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.
| 351. |
Eligibility of credit on capital goods in case of change of scheme from Composition scheme toRegular scheme |
| A. | Eligible during application for Regular scheme |
| B. | Not eligible |
| C. | Yes, immediately before the date from which he becomes liable to pay tax under the Regular scheme |
| D. | None of the above |
| Answer» D. None of the above | |
| 352. |
Which of the following require compulsory registration, irrespective of threshold limit ? |
| A. | Casual taxable person |
| B. | Non Resident taxable person |
| C. | Person liable to pay under Reverse Charge Mechanism |
| D. | All of the above |
| Answer» E. | |
| 353. |
Works contract as defined in section 2 (119) 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» C. Neither as a supply of goods nor a supply of services | |
| 354. |
means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply. |
| A. | Mixed Supply |
| B. | Principal Supply |
| C. | Inward Supply |
| D. | Exempt Supply |
| Answer» B. Principal Supply | |
| 355. |
Transportation of by a GTA in a goods carriage is exempt from GST. |
| A. | Agricultural produce |
| B. | Organic manure |
| C. | Milk |
| D. | All of the above |
| Answer» E. | |
| 356. |
The shall be treated as supply even if made without consideration. |
| A. | Supply of goods by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; |
| B. | Supply of goods by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal. |
| C. | Permanent transfer or disposal of business assets where input tax credit has been availed on such assets |
| D. | All of the above |
| Answer» E. | |
| 357. |
When can a voluntarily registration be cancelled? |
| A. | If the person does not start business within six months from the date of registration. |
| B. | Business has been discontinued or transferred for any reason. |
| C. | Non-filing of returns for a continuous period of six months or for three consecutive tax period in case of composite dealer. |
| D. | All of the above |
| Answer» E. | |
| 358. |
Which of the following is not covered under the term “Goods” under GST ? |
| A. | Money |
| B. | Actionable Claim |
| C. | Securities |
| D. | Both (a) & (c) |
| Answer» E. | |
| 359. |
The activities to be treated as supply of goods or supply of services as referred to in ofCGST Act, 2017. |
| A. | Schedule I of CGST Act |
| B. | Schedule II of CGST Act |
| C. | Schedule III of CGST Act |
| D. | Section 7 |
| Answer» C. Schedule III of CGST Act | |
| 360. |
GST TDS provisions can apply where total value of such supply, under a contract, exceedsrupees . |
| A. | 1 lakh |
| B. | 1.5 lakhs |
| C. | 5 lakhs |
| D. | 2.5 lakhs |
| Answer» E. | |
| 361. |
GST is not levied on which of the following ? |
| A. | Alcoholic Liquor for Human Consumption |
| B. | Five Petroleum Products |
| C. | Immovable Property |
| D. | All of above |
| Answer» E. | |
| 362. |
Services by a recovery agent to M/s ZZZ Bank Ltd., are liable for GST in the hands of: |
| A. | M/s ZZZ Bank Ltd. |
| B. | Recovery agent |
| C. | Both the above |
| D. | None of the above |
| Answer» B. Recovery agent | |
| 363. |
An exempt supply includes |
| A. | Supply of goods or services or both which attracts Nil rate of tax |
| B. | Non-taxable supply |
| C. | Supply of goods or services or both which are wholly exempt from tax under Section 11 of the CGST Act or under Section 6 of IGST Act |
| D. | All of the above |
| Answer» E. | |
| 364. |
A new supplier has taxable intra-State sales, exempt intra-State sales and export sales of goods.He should get himself registered under GST law, where |
| A. | the aggregate value of taxable intra-State goods exceeds ` 20 lakhs |
| B. | the aggregate value of taxable as well as exempt intra-State goods exceeds ` 20 lakhs |
| C. | the aggregate value of all the three items exceeds ` 20 lakhs |
| D. | the aggregate value of taxable intra-State goods as well as export sales exceeds ` 20 lakhs |
| Answer» D. the aggregate value of taxable intra-State goods as well as export sales exceeds ` 20 lakhs | |
| 365. |
What is the time of supply of vouchers in respect of services when the supply with respect to thevoucher is identifiable? |
| 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» B. Date of redemption of voucher | |
| 366. |
Supply shall attract IGST? |
| A. | Intra-State |
| B. | Inter-State |
| C. | Both |
| D. | none |
| Answer» C. Both | |
| 367. |
When an unregistered dealer supplied goods to a registered dealer, the time of supply under reverse charge shall be earliest of the |
| A. | date of receipt of good |
| B. | date of supply of goods |
| C. | date of loading of goods in transport |
| D. | date of intimation of supply of goods |
| Answer» B. date of supply of goods | |
| 368. |
The time of supply to the extent it relates to an addition in the value of supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on which |
| A. | The supplier receives such addition in value |
| B. | The original invoice was issued |
| C. | The supplier issues revised invoice |
| D. | The original payment was received |
| Answer» B. The original invoice was issued | |
| 369. |
