1133 + Mcqs in Gst Page 10 McqOptions

451.	The dealers liable to make estimated Advance Tax Remittance to obtain GST Registration are:
A.	ISD
B.	Dealers having Business Verticals
C.	Casual Dealers and Non-Resident Taxable Person
D.	E-Commerce Operator and Aggregator of Branded Services
Answer» D. E-Commerce Operator and Aggregator of Branded Services

Discussion

452.	If a Registration is cancelled, the Electronic Credit Ledger or Electronic Cash Ledger are debited by :
A.	IPT availed on Stock, Semi-Finished Goods or finished Goods and Capital Goods
B.	OPT payable on Such Goods
C.	IPT availed on Stock, Semi-Finished Goods , finished Goods and Capital Goods or OPT payable on Such Goods whichever is Higher
D.	No Tax Liability on Cancellation of Registration
Answer» D. No Tax Liability on Cancellation of Registration

Discussion

453.	In GST, a Dealer can apply for the Revocation of the Cancellation of Registration within:
A.	Within 90 days from the date of the service of the GSTIN Cancellation Order
B.	Within 60 days from the date of the service of the GSTIN Cancellation Order
C.	Within 30 days from the date of the service of the GSTIN Cancellation Order
D.	Within 15 days from the date of the service of the GSTIN Cancellation Order
Answer» D. Within 15 days from the date of the service of the GSTIN Cancellation Order

Discussion

454.	The source Data for migration in to GSTIN in the case of the existing tax payers under VAT and Central Excise will be:
A.	Registration Details available in CENVAT
B.	Registration Details available in VAT
C.	Both (a) and (b) Above
D.	None of the above
Answer» C. Both (a) and (b) Above

Discussion

455.	Every Registered Dealers under the earlier laws will be automatically migrated to GST allowing a Provisional Registration Number and the same will be valid for a period of:
A.	1 Year
B.	9 Months
C.	3 Months
D.	6 Months
Answer» E.

Discussion

456.	In GST, both Central and State Governments should have simultaneous power to levy GST on:
A.	Intra-State Supplies Only
B.	Interstate Supply Only
C.	Import
D.	Both Intra-State and Inter-State Supply
Answer» B. Interstate Supply Only

Discussion

457.	Example for a Supply of Goods in which possession of the goods are transferred. But, the title on the same will be transferred at a future date
A.	Normal Sale of goods
B.	Sales on Approval Basis or Hire Purchases
C.	Rent a Car
D.	None of the Above
Answer» C. Rent a Car

Discussion

458.	Suppose, a Person has a Permit to operate a business venture. But, he refrain from operating such a business venture as per a contract between the other business man in the same line of business for a consideration. Whether it is a Taxable Supply of Service in GST?
A.	Yes
B.	No
C.	A Contract Void Abinitio
D.	Exempted
Answer» B. No

Discussion

459.	Example for a Supply of Goods in which possession of the goods is transferred. But, the Title of the Goods is not transferred at all and thereby attains the character of a supply of Service
A.	Normal Sale of goods
B.	Sales on Approval Basis or Hire Purchases
C.	Rent a Car
D.	None of the Above
Answer» D. None of the Above

Discussion

460.	Whether Ola, Uber, etc. are Liable to Pay Tax In GST
A.	Yes
B.	No
C.	Liability to Pay Tax is on the Actual Service Providers
D.	Exempted
Answer» B. No

Discussion

461.	Example/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 of the Above
Answer» E.

Discussion

462.	What is the proposed late fee for delay in issuing the Certificate of TDS Deduction to the Deductee?
A.	100/-Per Day with a Maximum of ` 5000/-
B.	100/-Per Day with a Maximum of ` 10,000/-
C.	100/-Per Day with a Maximum of ` 25000/-
D.	No Late fee at all.
Answer» B. 100/-Per Day with a Maximum of ` 10,000/-

Discussion

463.	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» E.

