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.
| 51. |
What are the supplies on which reverse charge mechanism would apply at present? |
| A. | Notified categories of goods or services or both under section 9(3) |
| B. | Inward supply of goods or services or both from an unregistered dealer under section 9(4) |
| C. | Both the above |
| D. | None of the above |
| Answer» B. Inward supply of goods or services or both from an unregistered dealer under section 9(4) | |
| 52. |
What would be the tax rate applicable in case of mixed supply? |
| A. | Tax rate as applicable on supply attracting the lowest rate of tax |
| B. | Tax rate as applicable on supply attracting the highest rate of tax |
| C. | Tax @ 28% |
| D. | None of the above |
| Answer» C. Tax @ 28% | |
| 53. |
Place of supply of goods, other than supply of goods imported into, or exported from India, whensupply does not involve movement of goods is the |
| A. | Location of the supplier |
| B. | Location of the goods at the time of the delivery to the recipient |
| C. | Location of the goods at the time of purchase order |
| D. | Location of the recipient |
| Answer» C. Location of the goods at the time of purchase order | |
| 54. |
Which of the following represents composite supply? |
| A. | Doctor’s service with medicines |
| B. | Package with fruits and chocolates |
| C. | Coaching centre with monthly excursions on trekking |
| D. | Supply of computer printer and laptop |
| Answer» B. Package with fruits and chocolates | |
| 55. |
Which of the following has been kept out of the GST Levy? |
| A. | Generator |
| B. | Computer |
| C. | Jewellery |
| D. | Electricity |
| Answer» E. | |
| 56. |
supply shall attract IGST. |
| A. | Intra-State |
| B. | Inter-State |
| C. | Intra state and inter-state |
| D. | Local |
| Answer» C. Intra state and inter-state | |
| 57. |
In case of goods sent on sale on approval basis, invoice has to be issued |
| A. | While sending the goods; another Invoice has to be issued by the recipient while rejecting the goods |
| B. | When the recipient accepts the goods or ten months from the date of supply whichever is earlier |
| C. | When the recipient accepts the goods or six months from the date of supply whichever is earlier |
| D. | When the recipient accepts the goods or three months from the date of supply whichever is earlier |
| Answer» D. When the recipient accepts the goods or three months from the date of supply whichever is earlier | |
| 58. |
Subsidies provided by the Central / State Govt. |
| A. | Shall be excluded from the value of taxable supply |
| B. | Shall be included from the value of taxable supply |
| C. | Shall require no adjustment |
| D. | Can be included or excluded from the value of the taxable supply |
| Answer» B. Shall be included from the value of taxable supply | |
| 59. |
is levied on Inter State Supply of Goods and/or Services. |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | Both a & b |
| Answer» D. Both a & b | |
| 60. |
An assessee obtains new registration, voluntary registration, change of scheme from composition to regular scheme and from exempted goods/ services to taxable goods/services. It can avail credit on inputs lying in stock. What is the time limit for taking said credit? |
| A. | 1 year from the date of invoice |
| B. | 3 years from the date of invoice |
| C. | 5 years from the date of invoice |
| D. | None of the above |
| Answer» B. 3 years from the date of invoice | |
| 61. |
Power to declare certain activities / transactions as neither supply of goods nor of services isgiven in |
| A. | Schedule IV |
| B. | Schedule III |
| C. | Schedule II |
| D. | Schedule I |
| Answer» C. Schedule II | |
| 62. |
Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case recipient of goods is liable to pay tax under reverse charge mechanism. Date of Invoice : 01-10-2019 Date of receipt of goods : 15-10-2019 Date of payment in books : 10-10-2019 Date of debit of payment in Bank A/c : 12-10-2019 |
| A. | Date of Invoice : 01-10-2019 |
| B. | Date of receipt of goods : 15-10-2019 |
| C. | Date of payment in books : 10-10-2019 |