Can a supplier take credit of the TCS ? |
| A. | Yes |
| B. | No |
| C. | Yes, on the basis of the valid return filed |
| D. | Yes, on the basis of a valid return filed by the e-commerce operator and there is no discrepancy |
| Answer» E. | |
| 370. |
Which of the following are exempted services? |
| A. | Services by an artist by way of a performance in folk or classical art forms of music/ dance / theatre with consideration therefor not exceeding ` 1 lakh |
| B. | Services by an artist by way of a performance in folk or classical art forms of music/ dance with consideration therefor not exceeding ` 1.5 lakh |
| C. | Services by an artist by way of a performance in folk or classical art forms of music/ dance / theatre with consideration therefor not exceeding ` 1.5 lakh |
| D. | Services by an artist as a brand ambassador by way of a performance in folk or classical art forms of music/ dance / theatre with consideration therefor not exceeding ` 1.5 lakh |
| Answer» D. Services by an artist as a brand ambassador by way of a performance in folk or classical art forms of music/ dance / theatre with consideration therefor not exceeding ` 1.5 lakh | |
| 371. |
GST in India is levied on the basis of |
| A. | Consumption principle |
| B. | Set-off against that payable principle |
| C. | Destination base principle |
| D. | Both consumption and destination base principle |
| Answer» E. | |
| 372. |
is levied on inter-state supply of goods and services. |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | Both (a) and (b) |
| Answer» D. Both (a) and (b) | |
| 373. |
What does ‘I’ stands for in IGST? |
| A. | International |
| B. | Internal |
| C. | Integrated |
| D. | Intra |
| Answer» D. Intra | |
| 374. |
An E-commerce operator should get registered? |
| A. | Yes, irrespective of threshold limit |
| B. | No, required to register only if his aggregate turnover exceeds the threshold limit. |
| C. | Yes, if he is located in North-western states. |
| D. | He is required to register if he is liable to collect tax at source and /or his aggregate turnover |
| Answer» E. | |
| 375. |
The tax under GST legislation in India is being levied: |
| A. | Exclusively by Union and State Law |
| B. | Simultaneously by Union and State Laws |
| C. | Only by Union Laws |
| D. | Only by State Laws |
| Answer» C. Only by Union Laws | |
| 376. |
Sitting fees received by director of XYZ Ltd., is liable for GST in the hands of the |
| A. | Director |
| B. | XYZ Ltd. |
| C. | Both of above |
| D. | None of the above |
| Answer» C. Both of above | |
| 377. |
Transportation of goods is not exempted if it is - |
| A. | by a goods transport agency / courier agency |
| B. | by inland waterways |
| C. | by an aircraft from a place outside India upto the customs station of clearance in India |
| D. | by all the above mentioned |
| Answer» B. by inland waterways | |
| 378. |
A Company has head office in Bangalore and 4 branches in different states, all registered underGST and one ISD registered unit in Delhi. How many electronic cash ledgers will the company have? |
| A. | 1 |
| B. | 4 |
| C. | 5 |
| D. | 6 |
| Answer» D. 6 | |
| 379. |
Which is not considered as supply under GST Law ? |
| A. | Stock transferred from one establishment in Delhi to another establishment in Gurgaon, Haryana registered under same PAN. |
| B. | CA Ram supplies accounting services to CA Radha in lieu of taxation services received from CA Radha. |
| C. | A Health club supplies lunch to its members at its annual meeting against a nominal charge |
| D. | Mr. A sells a flat to Mr. B (i) Date of completion certificate - 31-1-2020 (ii) Date of agreement with buyer - 1-2-2020 (iii) Consideration received - 5-2-2020 |
| Answer» E. | |
| 380. |
Rohan Toys is a registered supplier of goods in Delhi. It intends to attend a 7 days’ Business Fair organised in Mumbai (next month) where it does not have a fixed place of business. Examinewhich of the following statements are true for Rohan Toys: |
| A. | Rohan Toys is not required to obtain registration in Mumbai for attending a 7 days’ Business Fair. |
| B. | Rohan Toys has to obtain registration as a casual taxable person for attending the Business Fair. |
| C. | Rohan Toys has to obtain a Unique Identification Number for attending the Business Fair. |
| D. | None of the above |
| Answer» C. Rohan Toys has to obtain a Unique Identification Number for attending the Business Fair. | |
| 381. |
In case of lottery procured from State Government by a lottery distributor, GST is payable by: |
| A. | Lottery distributor |
| B. | State Government |
| C. | Both the above |
| D. | None of the above |
| Answer» B. State Government | |
| 382. |
Cross-Utilization of credit of available IGST after utilization towards payment of IGST is done inthe following chronological order : |
| A. | CGST then SGST/UTGST |
| B. | SGST/UTGST then CGST |
| C. | CGST, UTGST and SGST simultaneously |
| D. | Only IGST |
| Answer» B. SGST/UTGST then CGST | |
| 383. |
The liability to pay tax on goods shall arise at the . |
| A. | Dispatch of good |
| B. | Time of supply |
| C. | Removal of goods |
| D. | Delivery of goods |
| Answer» C. Removal of goods | |
| 384. |