Discussion

464.	What will be the Time Limit for Issuing a Certificate of TDS Deduction to the Deductee?
A.	Within 5 Days of the TDS Remittance to the Appropriate Govt.
B.	Within 10 Days of the TDS Remittance to the Appropriate Govt.
C.	Within 15 Days of the TDS Remittance to the Appropriate Govt.
D.	As and When the Deductee asks for the same.
Answer» B. Within 10 Days of the TDS Remittance to the Appropriate Govt.

Discussion

465.	The 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» C. Any of the Above

Discussion

466.	Suppose Amazon supply their own goods by capturing order through their E-Commerce web site. In such a Case,the Amazon will be treated as an :
A.	E-Commerce Operator
B.	Actual Taxable Person
C.	Aggregator
D.	ISD
Answer» C. Aggregator

Discussion

467.	Suppose, a GST of ` 3/-Lakhs is levied on an Unregistered Dealer through any enforcement action. What will be the mode of Tax remittance by such unregistered dealer?
A.	Manual Challan Remittance
B.	Direct Cash Remittance to the concerned Head of Account
C.	E-Payment by logging in to the Temporary Registration No.
D.	Any of the Above
Answer» D. Any of the Above

Discussion

468.	The Threshold Limit for taking registration is not applicable to:
A.	Suppliers of Goods and/or Services(other than branded services) through E-Commerce Operator
B.	Every E-Commerce Operator
C.	Aggregator
D.	All of the Above
Answer» E.

Discussion

469.	The Ola, Uber etc. which facilitates branded services under a Brand Name or trade Name will be Known as :
A.	ISD
B.	Agents
C.	E-Commerce Operator
D.	Aggregatorsv
Answer» E.

Discussion

470.	The Issuance of the Invoice or Receipt of Payment is known as :
A.	Actual Tax Point
B.	Basic Tax Point
C.	Either of the above
D.	None of the Above
Answer» B. Basic Tax Point

Discussion

471.	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» C. Either of the above

Discussion

472.	In GST, a Taxable Event is reckoned based on :
A.	Based on Basic tax Point Only
B.	Based on Actual tax Point Only
C.	Basic tax Point or Actual Tax Point whichever is earlier
D.	None of the Above
Answer» D. None of the Above

Discussion

473.	Suppose, one dealer has sent some goods to another dealer for Sales on Approval Basis. In absence of any confirmation even after 6 months, it will be treated as :
A.	Sales Return
B.	Deemed Supply of Goods
C.	Purchase return
D.	None of the Above
Answer» C. Purchase return

Discussion

474.	Suppose One Dealer has a credit of ` 5/-Lakhs in his Electronic ITC Ledger. That dealer has an interest arrears dues of `6/-Lakhs and Penalty Dues of ` 2/-Lakhs. If so, how much, he has to deposit to settle the above interest and Penalty Dues?
A.	3/-Lakhs
B.	6/-Lakhs
C.	2/-Lakhs
D.	8/-Lakhs
Answer» E.

Discussion

475.	In GST, the valuation of the supply of Goods is based on:
A.	Market Value
B.	Fair Value
C.	Transaction Value
D.	None of the Above
Answer» D. None of the Above

Discussion

476.	Suppose, a Cement manufacturing company allows a post supply discount of ` 5/-Cores to his Distributor without any prior agreement to that effect or without disclosing the same at the time of supply. Whether, it is a Deemed Supply or Not?
A.	Yes
B.	No
C.	Subject to the Individual Circumstances
D.	None of the Above
Answer» B. No

Discussion

477.	In GST, the order of discharging of Tax and Other Liability will be :
A.	Previous Tax Period, Current tax Period and Additional Demand
B.	Current Tax Period, Previous tax Period and Additional Demand
C.	Additional Demand, Current tax Period and Previous Tax Period
D.	Any Order at the Discretion of the Proper Officer/Tax Payer
Answer» B. Current Tax Period, Previous tax Period and Additional Demand

Discussion

478.	What will be the Amount of TDS in GST?
A.	Full Tax Amount
B.	SGST Tax Only
C.	CGST Tax Only
D.	1% of the Payment
Answer» E.

