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.
| 101. |
Supply of services Imported into the territory if India are treated as------ |
| A. | inter state supply |
| B. | intra state supply |
| C. | exempt supplies |
| D. | international supplies |
| Answer» B. intra state supply | |
| 102. |
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% | |
| 103. |
M/s. ABC of Gujarat supplies goods to M/s. XYZ of Delhi, this will classify as |
| A. | intra state supply |
| B. | export supply |
| C. | inter state supply |
| D. | deemed supply |
| Answer» D. deemed supply | |
| 104. |
Where supply is received at place other than place of business, location of recipient of services is---- |
| A. | location of place of business |
| B. | location of fixed establishment |
| C. | location of establishm ent most directly concerned |
| D. | location of usual place of residence of recipient. |
| Answer» D. location of usual place of residence of recipient. | |
| 105. |
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 | |
| 106. |
GST is charged on----- of goods or services |
| A. | manufacture or provision |
| B. | consumption |
| C. | supply |
| D. | demand |
| Answer» D. demand | |
| 107. |
Indirect Tax is a------ |
| A. | regressive |
| B. | progressive tax |
| C. | tax on tax |
| D. | value added tax. |
| Answer» E. | |
| 108. |
Every electronic commerce operator required to collect tax at source has to furnish a statement in form------ |
| A. | gstr-1 |
| B. | gstr-5 |
| C. | gstr-7 |
| D. | gstr-8 |
| Answer» D. gstr-8 | |
| 109. |
An operator can rectify any omission or incorrect particulars in furnishing the statement U/s 52(4) subject to payment of----- |
| A. | taxes |
| B. | interest |
| C. | penalty |
| D. | late fee |
| Answer» D. late fee | |
| 110. |
Every registered person required to deduct tax at source shall furnish a return in Form------- |
| A. | gstr-1 |
| B. | gstr-5 |
| C. | gstr-9 |
| D. | gstr-7 |
| Answer» E. | |
| 111. |
TDS certificate is to be issued by deductor in form----- |
| A. | gstr1a |
| B. | gstr2a |
| C. | gstr7b |
| D. | gstr7a |
| Answer» E. | |
| 112. |
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 | |
| 113. |
In case an operator fails to furnish the information required by the notice served to him U/s 52(2) within 15 days of date of service, he will be liable to pay penalty of maximum----- |
| A. | rs.5,000 |
| B. | rs.10,000 |
| C. | rs.25,000 |
| D. | rs.20,000 |
| Answer» D. rs.20,000 | |
| 114. |
Every operator who collects the amount of tax has to furnish the details of the same within----after the end of the month. |
| A. | 15 days |
| B. | 1 month |
| C. | 20 days |
| D. | 10 days |
| Answer» E. | |
| 115. |
An e-commerce operator neither having physical presence in the taxable territory not a representative in the said territory, shall----- |
| A. | not supply goods and/or services in that taxable territory. |
| B. | not be liable for collecting and paying taxes on supply in such taxable territory. |
| C. | ask the recipient to pay taxes on his behalf. |
| D. | appoint a person in the taxable territory for the purpose of paying taxes. |
| Answer» E. | |
| 116. |
Electronic Way Bill is compulsory to move goods of worth |
| A. | rs. 10,000 or more |
| B. | 20,000 or more |
| C. | 50,000 or more |
| D. | 1,00,000 or more |
| Answer» D. 1,00,000 or more | |
| 117. |
The definition of goods under the GST Act does not include-- --- |
| A. | grass |
| B. | growings crops |
| C. | actionable claims |
| D. | money & securities |
| Answer» E. | |
| 118. |
The first 2 digit of GSTIN represent------ |
| A. | entity code |
| B. | country code |
| C. | state code |
| D. | checksum character |
| Answer» D. checksum character | |
| 119. |
GST is applicable on------- of goods or services. |
| A. | supply |
| B. | manufacture |
| C. | consumpti on |
| D. | production |
| Answer» B. manufacture | |
| 120. |
If the payment to the supplier of goods or services is not made within----- from the date of issue of invoice, the input tax credit on such goods or services cannot be availed. |
| A. | 6 months |
| B. | 180 days |
| C. | 45 days |
| D. | 30 days |
| Answer» C. 45 days | |
| 121. |
A person is liable to registered under GST law where aggregate sale of good exceeds----- after 1.4.2019. in general category |
| A. | rs.40,00,000 |
| B. | rs.20,00,000 |
| C. | rs.15,00,00 0 |
| D. | rs.1,50,000 |
| Answer» B. rs.20,00,000 | |
| 122. |
The tax applicable to interstate supplies will be: |
| A. | sgst only |
| B. | cgst only |
| C. | igst only |
| D. | cgst-igst |
| Answer» D. cgst-igst | |
| 123. |
When turnover during a financial year exceeds---- the accounts and other records must be audited by a chartered accountant or a cost accountant |
| A. | 1 crore |
| B. | 2 crore |
| C. | 5 crore |
| D. | 10 crore |
| Answer» C. 5 crore | |
| 124. |
If application for registration is ------, the registration shall be effective from the date on which the person becomes liable for registration. |
| A. | made within 30 days |
| B. | not made within 30 days |
| C. | made within 60 days |
| D. | not made within 30 days |
| Answer» B. not made within 30 days | |
| 125. |
Any goods other than capital goods used or intended to be used by a supplier in the course or furtherance of business is |
| A. | input |
| B. | output |
| C. | merit goods |
| D. | white goods |
| Answer» B. output | |
| 126. |
Goods which get input tax credit without being liable to collect output tax is called |
| A. | exempt goods |
| B. | white goods |
| C. | sin goods |
| D. | zero rated goods |
| Answer» E. | |
| 127. |
Introduction of GST affects the revenue of |
| A. | consuming states |
| B. | manufacturing states |
| C. | all the states |
| D. | central government |
| Answer» D. central government | |
| 128. |
The incidence of tax is called |
| A. | tax cascading |
| B. | tax pyramiding |
| C. | tax evasion |
| D. | indirect tax |
| Answer» E. | |