. __________
means bringing goods into India from a place outside India.
a) Intra-state supply
b) Inter-state supply
c) Import of goods
d) Import of services
14. __________
means taking goods out of India to a place outside India.
a) Intra-state supply
b) Inter-state supply
c) Export of services
d) Export of goods
15. Services
provided in relation to immovable property where services are directly related
to immovable property, the place of supply is the location where immovable
property is __________.
a) located
b) intended to be located
c) either (a) or (b)
d) neither a or b
16. Where
services in relation to training and performance appraisal to a registered
person are provided, place of supply is __________.
a) location of such
registered person
b) location of supplier
c) location where training is provided
d) location of buyer
17. For
telecommunication services, place of supply is __________.
a) Location where
telecommunication line is installed for receipt of services.
b) Location of recipient for registered persons.
c) Location of supplier in any other case.
d) Either (b) or (c)
18. For
Advertisement services provided to __________, place of supply shall be taken
as being in each of such states / union territories.
a) Central Government
b) State Government
c) A statutory body
d) All of the above
19. Tax invoice
must be issued by _________ on supplies made by him.
a) Every supplier
b) Every taxable person
c) Every registered
person not paying tax under composition scheme
d) Buyer
20. An invoice
must be issued __________.
a) at the time of
removal of goods
b) on transfer of risk
c) on receipt of payment
d) on receipt of order
21. Consideration
in relation to supply of goods or services or both excludes __________.
a) subsidy given by Central Government
b) subsidy given by State Government
c) Deposit unless appropriated by supplier
d) all of the above
22. When can the transaction value be rejected for computation of value of supply __________
a) When the buyer and seller are related and price is not the
sole consideration
b) When the buyer and
seller are related or price is not the sole consideration
c) It can never be rejected
d) When the goods are sold at very low margins
23. Persons shall be deemed to be “related persons” if any person directly or indirectly owns, controls or holds __________ or more of the outstanding voting stock or shares of both of them;
a) 25%
b) 26%
c) 51%
d) 0%
24. Persons shall be deemed to be “related persons” if __________
a) such persons are officers or directors of one another’s
businesses
b) such persons are legally recognized partners in business
c) such persons are employer and employee;
d) All of the above
25. What deductions are allowed from the transaction value __________
a) Discounts offered to
customers, subject to conditions
b) Packing Charges, subject to conditions
c) Amount paid by customer on behalf of the supplier, subject
to conditions
d) Freight charges incurred by the supplier, subject to
conditions
26. The term
“used in the course or furtherance of business” means__________
a) It should be directly co-related to output supply
b) It is planned to use in the course of business
c) It is used or
intended to be used in the course of business
d) It is used in the course of business for making outward
supply
27. Under section
16(2) of CGST Act __________ conditions are to be fulfilled for the entitlement
of credit?
a) All four conditions
b) Any two conditions
c) Conditions not specified
d) any one condition
28. Whether
credit on inputs should be availed based on receipt of documents or receipt of
goods __________
a) Receipt of goods
b) Receipt of Documents
c) Both
d) Either receipt of documents or Receipt of goods
29. In case
supplier has deposited the taxes but the receiver has not received the
documents, is receiver entitled to avail credit __________
a) Yes, it will be auto populated in recipient monthly returns
b) No as one of the
conditions of 16(2) is not fulfilled
c) Yes, if the receiver can prove later that documents are
received subsequently
d) Yes, next year
30. The time
limit to pay the value of supply with taxes to avail the input tax credit __________
a) Three months
b) Six months
c) One hundred and
eighty days
d) Till the date of filling of Annual Return
31. Whether
depreciation on tax component of capital goods and Plant and Machinery and
whether input tax credit is Permissible __________
a) Yes
b) No
c) Input tax credit is
eligible if depreciation on tax component is not availed
d) either a or b
32. __________
is the maximum time limit to claim the Input tax credit.
a) Till the date of filing annual return
b) Due date of September month which is following the
financial year
c) Earliest of (a) or
(b)
d) Later of (a) or (b)
33. ITC can be availed
on __________
a) Possession of prescribed invoice/debit note
b) Receipt of goods/services
c) Tax on such supply has been paid to government and return
being furnished by the supplier
d) Fulfilling all the
above conditions
34. ITC can be
claimed by a registered person for __________
a) Taxable supplies for
business purpose
b) Taxable supplies for non-business purpose
c) Exempted supplies
d) Non-taxable supplies
35. The
Government may mandate __________ to deduct tax at source.
a) department / establishment of the Central Government
b) department / establishment of the State Government
c) local authority
d) any of the above
36. Tax
deductor/collector has to submit application for grant of registration in Form
__________.
a) GST REG-07
b) GST REG-06
c) GST REG-08
d) GST REG-09
37. Registration
certificate is issued to Tax deductor / collector in Form __________ within 3
working days from the date of submission of the application.
a) GST REG-07
b) GST REG-06
c) GST REG-08
d) GST REG-09
38. __________
means the supply of goods or services or both including digital products over
digital or electronic network.
a) Electronic commerce
b) Electronic commerce operator
c) Digital commerce
d) Digital commerce operator
39. Where an
electronic commerce operator does not have __________ in the taxable territory,
any person representing such e-commerce operator for any purpose in the taxable
territory shall be liable to pay tax
a) Fixed place of business
b) Place of business residence
c) Physical presence
d) Registration
40) Input Tax credit of SGST can be utilized for making payment of __________.
a) SGST and CGST
b) SGST and IGST
c) SGST and UTGST
d) SGST only
41) Payment of every liability by a registered person shall be made by __________.
a) Crediting electronic credit ledger
b) Crediting electronic cash ledger
c) Crediting electronic
liability register
d) Debiting electronic liability register
42) CPIN stands for __________.
a) Common PAN Identification Number
b) Challan paid Identification Number
c) Common Portal
Identification Number
d) Challan Portal Identification Number
43) A person is
liable to be registered under GST LAW where his aggregate turnover
exceeds __________.
a) Rs 40 lakhs
b) Rs 20 lakhs
c) Either (a) or (b) as
the case may be
d) Rs 15 lakhs
44) Aggregate
Turnover includes __________.
a) Taxable supplies
b) Inter-state supplies
c) Export of goods and services
d) All the above
45) A supplier
supplying goods or services in more than one state has to take
__________.
a) Centralized registration for all states
b) Registration in state where his registered / head office is
situated
c) Separate
registration in every state
d) Registration in the state with maximum turnover
46) __________ is
the application form for registration of a Non-Resident Taxable person.
a) GST REG-4
b) GST REG-5
c) GST REG-01
d) GST REG-09
47) In case of
transfer of business, __________ has to obtain a fresh registration.
a) Transferor
b) Transferee
c) Either (a) or (b)
d) seller
48) Any person
engaged exclusively in the business of supplying goods or services or both that
are __________ is not liable for registration under GST LAW.
a) Not liable to tax
b) Wholly exempt from tax
c) Both (a) and (b)
d) taxable
49) __________ is
the application form for registration of casual Taxable person
a) GST REG-4
b) GST REG-5
c) GST REG-01
d) GST REG-09
50) Input Tax credit of CGST can be utilized towards payment of __________.
a) CGST and SGST
b) CGST and UTGST
c) CGST and IGST
d) CGST only
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