Discussion

479.	What will be the Time Limit for making payment of the TDS Amount by the Deductor?
A.	Within 20 days after the end of the month
B.	Within 15 days after the end of the month
C.	Within 10 days after the end of the month
D.	Next Working Day after the TDS Collection
Answer» D. Next Working Day after the TDS Collection

Discussion

480.	The maximum validity period of provisional attachment in GST will be:
A.	1 Year from the date of Order
B.	2 Years from the date of Order
C.	3 Years from the date of Order
D.	Up to the realisation of the demand in the pending proceedings
Answer» B. 2 Years from the date of Order

Discussion

481.	The tax liability up to the date of transfer of business will be on:
A.	Transferor Only
B.	Transferee Only
C.	Jointly and Severally liable by both the transferor and transferee
D.	Tax Liability Not transferrable
Answer» D. Tax Liability Not transferrable

Discussion

482.	If the CGST department is not satisfactory with the decision or order passed by the Adjudicating Authority, what will be the Option available?
A.	If the CGST department is not satisfactory with the decision or order passed by the Adjudicating Authority, what will be the Option available?
B.	File First Appeal before the FAA within 3 months with another 1 month of condonable delay
C.	Either (A) or (B)
D.	Both (A) and (B)
Answer» E.

Discussion

483.	What are the restrictions for issuing a Revision Order by SGST Commissioner?
A.	No appeal of the dealer pending before FAA/Tribunal/HC/SC
B.	No Revision Order after the expiry of 3 years from adjudication excluding the appeal pendency period before Tribunal/HC/SC including stay period
C.	Either a) or b)
D.	Both a) and b)
Answer» E.

Discussion

484.	If the SGST department is not satisfactory with the decision or order passed by the Adjudicating Authority or by the FAA, what will be the Option available?
A.	Stay the Operation of the Order and pass Revision Order by the Commissioner subject to certain restrictions
B.	File First Appeal or Second, as the case may be, before the FAA or Tribunal within 3 months with another 1 month of condonable delay
C.	None of the Above
D.	Both (A) and (B)
Answer» B. File First Appeal or Second, as the case may be, before the FAA or Tribunal within 3 months with another 1 month of condonable delay

Discussion

485.	What is the time period to issue a Revision Order in a point not raised in any appeal will be:
A.	Before the expiry of 2 Years from the date of the appellate order or before the expiry of 3 years from the date of adjudication whichever is later
B.	Before the expiry of 1 Year from the date of the appellate order or before the expiry of 3 years from the date of adjudication whichever is later
C.	Before the expiry of 3 Years from the date of the appellate order or before the expiry of 5 years from the date of adjudication whichever is later
D.	No such Revision Power
Answer» C. Before the expiry of 3 Years from the date of the appellate order or before the expiry of 5 years from the date of adjudication whichever is later

Discussion

486.	What will be the composition of AAR for each states ?
A.	One Member from CGST and One Member from SGST
B.	2 Members from CGST and One Member from SGST
C.	2 Members from CGST and 2 Members from SGST
D.	3 Members from CGST and 2 Members from SGST
Answer» B. 2 Members from CGST and One Member from SGST

Discussion

487.	Who will be the competent Authority to approach against the order of Authority for Advance Rulings (AAR)?
A.	FAA
B.	Tribunal
C.	HC/SC
D.	Separate Appellate Authority for Advance Rulings
Answer» E.

Discussion

488.	What will be the composition of AAAR for each states ?
A.	Chief Commissioner CGST and Commissioner of SGST
B.	2 Joint Commissioners of CGST and One Joint Commissioners of SGST
C.	2 Joint Commissioners of CGST and 2 Joint Commissioners of SGST
D.	3 Joint Commissioners of CGST and 3 Joint Commissioners of SGST
Answer» B. 2 Joint Commissioners of CGST and One Joint Commissioners of SGST

Discussion

489.	What is the basic objective of setting up settlement Commission?
A.	To give alternative channel for dispute settlement
B.	To expedite GST payment and to avoid litigation
C.	To give an option for voluntary disclosure
D.	All of the Above
Answer» E.

