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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.
| 251. |
Determine the TOS in accordance with provisions of CGST Act, 2017.Date of actual supply of service - 10th Nov. 2019 Date of Invoice - 30th Nov. 2019 Date on which payment received - 15th Dec. 2019 |
| A. | 10th Nov. 2019 |
| B. | 30th Nov. 2019 |
| C. | 15th Nov. 2019 |
| D. | 10th Dec. 2019 |
| Answer» C. 15th Nov. 2019 | |
| 252. |
When employer gifts goods to his employees, it will not be considered as taxable supply for thepurpose of GST if the value of supply to an employee does not exceed: |
| A. | 5,000 |
| B. | 20,000 |
| C. | 50,000 |
| D. | 1,00,000 |
| Answer» D. 1,00,000 | |
| 253. |
Temporary transfer or permitting the use or enjoyment of any intellectual property right shall betreated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 254. |
Alcoholic liquor for Human Consumption is subject to - |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | None of the above |
| Answer» E. | |
| 255. |
is not included in the term “Goods” under GST Law: |
| A. | Movable Property |
| B. | Actionable Claim |
| C. | Securities |
| D. | Growing Crops |
| Answer» D. Growing Crops | |
| 256. |
In relation to a registered person, input tax means the Central tax, State tax, Integrated tax orUnion Territory tax charged on any supply of goods or services or both made to him and includes |
| A. | The integrated goods and services tax charged on import of goods |
| B. | The tax payable under Reverse Charge Mechanism as per SGST Act |
| C. | The tax payable under Reverse Charge Mechanism as per UTGST Act |
| D. | The tax payable under the composition levy |
| Answer» E. | |
| 257. |
GST a dealer has sent some goods to CST, another dealer, for Sales on Approval Basis. Inabsence 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 | |
| 258. |
Suppose Mr. X has a SGST credit of ` 10 lakhs in his ITC ledger and at the same time, he has a CGST output liability of ` 7 lakhs. What an amount should be deposited by Mr. X to his E-Cash ledger maintained at the GSTN portal |
| A. | No deposit is required |
| B. | 2 Lakhs |
| C. | 5 Lakhs |
| D. | 7 Lakhs |
| Answer» E. | |
| 259. |
specifies the activities which are neither to be treated as supply of goods nor a supplyof services. |
| A. | Schedule I of CGST Act |
| B. | Schedule II of CGST Act |
| C. | Schedule III of CGST Act |
| D. | All of the above |
| Answer» D. All of the above | |
| 260. |
Transportation of agricultural produces, milk, salt and food grain including flour, pulses and rice, ‘relief materials meant for victims of natural or man-made disasters, calamities, accidents or mishap’, newspaper or magazines registered with the Registrar of Newspapers - is exempted – |
| A. | If it is by a goods transport agency |
| B. | If it is by a rail - within India |
| C. | If it is by a vessel - within India |
| D. | If it is by all of the above |
| Answer» E. | |
| 261. |
Can a registered person opt for composition scheme only for one out of his 3 business placeshaving same Permanent Account Number? |
| A. | Yes |
| B. | No |
| C. | Yes, subject to prior approval of the Central Government |
| D. | Yes, subject to prior approval of the concerned State Government |
| Answer» C. Yes, subject to prior approval of the Central Government | |
| 262. |
What is time of supply of goods, in case of forward charge? |
| A. | Date of issue of invoice |
| B. | Due date of issue of invoice |
| C. | Date of receipt of consideration by the supplier |
| D. | Earlier of (a) & (b) |
| Answer» E. | |
| 263. |
Five petroleum products viz. petroleum crude, motor spirit (petrol), high speed diesel, naturalgas and aviation turbine fuel have been kept out of GST . |
| A. | Permanently |
| B. | Temporarily |
| C. | For one year |
| D. | None of the above |
| Answer» C. For one year | |
| 264. |
For the purpose of calculating the compensation payable to the States under the Goods andService Tax (Compensation to States) Act, 2017 the base year for reckoning the Revenue is : |
