MCQOPTIONS
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MCQOPTIONS
This section includes 1133 Mcqs, each offering curated multiple-choice questions to sharpen your Commerce knowledge and support exam preparation. Choose a topic below to get started.
| 601. |
uppose taxable identifiable goods under earlier law dispatched within 6 months prior to the appointed day are returned back within 6 months from the appointed day. How such 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 | |
| 602. |
Input tax credit as per the VAT law will be carried forward as: |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | CGST or SGST at the option of the supplier |
| Answer» C. IGST | |
| 603. |
What will be the amount carried forward as CGST/SGST from the earlier law and shown in the return filed for the period ending as on appointed date? |
| A. | No amount will be carried forward from the earlier law |
| B. | Amount which is admissible under earlier law but may not be admissible under GST |
| C. | Amount which is admissible under GST but may not be admissible under earlier law |
| D. | Amount which is admissible under both the GST and earlier law |
| Answer» E. | |
| 604. |
If the unavailed Input Tax Credit on Capital Goods under the earlier law which has been subsequently availed under the GST law is found to be inadmissible as per the proceedings of the Department, then what will be the course of action for the Department? |
| A. | Such amount will be recovered under the GST law |
| B. | Such amount will be recovered under the earlier law |
| C. | Such amount cannot be recovered |
| D. | Such amount may be recovered under the GST law or the earlier law at Department’s option |
| Answer» B. Such amount will be recovered under the earlier law | |
| 605. |
To avail credit of tax on inputs held in stock by a dealer who was exempted from payment of tax as per earlier law, the said inputs should be used or intended to be used for making, |
| A. | Taxable supplies under GST |
| B. | Exempt supplies |
| C. | Either taxable or exempt supplies |
| D. | Both taxable and exempt supplies |
| Answer» B. Exempt supplies | |
| 606. |
For credit to be allowable, invoices should not be issued earlier than; |
| A. | Three months before the appointed day |
| B. | Six months before the appointed day |
| C. | Nine months before the appointed day |
| D. | Twelve months before the appointed day |
| Answer» E. | |
| 607. |
What will happen to the rest of credit carried forward in respect of a regular dealer switching over to composition stream under GST, after adjusting to the inputs held in stock?; |
| A. | Carry forward the rest of the credit |
| B. | Credit kept in abeyance till the taxable opts for normal scheme once again |
| C. | Credit lapses |
| D. | Electronic credit ledger will freeze with the credit available |
| Answer» D. Electronic credit ledger will freeze with the credit available | |
| 608. |
Declaration of inputs held in stock by job worker on behalf of manufacturer is to be filed by? |
| A. | Manufacturer |
| B. | Job Worker |
| C. | Both (a) and (b) |
| D. | None of the above |
| Answer» D. None of the above | |
| 609. |
Where the goods sold paying VAT within 6 months prior to the appointed day are returned back to business place by an unregistered person within 6 months from the appointed day, the registered person can, |
| A. | Re sale the goods without paying GST |
| B. | The VAT paid will be lost |
| C. | Claim for refund of VAT under the existing law |
| D. | Pay tax on reverse charge basis |
| Answer» D. Pay tax on reverse charge basis | |
| 610. |
Which of the following is true in respect of events after the applicability of GST? |
| A. | Proceedings under earlier law will be disposed of under the earlier law |
| B. | Any default due to proceedings in the earlier law will be recovered in the earlier law |
| C. | Proceedings under the earlier law will be disposed of under the new law |
| D. | Any refund due to the proceedings will be admissible as input tax credit |
| Answer» B. Any default due to proceedings in the earlier law will be recovered in the earlier law | |
| 611. |
The process carried out on finished goods or testing done shall ? |
| A. | Amount to Manufacture |
| B. | Not amount to Manufacture |
| C. | Result in different product |
| D. | Change the use of product |
| Answer» C. Result in different product | |
| 612. |
A taxable person shall not be entitled to take input tax credit in respect of any goods services to him after the expiry of ................... from the date of tax invoice related to such supply? |
| A. | One month |
| B. | Six months |
| C. | One year |
| D. | Two years |
| Answer» D. Two years | |
| 613. |
Input tax credit is not available on .....................? |
