1133 + Mcqs in Gst Page 12 McqOptions

551.	If a dealer paying Tax under Composition scheme in earlier law, switch over to normal scheme in GST, the treatment of Tax element involved in the stock will be:
A.	No ITC Credit
B.	ITC Credit subject to eligibility
C.	Refund of Tax Element
D.	None of the Above
Answer» C. Refund of Tax Element

Discussion

552.	What will be a Taxable Event in GST?
A.	Manufacture
B.	Taxable Supply of Goods and Services
C.	Both (A) and (B) above
D.	None of the Above
Answer» C. Both (A) and (B) above

Discussion

553.	The Order of the Utilisation of the SGST ITC Credit will be:
A.	IGST OPT,CGST OPT and SGST OPT
B.	CGST OPT,IGST OPT and SGST OPT
C.	SGST OPT,IGST OPT and No Utilisation over CGST OPT
D.	SGST OPT,CGST OPT and No Utilisation over IGST OPT
Answer» D. SGST OPT,CGST OPT and No Utilisation over IGST OPT

Discussion

554.	All the existing Registered Dealers under existing laws will be automatically migrated in to GST on provisional basis except:
A.	Local VAT Dealer
B.	Dealer having both VAT and CST
C.	Manufacturing Units remitting Cenvat
D.	ISD
Answer» E.

Discussion

555.	What constitute the repeated short payment of tax in GST?
A.	2 short payment in 2 consecutive return periods
B.	3 short payment in 3 consecutive return period
C.	2 short payment in 2 return period during any 6 consecutive return periods
D.	3 short payment in 3 return period during any six consecutive return periods
Answer» E.

Discussion

556.	Suppose, after filing of the application for settlement, if the applicant is convicted of any offence or the commission convinced that the applicant is not co-operating with them. What will be the fate of the settlement application?
A.	To proceed with the available data
B.	To proceed with the data furnished already and that received from the new offence details
C.	To send back the case to the proper adjudicating authority
D.	Any of the above
Answer» D. Any of the above

Discussion

557.	What will be the maximum amount of penalty u/s.67 for contravening any provision of the GST Act or Rules on which no separate penalty is prescribed?
A.	Rs.25/-Thousand
B.	Rs.10/-Thousand
C.	Rs.50/-Thousand
D.	Rs.1/-Lakh
Answer» B. Rs.10/-Thousand

Discussion

558.	The permissible time period to correct any error apparent on the face of record in the order of the settlement commission will be?
A.	3 months
B.	6 months
C.	12 months
D.	No such time limit
Answer» B. 6 months

Discussion

559.	The minimum transaction value which necessitates the accompanying of any of the prescribed transporting documents will be :
A.	Goods having a transaction value of and above Rs.250/-
B.	Goods having a transaction value of and above Rs.5000/-
C.	Goods having a transaction value of and above Rs.50,000/-
D.	Goods having a transaction value of and above Rs.2,50,000/-
Answer» D. Goods having a transaction value of and above Rs.2,50,000/-

Discussion

560.	Who will be the competent authority to issue an authorisation in writing for conducting any search?
A.	An Officer not below the rank of the Commissioner
B.	An Officer not below the rank of a Joint Commissioner
C.	An Officer not below the rank of a Deputy Commissioner
D.	Any of the Above
Answer» C. An Officer not below the rank of a Deputy Commissioner

Discussion

561.	Whenever the goods will become a subject matter of confiscation in GST?
A.	Supply in violation of the act and rules
B.	Non-accounting of the taxable supplies
C.	Taxable supply without having applied for registration
D.	All of the Above
Answer» E.

Discussion

562.	If the officer fails to issue a notice to the taxable person after the seizure of the goods within 60 days or within extended time period at maximum of 6 months, what will be its impact?
A.	Goods can still be detained up to the completion of the adjudication procedure
B.	Goods are to be returned
C.	Either (A) or (B) at the discretion of the adjudicating authority
D.	None of the Above
Answer» C. Either (A) or (B) at the discretion of the adjudicating authority

Discussion

563.	Suppose one dealer who was not liable to get registered in the earlier law or a manufacturer of the exempted goods became taxable under GST.How the tax element involved in his raw material stock or semi-finished goods or finished goods on the appointed day will be treated in GST?
A.	Refunded under earlier laws
B.	Allowed as ITC in GST
C.	Refunded under GST law
D.	No ITC Credit
Answer» C. Refunded under GST law

Discussion

564.	Suppose a goods vehicle contains 10 consignments having a total value of Rs.4,20,000/-whereas the individual value of each consignment is less than Rs.50,000/-.If so, how many number of prescribed documents should accompany in that goods vehicle?
A.	11 e-generated prescribed documents from the common portal for transportation
B.	Only One e-generated prescribed document in respect of the entire consignment
C.	8+1 e-generated documents
D.	No e-generated Document at all
Answer» E.