Discussion

490.	Who will be the head of the National Settlement Commission?
A.	National President designated and appointed as such
B.	National Chairman designated and appointed as such
C.	Either a sitting or Retired Judge of a High Court
D.	(b) and (c) Above
Answer» E.

Discussion

491.	The jurisdiction of a state settlement commission will be:
A.	Single State Only
B.	One or More States
C.	Either of the Above
D.	None of the Above
Answer» D. None of the Above

Discussion

492.	If there is difference of opinion in the bench of settlement commission consisting of 2 members, what will be the next option?
A.	Refer the case to a 3rd member and take decision based on majority
B.	Refer the case to any other bench consisting of 2 members
C.	Refer the case to a larger bench and take decision based on majority
D.	Any of the Above
Answer» B. Refer the case to any other bench consisting of 2 members

Discussion

493.	In the application for settlement of cases, voluntary and full disclosures of certain facts are compulsory. What are they?
A.	Undisclosed tax liability before the proper officer of IGST
B.	Manner of deriving the undisclosed tax liability
C.	Additional admitted tax details, misclassification and exemption notification details
D.	All of the above
Answer» E.

Discussion

494.	Who can apply for settlement of GST cases before the settlement commission?
A.	Any taxable person whose appeal is pending before the National Appellate Tribunal or its state bench
B.	Any taxable person in receipt of one or more SCNs and the final order is pending before either the adjudicating authority or First Appellate Authority
C.	Any taxable person whose appeal is pending before any HC or Supreme Court of India
D.	Any of the above
Answer» C. Any taxable person whose appeal is pending before any HC or Supreme Court of India

Discussion

495.	What are the reasons on which an application for settlement can be rejected?
A.	Cases on which appeals are pending before any Tribunal bench or courts
B.	Cases involving rate of tax issue or determination of liability to pay tax
C.	Non-remittance of the prescribed fee
D.	All of the Above
Answer» E.

Discussion

496.	Suppose One Taxable person has filed an application before the settlement commission fulfilling all the 4 conditions for filing the same. Whether he has any option to withdraw the application?
A.	Yes
B.	No
C.	At the discretion of the Settlement Commission
D.	At the option of the Applicant
Answer» C. At the discretion of the Settlement Commission

Discussion

497.	To whom the Advance Ruling is applicable?
A.	To all similarly placed dealers
B.	To all Adjudicating Authorities and Appellate Authorities on similar cases
C.	To the Applicant and his Adjudicating Authority Only
D.	All of the above
Answer» D. All of the above

Discussion

498.	The maximum permissible number of instalment for the tax and other dues payment in GST will be:
A.	6 Monthly Instalments
B.	12 Monthly Instalments
C.	18 Monthly Instalments
D.	24 Monthly Instalments
Answer» E.

Discussion

499.	What will be the time period applicable for advance ruling?
A.	The financial years covered under Advance Rulings
B.	3 years from the date of advance ruling
C.	Till the date when the law, facts or circumstances changes
D.	5 years from the date of advance ruling
Answer» D. 5 years from the date of advance ruling

Discussion

500.	If an advance ruling is obtained by suppression of material facts, all the existing provisions of the GST will be applicable to the appellant as if there were no advance ruling excluding the period from?
A.	Date of Advance Ruling to the date of declaring the same as void
B.	Date of filing application for Advance Ruling to the date of declaring the same as void
C.	The date of hearing the applicant and to the date of declaring the same as void
D.	None of the above
Answer» B. Date of filing application for Advance Ruling to the date of declaring the same as void

Discussion

Explore topic-wise MCQs in Commerce.