| A. | 31.3.2014 |
| B. | 31.3.2015 |
| C. | 31.3.2016 |
| D. | 31.3.2017 |
| Answer» D. 31.3.2017 | |
| 265. |
Service by whom, by way of any activity in relation to any function entrusted to a municipalityunder Article 243 W of the Constitution, is exempted? |
| A. | Central Government or State Government or Union territory or Local authority |
| B. | Governmental authority |
| C. | Municipality under Article 243 W of the Constitution |
| D. | All of above |
| Answer» E. | |
| 266. |
What would be the tax rate applicable in case of composite supply? |
| A. | Tax rate as applicable on principal supply |
| B. | Tax rate as applicable on ancillary supply |
| C. | Tax rate as applicable on respective supply |
| D. | None of the above |
| Answer» B. Tax rate as applicable on ancillary supply | |
| 267. |
The duties performed by any person as a Chairperson or a Member or a Director in a body established by the Central Government or a State Government or local authority and who is not deemed as an employee before the commencement of this clause shall be considered as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» D. Either as a supply of goods or a supply of services | |
| 268. |
Hospital charging room rent per day per room ` 1,200 on rooms provided to in-patients. It is |
| A. | Exempted supply |
| B. | Taxable supply |
| C. | Not at all supply |
| D. | None of the above |
| Answer» B. Taxable supply | |
| 269. |
The CGST Act, 2017 extends to |
| A. | Whole of India excluding the State of Jammu & Kashmir |
| B. | Whole of India |
| C. | Whole of India excluding the State of Jammu & Kashmir and Union territories |
| D. | Whole of India excluding the State of Jammu & Kashmir but including Union territories |
| Answer» C. Whole of India excluding the State of Jammu & Kashmir and Union territories | |
| 270. |
What is the date for applicability of TDS provisions ? |
| A. | 1-7-2017 |
| B. | 1-1-2018 |
| C. | 1-9-2018 |
| D. | 1-10-2018 |
| Answer» E. | |
| 271. |
Suppose Mr. Y has a IGST credit of ` 14 lakhs in his ITC ledger and at the same time, he has a IGST liability of ` 7 lakhs, CGST liability of ` 8 lakhs and SGST liability of ` 5 lakhs. What an amount should be deposited by Mr.Y to his E-Cash ledger maintained at the GSTN portal? |
| A. | 6 lakhs (` 1 lakhs to SGST + ` 5 lakhs to CGST) |
| B. | 6 lakhs (` 1 lakhs to CGST + ` 5 lakhs to SGST) |
| C. | 6 lakhs (` 1 lakhs to IGST + ` 5 lakhs to SGST) |
| D. | 6 lakhs (` 2 lakhs to IGST + ` 4 lakhs to SGST) |
| Answer» C. 6 lakhs (` 1 lakhs to IGST + ` 5 lakhs to SGST) | |
| 272. |
Whether definition of Inputs includes capital goods. |
| A. | Ye |
| B. | No |
| C. | Certain capital goods only |
| D. | None of the above |
| Answer» C. Certain capital goods only | |
| 273. |
Every supplier shall be liable to be registered under this Act in the State or Union Territory, other than Special Category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds |
| A. | 10 lakh |
| B. | 25 lakhs |
| C. | 1.5 crores |
| D. | 20 lakhs |
| Answer» E. | |
| 274. |
No TDS shall be made when |
| A. | Location of supplier and place of supply is in a State or Union Territory which is different from the State / UT of registration of the recipient |
| B. | Location of supplier and place of supply is in same state and location of recipient is in same state |
| C. | Location of supplier and place of supply is in different state and location of recipient is in different state |
| D. | None of the above |
| Answer» B. Location of supplier and place of supply is in same state and location of recipient is in same state | |
| 275. |
Mr. Ram supplied goods to Mr. Laxman. The invoice is dated 30.7.2019. Payment was received for the supply on 30.10.2019. The goods were dispatched on 5.8.2019. What is time of supply under GGST Act? |
| A. | 5.8.2019 |
| B. | 30.7.2019 |
| C. | 30.10.2019 |
| D. | None of the-above |
| Answer» C. 30.10.2019 | |
| 276. |
Taxable minimum turnover limit in GST that is applicable to the State of Maharashtra |
| A. | 10 lakh |