Discussion

565.	Maximum settlement opportunity allowable to a taxable person?
A.	Only Once
B.	Only 2
C.	Up to 3 cases
D.	No such limit
Answer» C. Up to 3 cases

Discussion

566.	Suppose a goods vehicle contains 10 consignments having a total value of Rs.4,20,000/-. Out of the above 2 consignments are of a transactions value of Rs.60, 000/- and 72,000/-respectively whereas the individual value of the remaining 8 consignmentsare less than Rs.50,000/-. If so, how many number of prescribed documents should accompany in that goods vehicle?
A.	10 e-generated prescribed documents from the common portal for transportation
B.	2 e-generated prescribed document in respect of the entire consignment
C.	2 e-generated documents in respect of the consignment having he transaction value of more than Rs.50,000/-
D.	No E-generated Document at all
Answer» D. No E-generated Document at all

Discussion

567.	What are the conditions in which a taxable person may beordered to be arrested ?
A.	An offence U/s.73 having a tax evasion value of more than Rs.50/-Lakhs
B.	Repetition of an offence U/s.73
C.	Any of the Above
D.	None of the Above
Answer» D. None of the Above

Discussion

568.	The power to issue order for arrest will be vested upon ?
A.	Commissioner of CGST/SGST
B.	Joint Commissioner of CGST/SGST
C.	Deputy Commissioner/Assistant Commissioner of CGST/SGST
D.	Any of the Above
Answer» B. Joint Commissioner of CGST/SGST

Discussion

569.	If a taxable person is arrested for a cognizable offence(Non-bail able Offence),he should be produced before a magistrate within:
A.	24 hours
B.	48 hours
C.	At any working days at the option of the proper officer
D.	No such need in the case of a tax evasion case
Answer» B. 48 hours

Discussion

570.	If a taxable person is arrested for a non-cognizable offence (Bail able Offence), who will be the empowered officer to release him on bail?
A.	Commissioner of CGST/SGST
B.	Deputy Commissioner/Assistant Commissioner of CGST/SGST
C.	Joint Commissioner of CGST/SGST
D.	Any of the Above
Answer» C. Joint Commissioner of CGST/SGST

Discussion

571.	How much volume of a tax evasion case will be a Cognizable or Non-Bail able Offence in GST?
A.	Tax evasion exceeding Rs.50/-Lakhs
B.	Tax Evasion exceeding Rs.1 Crores
C.	Tax Evasion Exceeding Rs.2 Crores
D.	Tax Evasion exceeding Rs.2.5 Crores
Answer» E.

Discussion

572.	What will be the volume of compulsory penalty for the offences listed u/s.66(1) of the MGST Act,2016 will be :
A.	Rs.10,000/-
B.	Amount equivalent to the tax amount involved in the offence
C.	Highest of the above a) or b)
D.	No Penalty at all
Answer» D. No Penalty at all

Discussion

573.	If any makes repeats the short payment of tax, what will be the volume of penalty?
A.	Rs.10,000/-
B.	10% of the tax short paid
C.	Highest of the above a) or b)
D.	No Penalty at all
Answer» D. No Penalty at all

Discussion

574.	What will be the maximum volume of compulsory Penalty in the case of offences like abetment ,etc. listed u/s.66(3):
A.	Rs.25/-Thousand
B.	Rs.10/-Thousand
C.	Rs.50/-Thousand
D.	Rs.1/-Lakh
Answer» B. Rs.10/-Thousand

Discussion

575.	Suppose taxable identifiable goods under earlier law dispatched within 6 months prior to the appointed day (i.e.01-04-2017) are returned back after 6 months from the appointed day. How such return supply will be treated under GST?
A.	It will be Subject to tax at the appropriate rate of GST
B.	No GST
C.	At the half rate of the GST
D.	Only SGST is charged
Answer» B. No GST

Discussion

576.	What will be the volume of penalty in confiscation cases?
A.	Rs.10/-Thousand
B.	Equal Amount of tax
C.	Either a) or b) whichever is higher
D.	Rs.50/-Thousand
Answer» D. Rs.50/-Thousand

Discussion

577.	What will be the procedure to be complied by the provisional registration certificate holders to get final certificate of registration?
A.	By e-filing the online registration application with the prescribed scanned documents within 1 months from the appointed day
B.	By e-filing the online registration application with the prescribed scanned documents within 2 months from the appointed day
C.	By e-filing the online registration application with the prescribed scanned documents within 3 months from the appointed day
D.	By e-filing the online registration application with the prescribed scanned documents within 6 months from the appointed day
Answer» E.