The dealers liable to make estimated Advance Tax Remittance to obtain GST Registration are:

If a Registration is cancelled, the Electronic Credit Ledger or Electronic Cash Ledger are debited by :

In GST, a Dealer can apply for the Revocation of the Cancellation of Registration within:

The source Data for migration in to GSTIN in the case of the existing tax payers under VAT and Central Excise will be:

Every Registered Dealers under the earlier laws will be automatically migrated to GST allowing a Provisional Registration Number and the same will be valid for a period of:

In GST, both Central and State Governments should have simultaneous power to levy GST on:

Example for a Supply of Goods in which possession of the goods are transferred. But, the title on the same will be transferred at a future date

Suppose, a Person has a Permit to operate a business venture. But, he refrain from operating such a business venture as per a contract between the other business man in the same line of business for a consideration. Whether it is a Taxable Supply of Service in GST?

Example for a Supply of Goods in which possession of the goods is transferred. But, the Title of the Goods is not transferred at all and thereby attains the character of a supply of Service

Whether Ola, Uber, etc. are Liable to Pay Tax In GST

Example/Examples for Deemed Supply of Services

What is the proposed late fee for delay in issuing the Certificate of TDS Deduction to the Deductee?

The TDS Remittance of the Deductor will be shown in the :

What will be the Time Limit for Issuing a Certificate of TDS Deduction to the Deductee?

The Additional Demand Made in respect of the earlier laws after the implementation of the GST will be an amount recoverable under:

Suppose Amazon supply their own goods by capturing order through their E-Commerce web site. In such a Case,the Amazon will be treated as an :

Suppose, a GST of ` 3/-Lakhs is levied on an Unregistered Dealer through any enforcement action. What will be the mode of Tax remittance by such unregistered dealer?

The Threshold Limit for taking registration is not applicable to:

The Ola, Uber etc. which facilitates branded services under a Brand Name or trade Name will be Known as :

The Issuance of the Invoice or Receipt of Payment is known as :

Transfer of Possession of Goods is

In GST, a Taxable Event is reckoned based on :

Suppose, one dealer has sent some goods to another dealer for Sales on Approval Basis. In absence of any confirmation even after 6 months, it will be treated as :

Suppose One Dealer has a credit of ` 5/-Lakhs in his Electronic ITC Ledger. That dealer has an interest arrears dues of `6/-Lakhs and Penalty Dues of ` 2/-Lakhs. If so, how much, he has to deposit to settle the above interest and Penalty Dues?

In GST, the valuation of the supply of Goods is based on:

Suppose, a Cement manufacturing company allows a post supply discount of ` 5/-Cores to his Distributor without any prior agreement to that effect or without disclosing the same at the time of supply. Whether, it is a Deemed Supply or Not?

In GST, the order of discharging of Tax and Other Liability will be :

What will be the Amount of TDS in GST?

What will be the Time Limit for making payment of the TDS Amount by the Deductor?

The maximum validity period of provisional attachment in GST will be:

The tax liability up to the date of transfer of business will be on:

If the CGST department is not satisfactory with the decision or order passed by the Adjudicating Authority, what will be the Option available?

What are the restrictions for issuing a Revision Order by SGST Commissioner?

If the SGST department is not satisfactory with the decision or order passed by the Adjudicating Authority or by the FAA, what will be the Option available?

What is the time period to issue a Revision Order in a point not raised in any appeal will be:

What will be the composition of AAR for each states ?

Who will be the competent Authority to approach against the order of Authority for Advance Rulings (AAR)?

What will be the composition of AAAR for each states ?

What is the basic objective of setting up settlement Commission?

Who will be the head of the National Settlement Commission?

The jurisdiction of a state settlement commission will be:

If there is difference of opinion in the bench of settlement commission consisting of 2 members, what will be the next option?

In the application for settlement of cases, voluntary and full disclosures of certain facts are compulsory. What are they?

Who can apply for settlement of GST cases before the settlement commission?

What are the reasons on which an application for settlement can be rejected?

Suppose One Taxable person has filed an application before the settlement commission fulfilling all the 4 conditions for filing the same. Whether he has any option to withdraw the application?

To whom the Advance Ruling is applicable?

The maximum permissible number of instalment for the tax and other dues payment in GST will be:

What will be the time period applicable for advance ruling?

If an advance ruling is obtained by suppression of material facts, all the existing provisions of the GST will be applicable to the appellant as if there were no advance ruling excluding the period from?