MCQOPTIONS
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MCQOPTIONS
This section includes 128 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Management Studies (BMS) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
Supplier ______________. |
| A. | 2(107) of CGST Act |
| B. | 2(105) pf CGST Act |
| C. | 2(84) of CGST Act |
| D. | 2(52) of CGST Act |
| Answer» C. 2(84) of CGST Act | |
| 52. |
Input means _________ |
| A. | Any goods of Excluding capital goods |
| B. | Any goods including capital goods |
| C. | Capital Goods only |
| D. | Capital goods used for the furtherance of the business. |
| Answer» B. Any goods including capital goods | |
| 53. |
Input means any goods other than _________goods. |
| A. | Capital |
| B. | Consumables |
| C. | Consumer |
| D. | Intangible |
| Answer» B. Consumables | |
| 54. |
Goods means every kind of _____ property. |
| A. | Movable |
| B. | Immovable |
| C. | Unmovable |
| D. | Movable & Immovable |
| Answer» B. Immovable | |
| 55. |
E Commerce Operators __________________ |
| A. | 2 (75) of CGST Act |
| B. | 2(102) of CGST Act |
| C. | 2(31) of CGST Act |
| D. | 2(45) of CGST Act |
| Answer» E. | |
| 56. |
Time period within which invoice has to be issued in case of movable gods ____________ |
| A. | Before or at the time of removal of goods |
| B. | On or rather delivery of good |
| C. | After removal of goods |
| D. | None |
| Answer» C. After removal of goods | |
| 57. |
On which one of the following items, GST will be levied? |
| A. | Aviation Fuel |
| B. | Natural Gas |
| C. | High Speed Diesel Oil |
| D. | Liquefied Petroleum Gas |
| Answer» E. | |
| 58. |
Works of contract in GST is ______________. |
| A. | Supply of goods |
| B. | Supply of Service |
| C. | Supply of both |
| D. | Neither supply of goods nor supply of services |
| Answer» C. Supply of both | |
| 59. |
Under GST, smart phones will be taxed at _____________ percent? |
| A. | 5 % |
| B. | 12% |
| C. | 18% |
| D. | 28% |
| Answer» D. 28% | |
| 60. |
Taxes in India are levied by _______________. |
| A. | Constitution of India |
| B. | CBEC |
| C. | CBDT |
| D. | Parliament of India |
| Answer» B. CBEC | |
| 61. |
List I ____________. |
| A. | State List |
| B. | Union List |
| C. | Concurrent List |
| D. | Central Goods & Service tax |
| Answer» C. Concurrent List | |
| 62. |
GST is a ______________ based Tax. |
| A. | Destination |
| B. | Manufacturing |
| C. | Services |
| D. | Entry Tax. |
| Answer» B. Manufacturing | |
| 63. |
Import under GST will be considered as ______________. |
| A. | Intra State Sale |
| B. | inter State Sale |
| C. | Sourced Based |
| D. | Destination based |
| Answer» C. Sourced Based | |
| 64. |
India _________________. |
| A. | 2(84) of GCST Act |
| B. | 2(56) of CGST Act |
| C. | 2 (84) of CGST Act |
| D. | 2 (75) of CGST Act |
| Answer» C. 2 (84) of CGST Act | |
| 65. |
Where the location of the supplier and the place of supply are in two different States – |
| A. | igst is applicable |
| B. | cgst is applicable |
| C. | sgst plus cgst is applicable |
| D. | cgst plus igst is applicable |
| Answer» B. cgst is applicable | |
| 66. |
In example (8) above, if invoice is raised on 10-7-2018 and amount is received on 20-6-2018 everything else being same, time of supply will be ------ and tax rate levied will be-----. |
| A. | 20-6-2018,28% |
| B. | 10-7-2018,15% |
| C. | 20-6-2018,15% |
| D. | 10-7-2018,28% |
| Answer» C. 20-6-2018,15% | |
| 67. |
Central & excise duty shall be levied in addition to GST on ------ |
| A. | petroleum products |
| B. | alcohol products |
| C. | tobacco and tobacco products |
| D. | alcohol for human consumption |
| Answer» C. tobacco and tobacco products | |
| 68. |