Discussion

578.	If one dealer fails to give the additional information for final registration in GST within the prescribed time period, what will be the fate of the provisional registration?
A.	It will be cancelled giving SCN
B.	He will be issued compulsory final Registration without allowing any ITC
C.	Either a) or b)
D.	None of the above
Answer» B. He will be issued compulsory final Registration without allowing any ITC

Discussion

579.	Suppose, One existing dealer who has been issued Provisional Registration Certificate is not liable for registration under GST due to the below registrable limit or items not liable to tax under GST. What will be the option available to such dealers in the provisional registration period?
A.	He may apply for the cancellation of the provisional registration
B.	He has to wait for the completion of the provisional registration period of 6 months
C.	Cancellation will be permitted only after One year from the appointed day
D.	None of the Above
Answer» B. He has to wait for the completion of the provisional registration period of 6 months

Discussion

580.	Suppose one dealer has Cen vat or Local VAT unadjusted ITC credit carried forward to the last return period in the subsumed taxation laws. How this balance unadjusted ITC will be treated in GST?
A.	Refunded under earlier laws
B.	Allowed as ITC in GST
C.	Refunded under GST law
D.	Any of the Above
Answer» C. Refunded under GST law

Discussion

581.	If any actions are instituted against the admissibility of ITC under earlier law either before or after the implementation of GST, how it will be treated under GST?
A.	Collected as a tax arrears under earlier law
B.	Collected as a tax arrears in the GST
C.	Either a) or b)
D.	None of the Above
Answer» C. Either a) or b)

Discussion

582.	Suppose one taxable person has un-availed cenvat credit or ITC on capital goods not carried forwarded to the last return in the earlier law and allowable both under earlier law or GST law. How it will be treated under GST?
A.	Refunded under earlier laws
B.	Allowed as ITC in GST
C.	Refunded under GST law
D.	Any of the Above
Answer» C. Refunded under GST law

Discussion

583.	What will be the volume of penalty for transporting goods without documents or makes supplies without any supporting entries in the books of accounts will be:
A.	Rs.25/-Thousand
B.	Rs.10/-Thousand
C.	Rs.50/-Thousand
D.	Equal Amount of tax
Answer» E.

Discussion

584.	What will be the penalty for opting the composition of the tax liability without eligible for the same?
A.	Rs.25/-Thousand
B.	Rs.10/-Thousand
C.	Rs.50/-Thousand
D.	Equal Amount of tax
Answer» E.

Discussion

585.	What will be the volume of fine in lieu of confiscation of the goods?
A.	Rs.10/-Thousand
B.	Equal Amount of tax
C.	Either a) or b) whichever is higher
D.	Fine not exceeding the market price of the goods
Answer» E.

Discussion

586.	What is the punishment in the case of a tax evasion case between Rs.50/-Lakhs and Rs.250/-Lakhs
A.	5 Years imprisonment and fine
B.	3 Years imprisonment and fine
C.	2 Years imprisonment and fine
D.	1 Years imprisonment and fine
Answer» C. 2 Years imprisonment and fine

Discussion

587.	What is the punishment in the case of a tax evasion case between Rs.25/-Lakhs and Rs.50/-Lakhs
A.	5 Years imprisonment and fine
B.	3 Years imprisonment and fine
C.	2 Years imprisonment and fine
D.	1 Years imprisonment and fine
Answer» E.

