Explore topic-wise MCQs in Bachelor of Business Administration (BBA).

This section includes 14 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Business Administration (BBA) knowledge and support exam preparation. Choose a topic below to get started.

1.

Which of the following are benefits of GST?1) Creation of unified national market2) Boost to Make in India' initiative3) Reduction of compliance burden on taxpayers4) Buoyancy to the Government Revenue5) Elimination of multiple taxes and double taxationSelect the correct answer from the options given below

A. 1, 3, 4 & 5
B. 2, 3, 4 & 5
C. 1, 2, 4 and 5
D. 1, 2, 3, 4 and 5
Answer» D. 1, 2, 3, 4 and 5
Discussion
2.

. Which of the following forms part of transaction value?1) GST compensation cess2) Payments made to third parties by the recipient on behalf of the supplier in relation to the supply3) Entertainment tax levied by local authority4) Commission paid to an agent and recovered from the recipient5) Inspection charges at recipient s site6) Charges for delay in payment waived off by supplierState the correct answer from the options given below

A. 1, 2, 3, 4 & 5
B. 2, 3, 4, 5 & 6
C. 2, 3, 4 & 5
D. All of the above
Answer» E.
Discussion
3.

. What is the time of supply of service if the invoice is issued within 30 days from the date of provision of service?

A. Date of issue of invoice
B. Date on which the supplier receives payment
C. Date of provision of service
D. Earlier of (a) & (b)
Answer» E.
Discussion
4.

. What is the time of supply of services where the supplier is liable to pay tax under forward charge and the invoice is not issued within prescribed period under section 31(2)?

A. Date of issue of invoice
B. Date of completion of provision of services
C. Date of receipt of payment
D. Date of completion of provision of service or date of receipt of payment; whichever is earlier.
Answer» E.
Discussion
5.

. The registration certificate granted to Non-resident taxable person is valid for days from the effective date of registration.

A. 30
B. 60
C. 90
D. 120
Answer» D. 120
Discussion
6.

. Which of the following is/are included in definition of Goods as defined under section 2(52) of the CGST Act, 2017- I. MoneyII. Actionable claimIII. SecurityIV. Growing cropsSelect the correct answer from the options given below

A. IV only
B. II & III
C. II & IV
D. I & II
Answer» D. I & II
Discussion
7.

. Who is authorised to conduct audit under section 35(5) of the CGST Act, 2017?1. Chartered accountant2. Any person having master degree in finance of recognised university3. Cost accountant4. Company secretarySelect the correct answers from the options given below

A. 1, 3 and 4
B. 4, 2, 3 and 1
C. 1 only
D. 1 or 3 only
Answer» E.
Discussion
8.

. What is time of supply of goods, in case of supplier opting for composition levy under Section 10 of the CGST Act, 2017?

A. Date of issue of invoice
B. Date of receipt of consideration by the supplier
C. Latter of (a) & (b)
D. Earlier of (a) & (b)
Answer» E.
Discussion
9.

. Which of the following shall be discharged first, while discharging liability of a taxable person?

A. All dues related to previous tax period
B. All dues related to current tax period
C. Demand raised under section 73 and 74
D. No such condition is mandatory
Answer» B. All dues related to current tax period
Discussion
10.

Which form is to be used for registration?

A. form GSTR-1A
B. form GSTR -2
C. form GST REG-01
D. form GAT REG
Answer» D. form GAT REG
Discussion
11.

. What is the time of supply of vouchers when the supply with respect to the voucher is identifiable?

A. Date of issue of voucher
B. Date of redemption of voucher
C. Earlier of (a) & (b)
D. (a) & (b) whichever is later
Answer» B. Date of redemption of voucher
Discussion
12.

. What is the time of supply of vouchers when the supply with respect to the voucher is not identifiable?

A. Date of issue of voucher
B. Date of redemption of voucher
C. Earlier of (a) & (b)
D. (a) & (b) whichever is later
Answer» C. Earlier of (a) & (b)
Discussion
13.

. Input tax credit as self-assessed in the return of the registered person shall be credited to which of the following ledger?

A. Electronic liability register
B. Electronic credit ledger
C. Electronic cash ledger
D. All of the above
Answer» C. Electronic cash ledger
Discussion
14.

. As per section 25 of CGST Act, 2017, a casual taxable person shall apply for registration at least _____ prior to the commencement of business.

A. 5 days
B. 10 days
C. 7 days
D. 30 days
Answer» B. 10 days
Discussion