| A. | Goods used for personal use |
| B. | Trading goods |
| C. | Capital goods |
| D. | Fixed capital |
| Answer» B. Trading goods | |
| 614. |
The five conditions for claiming ITC doesn't include the following: |
| A. | He is in possession of tax invoice |
| B. | He has received the goods/services |
| C. | The tax charged has been actually paid to the Government |
| D. | He must have inter-state supply |
| Answer» E. | |
| 615. |
Input tax credit in relation to SGST means: |
| A. | SGST and CGST |
| B. | SGST and IGST |
| C. | IGST and CGST |
| D. | IGST, SGST and CGST |
| Answer» C. IGST and CGST | |
| 616. |
ITC in relation to IGST means .............................. |
| A. | SGST and CGST |
| B. | SGST and IGST |
| C. | IGST and CGST |
| D. | IGST, SGST and CGST |
| Answer» E. | |
| 617. |
ITC in relation to CGST means .......................... |
| A. | SGST and CGST |
| B. | SGST and IGST |
| C. | IGST and CGST |
| D. | IGST, SGST and CGST |
| Answer» D. IGST, SGST and CGST | |
| 618. |
The documents or books seized on inspections which are not relied upon for the issue of notice shall be returned to the party within ..................... days of issue of notice. |
| A. | 15 |
| B. | 30 |
| C. | 60 |
| D. | 90 |
| Answer» C. 60 | |
| 619. |
The goods seized are to be returned to the person from whom seized if no notice in respect thereof is issued within a period of.................. |
| A. | 30 days |
| B. | 60 days |
| C. | 3 Months |
| D. | 6 Months |
| Answer» E. | |
| 620. |
All arrests should be made as per the provisions of .................... |
| A. | CRPC |
| B. | CPC |
| C. | FEMA |
| D. | IPC |
| Answer» B. CPC | |
| 621. |
Persons arrested for cognizable offences are to be produced before the Magistrate within ......... |
| A. | 12 Hours |
| B. | 24 Hours |
| C. | 48 Hours |
| D. | At the next working day |
| Answer» C. 48 Hours | |
| 622. |
Place of supply of services in relation to lodging accommodation shall be .................? |
| A. | Location of the supplier |
| B. | Location of the recipient |
| C. | Location at the lodging accommodation is located |
| D. | None of these |
| Answer» D. None of these | |
| 623. |
The default rule of place of supply of services made to any person other than a registered person if address on record doesn't exist shall be ...................................? |
| A. | Location of the recipient of services |
| B. | Location of the supplier of services |
| C. | Location where service is rendered |
| D. | Location where agreement for rendering of services is executed |
| Answer» C. Location where service is rendered | |
| 624. |
Place of supply of services in relation to mobile connection for pre-paid customers other than through internet shall be ...............................? |
| A. | Location of supplier |
| B. | Location of recipient |
| C. | Location where such pre-payment is recieved as such vouchers are sold |
| D. | None of these |
| Answer» D. None of these | |
| 625. |
ITC in GST is computed by generating ........................... |
| A. | GSTR I |
| B. | GSTR II |
| C. | GSTR III |
| D. | GSTR IV |
| Answer» C. GSTR III | |
| 626. |
Tax paid on goods and services under ...................... Act is allowable both under SGST act and CGST Act? |
| A. | IGST |
| B. | VAT |
| C. | Excise |
| D. | Customs |
| Answer» B. VAT | |
| 627. |
Cross utilization of ITC is ot allowed between: |
| A. | SGST and CGST |
| B. | SGST and IGST |
| C. | IGST and CGST |
| D. | None of the above |
| Answer» B. SGST and IGST | |
| 628. |
ITC is allowed on tax paid on capital goods in ............. instalments in GST |
| A. | 12 |
| B. | 36 |
| C. | 3 |
| D. | 1 |
| Answer» E. | |
| 629. |
ITC includes tax payable under ................................. also |
| A. | VAT |
| B. | Reverse charge |
| C. | Excise |
| D. | Customers |
| Answer» C. Excise | |
| 630. |
ITC on pre-registration stock is allowed of registration is take with in .................days from the date on which he is liable for registration |
| A. | 15 |
| B. | 30 |
| C. | 90 |
| D. | 60 |
| Answer» C. 90 | |
| 631. |
Treatment of ITC in respect of a taxable person paying tax under section 7 opts to pay tax under composition scheme? |
| A. | No liability |
| B. | Liable to pay an amount equipment to the input tax credit in respect inputs held in state in any form |
| C. | ITC for input in stock allowed |
| D. | None of the above |
| Answer» C. ITC for input in stock allowed | |
| 632. |
................... Act implements 'destination principle of taxation' in GST scenario? |
| A. | CGST |
| B. | SGST |
| C. | Customs |
| D. | IGST |
| Answer» E. | |
| 633. |
............... Act provides un-intercepted ITC chain on inter-state transactions? |
| A. | IGST |
| B. | CGST |
| C. | VAT |