Discussion

588.	What is the punishment in the case of a tax evasion case exceeding Rs.250/-Lakhs?
A.	5 Years imprisonment and fine
B.	3 Years imprisonment and fine
C.	2 Years imprisonment and fine
D.	1 Years imprisonment and fine
Answer» B. 3 Years imprisonment and fine

Discussion

589.	If any offence involving a tax evasion case of and above Rs.25/-Lakhs is repeated again, what will be the punishment in such a case?
A.	5 Years imprisonment and fine
B.	3 Years imprisonment and fine
C.	2 Years imprisonment and fine
D.	1 Years imprisonment and fine
Answer» B. 3 Years imprisonment and fine

Discussion

590.	What will be the lower limit of the compounding fee?
A.	Rs.10,000/-
B.	50% of the tax involved
C.	Rs.30,000/-
D.	Highest of the above a) or b)
Answer» E.

Discussion

591.	Who will be the registered taxable persons on the appointed day of the GST implementations?
A.	Who will be the registered taxable persons on the appointed day of the GST implementations?
B.	Those who apply for GST registration at least 5 days prior to the appointed day
C.	Every existing registered persons under the subsuming tax laws will be automatic provisional GST registration on the appointed day
D.	Any of the above
Answer» D. Any of the above

Discussion

592.	What will be the upper limit of the compounding fee?
A.	Rs.30,000/-
B.	150% of the tax involved
C.	Rs.50,000/-
D.	Highest of the above a) or b)
Answer» E.

Discussion

593.	What will be the validity period of the provisional GST registration certificate that automatically issued on the appointed day?
A.	For 30 days from the appointed day
B.	For 60 days from the appointed day
C.	For 90 days from the appointed day
D.	For 6 months from the appointed day
Answer» E.

Discussion

594.	Inspections, Search and seizure operations under GST are to be authorised by a CGST/SGST Officer not below the rank of ___________
A.	Dy Commissioner
B.	Dy Commissioner
C.	Joint Commissioner
D.	Commissioner
Answer» D. Commissioner

Discussion

595.	Inspections can be conducted at the business places of, _____________
A.	Taxable persons
B.	Transporter of goods
C.	Owner or Operator of Godowns/Ware house
D.	All of the above
Answer» E.

Discussion

596.	The person in charge of the conveyance carrying any consignment of goods exceeding the value of ________________, shall carry prescribed documents (E-Waybill)
A.	50,000
B.	1,00,000
C.	10,000
D.	100 lakhs
Answer» B. 1,00,000

Discussion

597.	Arrests under GST are to be authorised by ____________
A.	Asst Commissioner
B.	Joint Commissioner
C.	Commissioner
D.	None of the above
Answer» D. None of the above

Discussion

598.	If a taxable person remitting tax in the normal scheme under earlier law switchover to composition scheme in the GST.How the tax element involved in the already ITC adjusted closing stock under earlier law will be treated?
A.	Related tax element under earlier law is to be remitted back by debiting electronic credit ledger or electronic cash ledger.
B.	The balance ITC in the electronic credit ledger will be lapsed
C.	Both a) and b) Above
D.	Related tax element under earlier law is to be refunded
Answer» D. Related tax element under earlier law is to be refunded

Discussion

599.	Suppose tax exempted goods under earlier law dispatched within 6 months prior to the appointed day are returned back within 6 months from the appointed day. How, the tax element involved in the return supply will be treated under GST?
A.	Subject to tax at the appropriate rate of GST
B.	No GST
C.	At the half rate of the GST
D.	Only SGST is charged
Answer» C. At the half rate of the GST

Discussion

600.	Suppose tax exempted identifiable goods under earlier law dispatched within 6 months prior to the appointed day are returned back after 6 months from the appointed day. How, the tax element involved in the return supply will be treated under GST?
A.	Subject to tax at the appropriate rate of GST
B.	No GST
C.	At the half rate of the GST
D.	Only SGST is charged
Answer» B. No GST

Discussion

Explore topic-wise MCQs in Commerce.

If a dealer paying Tax under Composition scheme in earlier law, switch over to normal scheme in GST, the treatment of Tax element involved in the stock will be:

What will be a Taxable Event in GST?

The Order of the Utilisation of the SGST ITC Credit will be:

All the existing Registered Dealers under existing laws will be automatically migrated in to GST on provisional basis except:

What constitute the repeated short payment of tax in GST?

Suppose, after filing of the application for settlement, if the applicant is convicted of any offence or the commission convinced that the applicant is not co-operating with them. What will be the fate of the settlement application?

What will be the maximum amount of penalty u/s.67 for contravening any provision of the GST Act or Rules on which no separate penalty is prescribed?

The permissible time period to correct any error apparent on the face of record in the order of the settlement commission will be?