| B. | 25 lakhs |
| C. | 1.5 crores |
| D. | 20 lakhs |
| Answer» E. | |
| 277. |
Which of the following though shown in Bill will not be included in determining the value ofsupply for the purpose of GST? |
| A. | Packing |
| B. | Discount |
| C. | Interest for late payment |
| D. | Installation charges |
| Answer» C. Interest for late payment | |
| 278. |
Aggregate turnover includes |
| A. | Taxable supplie |
| B. | Exempt supplies |
| C. | Exports |
| D. | All of the above |
| Answer» E. | |
| 279. |
A service would be called as “continuous supply of service”, if the service under a contract isprovided continuously or on recurrent basis exceeding: |
| A. | One year |
| B. | 6 months |
| C. | 3 months |
| D. | 1 month |
| Answer» D. 1 month | |
| 280. |
Refreshments were supplied on board in an aircraft proceeding from Chennai to Delhi. It had astop at Hyderabad. The refreshments were taken on board at Hyderabad. The place of supply is |
| A. | Delhi |
| B. | Chennai |
| C. | Hyderabad |
| D. | None of the above |
| Answer» D. None of the above | |
| 281. |
Supply of goods in the course of import into the territory of India is |
| A. | Intrastate supply |
| B. | Inter-State supply |
| C. | Export |
| D. | Neither Export nor Import |
| Answer» C. Export | |
| 282. |
How the aggregate turnover of ` 20 lakh is calculated ? |
| A. | Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person having same PAN computed on all India basis. |
| B. | Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person computed for each state separately. |
| C. | Aggregate value of all taxable intrastate supplies, export of goods/services and exempt supplies of a person having same PAN computed for each state separately. |
| D. | Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person having same PAN computed on all India basis and excluding taxes if any charged under CGST Act, SGST Act and IGST Act. |
| Answer» E. | |
| 283. |
Mr. Bala has made supply (within State) of taxable goods to the tune of ` 17 lakh, export supplies of ` 3 lakh and intra-State supply of exempt services of ` 4 lakh. His aggregate turnover as per section 2(6) of the CGST/ SGST Act, 2017 is |
| A. | 17 lakh |
| B. | 20 lakh |
| C. | 24 lakh |
| D. | None of the above |
| Answer» D. None of the above | |
| 284. |
The shall be treated as supply even if made without consideration |
| A. | Permanent transfer or disposal of business assets where input tax credit has been availed on such assets. |
| B. | Permanent transfer or disposal of business assets where input tax credit has NOT been availed on such assets. |
| C. | Both of the above |
| D. | None of the above |
| Answer» B. Permanent transfer or disposal of business assets where input tax credit has NOT been availed on such assets. | |
| 285. |
A non-resident taxable person is required to apply for registration |
| A. | within 30 days from the date on which he becomes liable to registration |
| B. | within 60 days from the date on which he becomes liable to registration |
| C. | at least 5 days prior to the commencement of business |
| D. | none of the above |
| Answer» D. none of the above | |
| 286. |
What is the validity of the registration certificate issued to casual taxable person and non-residenttaxable person? |
| A. | 90 days from the effective date of registration |
| B. | Period specified in the application for registration |
| C. | Earliest of (a) or (b) above |
| D. | 180 days from the effective date of registration |
| Answer» D. 180 days from the effective date of registration | |
| 287. |
What is the time of supply of service in case of reverse charge mechanism? |
| A. | Date of payment as entered in the books of account of the recipient |
| B. | Date immediately following 60 days from the date of issue of invoice |
| C. | Date of invoice |
| D. | Earlier of (a) and (b) |
| Answer» E. | |
| 288. |
Where the application for grant of registration has been approved, a certificate of registration in shall be made available to the applicant on the |