| D. | SGST |
| Answer» B. CGST | |
| 634. |
In IGST .................. state shall pay the amount equal to the ITC SGST used by the supplier in the exporting state to centre? |
| A. | Exporting state |
| B. | Importing state |
| C. | Centre |
| D. | |
| Answer» B. Importing state | |
| 635. |
Place of supply of goods when supply involves movement of goods? |
| A. | location of the goods at the time at which the movement of goods terminates for delivery to the recipient |
| B. | ocation of the goods at the time at which movement of goods commences for delivery to the recipient |
| C. | location of the principle place of business of the supplier |
| D. | location of the principle place of business of the recipient |
| Answer» B. ocation of the goods at the time at which movement of goods commences for delivery to the recipient | |
| 636. |
Place of supply of goods where the supply doesn't involve movement of goods ...........? |
| A. | Location of the goods at the time of purchase order |
| B. | Location of the goods at the time of delivery to the recipient |
| C. | Location of the supplier |
| D. | Location of the recipient |
| Answer» C. Location of the supplier | |
| 637. |
Place of supply where the goods are assembled or installed? |
| A. | Place of supplier |
| B. | Place of recipient |
| C. | Place of transporter |
| D. | Place of the such assembly or installation |
| Answer» E. | |
| 638. |
Place of supply where the goods are supplied on board a conveyance such as vessel, an aircraft, a train or motor vehicle? |
| A. | Location of supplier |
| B. | Location of recipient |
| C. | Location at which such goods are taken on board |
| D. | None of these |
| Answer» D. None of these | |
| 639. |
Manner of utilizing ITC for payment of IGST .........................? |
| A. | (i) IGST (ii) SGST (iii) CGST (iv) Cash |
| B. | (i) CGST (ii) IGST (iii) SGST (iv) Cash |
| C. | (i) IGST (ii) Cash (iii) CGST (iv) SGST |
| D. | (i) IGST (ii) CGST (iii) SGST (iv) Cash |
| Answer» E. | |
| 640. |
The default rule of place of supply of services made to any person other than a registered person if address on record exist shall be .................................? |
| A. | Location of service provider |
| B. | Location where service is rendered |
| C. | Location where agreement for rendering of service is executed |
| D. | Location of the recipient |
| Answer» E. | |
| 641. |
The default rule of place of supply of services made to a registered person shall be ..............................? |
| A. | Location of such person |
| B. | Location of service provider |
| C. | Location where service is provided |
| D. | Location where agreement for rendering of service is executed |
| Answer» B. Location of service provider | |
| 642. |
The maximum rate of tax prescribed for manufactures in Composition levy is; (CGST +SGST) |
| A. | 1 % |
| B. | 5% |
| C. | 0.5% |
| D. | 2.5 % |
| Answer» C. 0.5% | |
| 643. |
IGST Act is passed by ........................? |
| A. | Parliament |
| B. | State Legislative |
| C. | Union Territory |
| D. | Legislative Council |
| Answer» B. State Legislative | |
| 644. |
IGST means ..........................? |
| A. | CGSTInter-state GST |
| B. | Integrated GST |
| C. | Import GST |
| D. | International GST |
| Answer» C. Import GST | |
| 645. |
Under ............... Article of the Constitution, GST on supplies in the cause of Inter-state trade or commerce shall be levied and collected by the Government of India ? |
| A. | Article 246 A |
| B. | Article 269 A |
| C. | Article 254 |
| D. | Article 279 A |
| Answer» C. Article 254 | |
| 646. |
IGST is levied and collected is .................? |
| A. | Allotted to centre only |
| B. | Allotted to states only |
| C. | Allotted to UT's only |
| D. | Apportioned between centre and states |
| Answer» E. | |
| 647. |
What is rate of tax of IGST? |
| A. | CGST rate |
| B. | SGST rate |
| C. | CGST + SGST rate |
| D. | VAT rate |
| Answer» D. VAT rate | |
| 648. |
........... is levied on imports of goods and services? |
| A. | SGST |
| B. | CGST |
| C. | IGST |
| D. | VAT |
| Answer» D. VAT | |
| 649. |
Import/Export is treated as ..................... in GST? |
| A. | Intra-state supply |
| B. | Inter-state supply |
| C. | Non-taxable supply |
| D. | Exempted supply |
| Answer» C. Non-taxable supply | |
| 650. |
Inter-state supplies means: |
| A. | Any-supply where the location of the supplier and the place of supply are in the same state |
| B. | Any supply where the location of supplier and the place of supply are in different states |
| C. | Any supply where location of the supplier and place of supply are outside the country |
| D. | None of these |
| Answer» C. Any supply where location of the supplier and place of supply are outside the country | |