From the following information determine the reverse charge basis.Date of Invoice : 30-1-2019 Date of completion of service : 30-1-2019 Date of payment by recipient : 10-2-2019 Entry for receipt of service in recipient’s books : 12-2-2019 |
| A. | Date of Invoice : 30-1-2019 |
| B. | Date of payment by recipient : 10-2-2019 |
| C. | Entry for receipt of service in recipient’s books : 12-2-2019 |
| D. | None of the above |
| Answer» C. Entry for receipt of service in recipient’s books : 12-2-2019 | |
| 385. |
Deposits towards tax, penalty, interest, fee or any other amount are credited into the ofa taxable person. |
| A. | Electronic Credit Ledger |
| B. | Electronic Tax Liability Ledger |
| C. | Electronic Cash Ledger |
| D. | All of the above |
| Answer» D. All of the above | |
| 386. |
Services by an employee to the employer in the course of or in relation to his employment is. |
| A. | Supply of good |
| 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 | |
| 387. |
Shall a dealer making the exclusive supply of Liquor or Petrol, Diesel and Crude Oil have to takeregistration under the GST Act? |
| A. | Ye |
| B. | No |
| C. | Optional |
| D. | Either (a) or (c) |
| Answer» C. Optional | |
| 388. |
In case of inter-state stock transfer |
| A. | CGST will be levied |
| B. | IGST will be levied |
| C. | CGST and SGST will be levied |
| D. | No tax will be levied, as there is no supply |
| Answer» C. CGST and SGST will be levied | |
| 389. |
Supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption), where such supply or service is for cash, deferred payment or other valuable consideration is . |
| 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 | |
| 390. |
Under GST law the phrase 'Goods' does not include |
| A. | Actionable claim |
| B. | Growing crops on the land agreed to be severed before supply |
| C. | Money and Securities |
| D. | None of the above |
| Answer» D. None of the above | |
| 391. |
For the purpose of deciding “aggregate turnover” in order to determine the GST payable undercomposition scheme, which of the following is to be excluded? |
| A. | Exemption supply |
| B. | Export of goods |
| C. | Inter-state branch transfer |
| D. | CGST |
| Answer» E. | |
| 392. |
Which of the following can be treated as "goods" under the CGST Act, 2017 ?(i) Movable Property (ii) Money and Securities (iii) Actionable Claim Select the correct answer from the options given below : |
| A. | ✔✕✔ |
| B. | ✕✔✔ |
| C. | ✕✔✕ |
| D. | ✔✕✕ |
| Answer» B. ✕✔✔ | |
| 393. |
Transfer of title in goods under an agreement which stipulates that property in goods shall passat a future date upon payment of full consideration as agreed 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» B. Supply of services | |
| 394. |
Maximum time limit for availing ITC is |
| A. | The date of filing of annual return |
| B. | Due date of filing return u/s 39 for the month of September |
| C. | Earliest of above two |
| D. | Later of above two |
| Answer» D. Later of above two | |
| 395. |
Transportation of passengers is exempted - |
| A. | In an air-conditioned railway coach |
| B. | In a vessel for public tourism purpose between places in India |
| C. | In a metered cab/auto rickshaw / e rickshaw |
| D. | In all the above mentioned |
| Answer» D. In all the above mentioned | |
| 396. |
Which of the following activity shall be treated neither as a supply of goods nor a supply of services ? (i) Permanent transfer of business assets where input tax credit has been availed on such assets (ii) Temporary transfer of intellectual property right (iii) Transportation of deceased (iv) Services by an employee to the employer in the course of employment |
| A. | (i) and (iii) |
| B. | (ii) and (iv) |
| C. | (i) and (ii) |
| D. | (iii) and (iv) |
| Answer» E. | |
| 397. |
On Petroleum Crude, High Speed Diesel, Motor Spirit (commonly known as Petrol), NaturalGas, and Aviation Turbine Fuel: |
| A. | GST will never be levied at all |
| B. | GST will be levied from a date to be notified on the recommendations of the GST Council |
| C. | GST will be levied, but it will be exempt |
| D. | None of the above |
| Answer» C. GST will be levied, but it will be exempt | |
| 398. |
Which of the following taxes have been subsumed under GST ? (1) Central Excise Duty (2) Service Tax (3) VAT (4) Luxury Tax Select the correct answer from the options given below |
| A. | (1) & (2) etc. |
| B. | (3), (1) & (2) |
| C. | All of the above |
| D. | None of the above |
| Answer» D. None of the above | |
| 399. |
Exempt supply means supply of any goods or services or both which may be wholly exempt from tax under section 11 or under section 6 of the IGST Act and includes (i) non-taxable supply (ii) zero rated supply (iii) supply having nil rate of tax (iv) composite supply |
| A. | (i), (ii) and (iii) |
| B. | (i) and (iv) |
| C. | (i) and (iii) |
| D. | All the four above |
| Answer» D. All the four above | |
| 400. |
What is the threshold limit of turnover in the preceding financial year for opting to pay tax undercomposition scheme for States other than special category States? |
| A. | 20 lac |
| B. | 10 lacs |
| C. | 50 lacs |
| D. | 1.5 crore |
| Answer» E. | |