The minimum transaction value which necessitates the accompanying of any of the prescribed transporting documents will be :

Who will be the competent authority to issue an authorisation in writing for conducting any search?

Whenever the goods will become a subject matter of confiscation in GST?

If the officer fails to issue a notice to the taxable person after the seizure of the goods within 60 days or within extended time period at maximum of 6 months, what will be its impact?

Suppose one dealer who was not liable to get registered in the earlier law or a manufacturer of the exempted goods became taxable under GST.How the tax element involved in his raw material stock or semi-finished goods or finished goods on the appointed day will be treated in GST?

Suppose a goods vehicle contains 10 consignments having a total value of Rs.4,20,000/-whereas the individual value of each consignment is less than Rs.50,000/-.If so, how many number of prescribed documents should accompany in that goods vehicle?

Maximum settlement opportunity allowable to a taxable person?

What are the conditions in which a taxable person may beordered to be arrested ?

The power to issue order for arrest will be vested upon ?

If a taxable person is arrested for a cognizable offence(Non-bail able Offence),he should be produced before a magistrate within:

If a taxable person is arrested for a non-cognizable offence (Bail able Offence), who will be the empowered officer to release him on bail?

How much volume of a tax evasion case will be a Cognizable or Non-Bail able Offence in GST?

What will be the volume of compulsory penalty for the offences listed u/s.66(1) of the MGST Act,2016 will be :

If any makes repeats the short payment of tax, what will be the volume of penalty?

What will be the maximum volume of compulsory Penalty in the case of offences like abetment ,etc. listed u/s.66(3):

Suppose taxable identifiable goods under earlier law dispatched within 6 months prior to the appointed day (i.e.01-04-2017) are returned back after 6 months from the appointed day. How such return supply will be treated under GST?

What will be the volume of penalty in confiscation cases?

What will be the procedure to be complied by the provisional registration certificate holders to get final certificate of registration?

If one dealer fails to give the additional information for final registration in GST within the prescribed time period, what will be the fate of the provisional registration?

Suppose, One existing dealer who has been issued Provisional Registration Certificate is not liable for registration under GST due to the below registrable limit or items not liable to tax under GST. What will be the option available to such dealers in the provisional registration period?

Suppose one dealer has Cen vat or Local VAT unadjusted ITC credit carried forward to the last return period in the subsumed taxation laws. How this balance unadjusted ITC will be treated in GST?

If any actions are instituted against the admissibility of ITC under earlier law either before or after the implementation of GST, how it will be treated under GST?

Suppose one taxable person has un-availed cenvat credit or ITC on capital goods not carried forwarded to the last return in the earlier law and allowable both under earlier law or GST law. How it will be treated under GST?

What will be the volume of penalty for transporting goods without documents or makes supplies without any supporting entries in the books of accounts will be:

What will be the penalty for opting the composition of the tax liability without eligible for the same?

What will be the volume of fine in lieu of confiscation of the goods?

What is the punishment in the case of a tax evasion case between Rs.50/-Lakhs and Rs.250/-Lakhs

What is the punishment in the case of a tax evasion case between Rs.25/-Lakhs and Rs.50/-Lakhs

What is the punishment in the case of a tax evasion case exceeding Rs.250/-Lakhs?

If any offence involving a tax evasion case of and above Rs.25/-Lakhs is repeated again, what will be the punishment in such a case?

What will be the lower limit of the compounding fee?

Who will be the registered taxable persons on the appointed day of the GST implementations?

What will be the upper limit of the compounding fee?

What will be the validity period of the provisional GST registration certificate that automatically issued on the appointed day?

Inspections, Search and seizure operations under GST are to be authorised by a CGST/SGST Officer not below the rank of ___________

Inspections can be conducted at the business places of, _____________

The person in charge of the conveyance carrying any consignment of goods exceeding the value of ________________, shall carry prescribed documents (E-Waybill)

Arrests under GST are to be authorised by ____________

If a taxable person remitting tax in the normal scheme under earlier law switchover to composition scheme in the GST.How the tax element involved in the already ITC adjusted closing stock under earlier law will be treated?

Suppose tax exempted goods under earlier law dispatched within 6 months prior to the appointed day are returned back within 6 months from the appointed day. How, the tax element involved in the return supply will be treated under GST?

Suppose tax exempted identifiable goods under earlier law dispatched within 6 months prior to the appointed day are returned back after 6 months from the appointed day. How, the tax element involved in the return supply will be treated under GST?