In a case where passenger transportation service is provided to an unregistered person, place of supply will be------ |
| A. | location of recipient |
| B. | location of transporter |
| C. | location of the destination |
| D. | location where journey starts |
| Answer» C. location of the destination | |
| 69. |
The definition of goods under the GST Act does not include----- |
| A. | grass |
| B. | growings crops |
| C. | actionable claims |
| D. | money & securities |
| Answer» E. | |
| 70. |
GST was introduced in India with effect from |
| A. | 1.1.2017 |
| B. | 1.4.2017 |
| C. | 1.1.2018 |
| D. | 1.7.2017 |
| Answer» E. | |
| 71. |
Goods and service tax is -- |
| A. | supply based |
| B. | consumption based |
| C. | both supply and consumption based |
| D. | transaction based |
| Answer» C. both supply and consumption based | |
| 72. |
SGST is applicable when |
| A. | goods are sold within a state |
| B. | goods are sold from one gst dealer to a customer |
| C. | goods are sold by a gst dealer to another gst dealer |
| D. | interstate supply |
| Answer» B. goods are sold from one gst dealer to a customer | |
| 73. |
Inter-state trade is presently subject to |
| A. | sgst |
| B. | cgst |
| C. | integrated gst |
| D. | utgst |
| Answer» D. utgst | |
| 74. |
GST can be collected by |
| A. | any registered dealer |
| B. | any gst dealer |
| C. | any service provider |
| D. | any dealer |
| Answer» C. any service provider | |
| 75. |
The chair of GST Council |
| A. | nominated by the govt |
| B. | nominated by the gst council |
| C. | union finance minister |
| D. | elected by the gst council |
| Answer» D. elected by the gst council | |
| 76. |
Where the location of the supplier and the place of supply are in two different States – |
| A. | igst is applicable |
| B. | cgst is applicable |
| C. | sgst plus cgst is applicable |
| D. | cgst plus igst is applicable |
| Answer» B. cgst is applicable | |
| 77. |
One tooth paste and tooth brush and a toilet soap sold in a packet for Rs. 50, is |
| A. | mixed supply |
| B. | composite supply |
| C. | joint supply |
| D. | not supply |
| Answer» B. composite supply | |
| 78. |
The notified limit for payment of composition levy is - |
| A. | rs. 1 crore |
| B. | rs. 20lakh |
| C. | rs. 50 lakh |
| D. | rs. 2 crore |
| Answer» B. rs. 20lakh | |
| 79. |
A Composite taxpayer is required to file summarised details of transactions |
| A. | annually |
| B. | half yearly |
| C. | quarterly |
| D. | monthly |
| Answer» D. monthly | |
| 80. |
GSTR-6A is meant for |
| A. | gst dealers |
| B. | composition scheme taxpayers |
| C. | ecommerce operators |
| D. | input service distributor |
| Answer» E. | |
| 81. |
GST council meeting is convened |
| A. | every week |
| B. | every month |
| C. | every 3 months |
| D. | any time as required |
| Answer» D. any time as required | |
| 82. |
The proper officer may assess the tax liability on the basis of available information, evidences which is called |
| A. | best judgement assessment |
| B. | provisional assessment |
| C. | self assessment |
| D. | protective assessment |
| Answer» B. provisional assessment | |
| 83. |
The Central Goods and Services Tax is levied under |
| A. | section 9 of the cgst act |
| B. | section 10 cgst act |
| C. | section 8 of the igst act |
| D. | section 2 of the sgst act |
| Answer» B. section 10 cgst act | |
| 84. |
GSTR-2A is autogenerated from |
| A. | gstr 3 |
| B. | gstr 2 |
| C. | gstr 2a |
| D. | gstr1 |
| Answer» E. | |
| 85. |
GST number does not include |
| A. | pan |
| B. | state code |
| C. | aadhaar number |
| D. | alphabet z |
| Answer» D. alphabet z | |
| 86. |