| D. | Date of debit of payment in Bank A/c : 12-10-2019 |
| Answer» B. Date of receipt of goods : 15-10-2019 | |
| 63. |
“Import of services” means the supply of any service, where - |
| A. | The supplier of service is located outside India |
| B. | The recipient of service is located in India |
| C. | The place of supply of service is in India |
| D. | All of the above |
| Answer» E. | |
| 64. |
What is the time of supply of service if the invoice is issued within 30 days from the date ofsupply of service? |
| A. | Date of issue of invoice by the supplier |
| B. | Date of receipt of payment or date of issue of invoice whichever is later |
| C. | Date of receipt of payment by the supplier |
| D. | Date of receipt of payment or date of issue of invoice whichever is earlier |
| Answer» E. | |
| 65. |
What are the consequences of obtaining registration by misrepresentation? |
| A. | Liable to cancellation of registration by proper officer. |
| B. | Liable to a fine not exceeding ` 10,00,000/- |
| C. | Imprisonment for a period of 6 months to 3 years. |
| D. | Both (b) and (c) |
| Answer» B. Liable to a fine not exceeding ` 10,00,000/- | |
| 66. |
Who will take registration on services in relation to transportation of goods (including usedhousehold for personal use) if, GTA avails ITC on supplies made by him |
| A. | GTA, forward charge |
| B. | GTA, RCM |
| C. | Service receiver, forward charge |
| D. | Service receiver, RCM |
| Answer» B. GTA, RCM | |
| 67. |
What is the time of supply of vouchers when the supply with respect to the voucher is notidentifiable? |
| A. | Date of issue of voucher |
| B. | Date of redemption of voucher |
| C. | Earlier of (a) and (b) |
| D. | (a) and (b) whichever is later |
| Answer» C. Earlier of (a) and (b) | |
| 68. |
The amounts can be credited in E-Cash ledger by |
| A. | Internet Banking |
| B. | Using Credit cards or Debit Cards |
| C. | NEFT or RTGS |
| D. | Any of the above |
| Answer» E. | |
| 69. |
Which of the following is - the supply in which possession of the goods are transferred but the title of the goods is not transferred at all and thereby attains the character of the supply of service ? |
| A. | Rent a car |
| B. | Hire Purchase |
| C. | Normal sale of goods |
| D. | None of the above |
| Answer» B. Hire Purchase | |
| 70. |
The place of supply of services provided by way of transportation of goods, including by mail orcourier, to a person other than a registered person, shall be the |
| A. | Place at which such goods are handed over for their transportation |
| B. | Location of the supplier of service |
| C. | Location of the recipient of service |
| D. | Any of the above |
| Answer» B. Location of the supplier of service | |
| 71. |
Which of the following activities is a supply of services? |
| A. | Transfer of right in goods/ undivided share in goods without transfer of title in goods |
| B. | Transfer of title in goods |
| C. | Transfer of title in goods under an agreement which stipulates that property shall pass at a future date |
| D. | All of the above |
| Answer» B. Transfer of title in goods | |
| 72. |
Mr. A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.Date of removal - 1st Oct. 2019 Date of Invoice - 2nd Oct. 2019 Date when goods made available to the recipient - 3rd Oct. 2019 Date of receipt of payment - 15th Nov. 2019 |
| A. | 1st Oct. 2019 |
| B. | 2nd Oct. 2019 |
| C. | 3rd Oct. 2019 |
| D. | 15th Nov. 2019 |
| Answer» B. 2nd Oct. 2019 | |
| 73. |
Which of the following transaction is inter-state supply of goods involving movement of goods?(1) Location of supplier is in Bangalore and location of recipient is in Mumbai and goods are shipped to Kolkata (2) Location of supplier is in Bangalore and place of supply is Mumbai (3) Location of supplier and place of supply is Bangalore (4) None of the above |
| A. | 1 and 2 |
| B. | 1 and 3 |
| C. | 2 and 3 |
| D. | 4 |
| Answer» B. 1 and 3 | |
| 74. |
means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply. |
| A. | Composite Supply |
| B. | Principal Supply |
| C. | Mixed Supply |
| D. | Inward Supply |
| Answer» B. Principal Supply | |
| 75. |