| A. | FORM GST REG-06, Common Portal |
| B. | FORM GST CER-06, Common Portal |
| C. | FORM GST CER-06, Jurisdictional office |
| D. | FORM GST REG-10, Company portal |
| Answer» B. FORM GST CER-06, Common Portal | |
| 289. |
Petroleum products have been temporarily been kept out of GST. |
| A. | One |
| B. | Two |
| C. | Three |
| D. | Five |
| Answer» E. | |
| 290. |
GT Jewellers Ltd. paid ` 50 lakhs for sponsorship of Miss India beauty pageant in Mumbai toStylist & Co. a partnership firm. GST is liable to be paid by |
| A. | GT Jewellers Ltd. |
| B. | Miss India beauty pageant |
| C. | Stylish & Co. |
| D. | Exempted Supply |
| Answer» B. Miss India beauty pageant | |
| 291. |
GST Council comprises of various persons from Union and States and is being headed by aChair Person who is |
| A. | Finance Secretary to Government of India |
| B. | Union Finance Minister |
| C. | Any State Finance Minister |
| D. | Union Revenue Minister |
| Answer» C. Any State Finance Minister | |
| 292. |
GST is a national level tax based on . |
| A. | First point tax principle |
| B. | Value Added principle |
| C. | Last point tax principle |
| D. | All of the above |
| Answer» C. Last point tax principle | |
| 293. |
Mr. A booked a Rajdhani train ticket, which includes meal. It is |
| A. | Composite supply |
| B. | Mixed supply |
| C. | Not at all supply |
| D. | None of the above |
| Answer» B. Mixed supply | |
| 294. |
Mr. Pankaj of Delhi supplied goods to Mr. Krishna of Delhi for ` 1 lakh, on which total GST was charged @ 12%. Mr. Krishna, after purchase of goods, added 20% margin of profit (on cost) and sold the entire goods to Mr. Ravi of Delhi. The total amount of tax payable after claiming input tax on such transaction by Mr. Krishna is: |
| A. | 12,000 |
| B. | 14,400 |
| C. | 2,400 |
| D. | None of the above |
| Answer» D. None of the above | |
| 295. |
From the following information determine the value of taxable supply as per provisions of Section 15 of the CGST Act, 2017?Contracted value of supply of goods (including GST @ 18%) 11,80,000 The contracted value of supply includes the following: (1) Cost of primary packing 25,000 (2) Cost of protective packing at recipient’s request for safe transportation 15,000 |
| A. | 10,00,000 |
| B. | 11,80,000 |
| C. | 11,55,000 |
| D. | 11,40,000 |
| Answer» B. 11,80,000 | |
| 296. |
Actionable claims, other than lottery, betting and gambling shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» D. Either as a supply of goods or a supply of services | |
| 297. |
Who can submit application for registration in Form GST REG-09? |
| A. | Non- Resident taxable person |
| B. | Input service distributor |
| C. | Person deducting tax at source |
| D. | Person collecting tax at source |
| Answer» B. Input service distributor | |
| 298. |
The exception to the general rule that "normally, the supplier of goods and services is liable to pay tax on supply, even if he does not collect from his customer i.e. recipient of supply of goods and services" shall be applicable where there are |
| A. | supply from an unregistered dealer to registered dealer |
| B. | specified services through an e-commerce operator |
| C. | both (a) and (b) |
| D. | none of the above |
| Answer» D. none of the above | |
| 299. |
An E-commerce operator should get registered irrespective of his threshold limit? |
| A. | Yes |
| B. | No, required to register only if his aggregate turnover exceeds the threshold limit. |
| C. | He is required to register if he is liable to collect tax at source and his aggregate turnover exceeds the threshold limit. |
| D. | None of the above |
| Answer» B. No, required to register only if his aggregate turnover exceeds the threshold limit. | |
| 300. |
Place of supply of goods, other than supply of goods imported into, or exported from India,where the goods are assembled or installed is the |
| A. | Location of the agent of the recipient |
| B. | Location of the recipient |
| C. | Location of the supplier |
| D. | Place of the such assembly or installation |
| Answer» E. | |