The managers of ITC Ltd., Kolkata (not registered under GST) are given one week trainning in Munnar, by Infosys Ltd. Bangalore, for a sum of Rs. 10 Lakhs. Payment given at Mumbai.The place of supply of service is |
| A. | mumbai |
| B. | kolkata |
| C. | munnar |
| D. | bangalore |
| Answer» B. kolkata | |
| 87. |
Where location of the supplier and the place of supply are in two different Union territories |
| A. | cgst plus utgst is applicable |
| B. | igst is applicable |
| C. | sgst plus utgst is applicable |
| D. | cgst plus igst is applicable |
| Answer» C. sgst plus utgst is applicable | |
| 88. |
Supply of two or more taxable supplies naturally bundled and supplied is called |
| A. | mixed supply |
| B. | composite supply |
| C. | common supply |
| D. | continuous supply |
| Answer» C. common supply | |
| 89. |
The maximum limit of IGST rate fixed in the Act is |
| A. | 18% |
| B. | 28% |
| C. | 40% |
| D. | 100% |
| Answer» D. 100% | |
| 90. |
Integrated Goods and Services Tax Act is applicable to |
| A. | all the states |
| B. | all the union territories |
| C. | the whole of india |
| D. | all the states except jammu and kashmir |
| Answer» D. all the states except jammu and kashmir | |
| 91. |
Supply of goods provided, or agreed to be provided, continuously or on recurrent basis, under a contract, is |
| A. | mixed supply |
| B. | composite supply |
| C. | common supply |
| D. | continuous supply |
| Answer» E. | |
| 92. |
Composite tax is applicable for dealer with turnover upto |
| A. | rs. 1 crore |
| B. | rs. 20 lakh |
| C. | rs. 1.5 crore |
| D. | rs. 10 crore |
| Answer» D. rs. 10 crore | |
| 93. |
Dealers whose annual turnover between Rs.1.5 crore and Rs. 5 crore need to use |
| A. | two-digit hsn code |
| B. | four digit hsn codes |
| C. | four digit hsn codes |
| D. | eight digit hsn codes |
| Answer» C. four digit hsn codes | |
| 94. |
Integrated Goods and services Tax is applicable when- |
| A. | sold in union territory |
| B. | sold from one gst dealer to another gst dealer |
| C. | sold within a state |
| D. | there is interstate supply |
| Answer» E. | |
| 95. |
Gifts not exceeding----- in a year by an employer to employee shall not be treated as supply. |
| A. | rs. 5,000 |
| B. | rs. 10,000 |
| C. | rs. 50,000 |
| D. | rs. 1,00,000 |
| Answer» D. rs. 1,00,000 | |
| 96. |
The place of supply of telecommunication services shall be |
| A. | the location where connection is installed |
| B. | place of office of the services provider |
| C. | place of payment |
| D. | place of supply not relevant |
| Answer» B. place of office of the services provider | |
| 97. |
Where location of the supplier and place of supply are in a State and a Union territory |
| A. | cgst plus utgst is applicable |
| B. | cgst plus igst is applicable |
| C. | sgst plus utgst is applicable |
| D. | igst is applicable |
| Answer» E. | |
| 98. |
Place of supply of goods exported from India shall be |
| A. | the location outside india |
| B. | the location of the exporter |
| C. | state in which exported goods reaches first |
| D. | place of supply not applicable. |
| Answer» B. the location of the exporter | |
| 99. |
Where the location of the supplier and the place of supply are in two different States- |
| A. | igst is applicable |
| B. | cgst is applicable |
| C. | sgst plus cgst is applicable |
| D. | cgst plus igst is applicable |
| Answer» B. cgst is applicable | |
| 100. |
Ms. Pooja supplied services to Ms. Smita on 5-7-2018.She raised an invoice on 20-6-2018 and recived the amount on 10-7-2018. The tax rate for these services was changed from 15% to 28% on 1-7-2018. The time of supply will be------ and tax rate levied will be----- |
| A. | 20-6- 2018,28% |
| B. | 10-7-2018,28% |
| C. | 20-6- 2018,15% |
| D. | 10-7-2018,15% |
| Answer» C. 20-6- 2018,15% | |