Transportation of passengers by are exempt from GST. |
| A. | Railway in first clas |
| B. | Railway in an air-conditioned coach |
| C. | Metro |
| D. | All of the above |
| Answer» D. All of the above | |
| 76. |
Who is the person allowed to cancel a GST registration ? |
| A. | The registered person himself |
| B. | The GST officer |
| C. | The legal heir of the registered person |
| D. | All of the above |
| Answer» E. | |
| 77. |
In case of renting of land, inside an Industrial estate, by State Government to a registeredmanufacturing company, GST is: |
| A. | Exempted |
| B. | Applicable under Normal Charge |
| C. | Applicable under Reverse Charge |
| D. | None of the above |
| Answer» D. None of the above | |
| 78. |
Which of the following is not a supply as per section 7 of the CGST Act ? |
| A. | Management consultancy services not in course or furtherance of business |
| B. | Import of service for consideration not in course or furtherance of business |
| C. | Both (a) and (b) |
| D. | None of the above |
| Answer» B. Import of service for consideration not in course or furtherance of business | |
| 79. |
On what value TDS needs to be deducted ? |
| A. | Contract value |
| B. | Contract value excluding tax |
| C. | Invoice value including tax |
| D. | Invoice value excluding tax |
| Answer» E. | |
| 80. |
Place of supply of goods, other than supply of goods imported into, or exported from India, whensupply involves movement of goods is the |
| A. | Location of the goods at the time at which the movement terminates for delivery |
| B. | Location of the goods at the time at which the movement starts for delivery |
| C. | Location of the principal place of business of the recipient |
| D. | Location of the principal place of business of the supplier |
| Answer» B. Location of the goods at the time at which the movement starts for delivery | |
| 81. |
Mr. A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 ofthe CGST Act, 2017 in case supply does not involve movement of goods. Date of delivery - 2nd Oct. 2019 (Date when the goods made available to the recipient) Date of Invoice - 3rd Oct. 2019 Date of receipt of payment - 15th Nov. 2019 |
| A. | 2nd Oct. 2019 |
| B. | 3rd Oct. 2019 |
| C. | 15th Nov. 2019 |
| D. | 1st Nov. 2019 |
| Answer» B. 3rd Oct. 2019 | |
| 82. |
“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 the 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 | |
| 83. |
Place of supply of food taken on board at Delhi for an aircraft departing from Delhi to Bangalorevia Hyderabad is |
| A. | Address of the aircraft carrier mentioned on the invoice of the supplier |
| B. | Delhi |
| C. | Jaipur |
| D. | Hyderabad |
| Answer» C. Jaipur | |
| 84. |
Mr. A has started supply of goods and services in Delhi. He is required to obtain registration, if his aggregate turnover exceeds during a financial year. |
| A. | 10 lakh |
| B. | 20 lakh |
| C. | 30 lakh |
| D. | 50 lakh |
| Answer» C. 30 lakh | |
| 85. |
Which of the following will be excluded from the computation of ‘aggregate turnover’? |
| A. | Value of taxable supplies |
| B. | Value of exempt Supplies |
| C. | Non-taxable supplies |
| D. | Value of inward supplies on which tax is paid on reverse charge basis |
| Answer» E. | |
| 86. |
Whether credit can be availed without actual receipt of goods where goods are transferredthrough transfer of document of title before or during the movement of goods? |
| A. | Yes |
| B. | No |
| C. | Yes, in specific instances |
| D. | Can be availed only after transfer of document of title after movement of goods |
| Answer» D. Can be availed only after transfer of document of title after movement of goods | |
| 87. |
GST is payable on the services provided by the employee to the employer in the course ofemployment on |
| A. | Regular basis |
| B. | Contract basis as employed by the company |
| C. | Contract basis as employed by a contractor |
| D. | None of the above |
| Answer» D. None of the above | |
| 88. |
Determine the value of taxable supply as per Section 15 of the CGST Act; 2017 :Contracted sale price of goods (including CGST and SGST @5%) 10,56,000 The contracted sale price includes the following elements of cost: (i) Cost of drawings and design 5,000 (ii) Cost of primary packing 2,000 (iii) Cost of packing at buyer’s request 4,000 (iv)Fright and insurance from ‘place of removal’ to buyer’s premises 43,000 A discount of 6,000 was given by the supplier at the time of supply of goods. CGST and SGST is levied @ 5%. |
| A. | 10,56,000 |
| B. | 10,50,000 |
| C. | 10,00,000 |
| D. | 11,10,000 |
| Answer» D. 11,10,000 | |
| 89. |
In case of continuous supply of services, where due date of payment is not ascertainable from the contract, invoice shall be issued |
| A. | before or at the time when the supplier of service receives the payment |
| B. | on or before the due date of payment |
| C. | either (a) or (b) |
| D. | none of the above |
| Answer» B. on or before the due date of payment | |
| 90. |
Following is an intra-State supply |
| A. | Goods sent from Delhi to another dealer in Delhi |
| B. | Goods sent from Delhi to a SEZ in Noida, Uttar Pradesh |
| C. | Goods sent from Delhi to Chandigarh branch (Haryana) of the same supplier |
| D. | None of the above |
| Answer» B. Goods sent from Delhi to a SEZ in Noida, Uttar Pradesh | |
| 91. |
Which of the following is not liable to be registered as per provisions of CGST Act, 2017 ? |
| A. | Person supplying exempted good |
| B. | Non-resident making taxable supplies |
| C. | Deductor of tax at source |
| D. | Supplier on behalf of other person |
| Answer» B. Non-resident making taxable supplies | |
| 92. |
Within how many days an application for revocation of cancellation of registration can be made? |
| A. | Within 7 days from the date of service of the cancellation order. |
| B. | Within 15 days from the date of issue of the cancellation order. |
| C. | Within 45 days from the date of issue of the cancellation order. |
| D. | Within 30 days from the date of service of the cancellation order. |
| Answer» E. | |
| 93. |
Threshold limit of turnover for levy of GST in the case of a person having business (supply ofgoods and services) in Gujarat is |
| A. | 10 lakh |
| B. | 20 lakhs |
| C. | 30 lakhs |
| D. | 40 lakhs |
| Answer» C. 30 lakhs | |
| 94. |
Which of the following services provided by Department of Posts are exempt from GST? |
| A. | Speed post |
| B. | Life Insurance |
| C. | Express parcel posts |
| D. | None of the above |
| Answer» E. | |
| 95. |
If NM shipping Co. located in Chennai charges ocean freight charges for transport of goods toCalifornia for a customer located in Bangalore, the place of supply of service will be |
| A. | Chennai |
| B. | California |
| C. | Bangalore |
| D. | None of the above |
| Answer» C. Bangalore | |
| 96. |
Is Input tax to be paid in case of switchover from taxable to exempt supplies |
| A. | Yes, equivalent to the credit in respect of inputs held in stock (including semi- finished and finished goods) and on capital goods held in stock |
| B. | No |
| C. | Yes, full credit |
| D. | No, should be debited to electronic credit ledger |
| Answer» B. No | |
| 97. |
Which of the following supplies are naturally bundled? |
| A. | Rent deed executed for renting of two different floors of a building-one for residential and another for commercial purpose to same person |
| B. | Pack of watch, tie and belt |
| C. | Package of canned food such as burger, chocolates, sweets, cake etc. |
| D. | None of the above |
| Answer» E. | |
| 98. |
The definition of goods under section 2(52) of the CGST Act does not include- |
| A. | Gras |
| B. | Money and securities |
| C. | Actionable claims |
| D. | Growing crops |
| Answer» C. Actionable claims | |
| 99. |
Madhan is located in Chennai. He has a branch office in Cochin. He wants to transfer goods. Histurnover was always below ` 10 lakhs. His registration under GST is |
| A. | Voluntary |
| B. | Compulsory |
| C. | Compulsory only when turnover exceeds 20 lakhs |
| D. | As and when deemed by the Revenue |
| Answer» C. Compulsory only when turnover exceeds 20 lakhs | |
| 100. |
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. | All the above |
| Answer» D. All the above | |