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200+ Goods and Services Tax (GST) Solved MCQs

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , General Knowledge (GK) .

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101.

When can one request for GST Advance Ruling?

A. Whether the applicant has to be registered under gst
B. Determination of the liability to pay tax on any
C. all of the above
D. none of the above
Answer» C. all of the above
discuss
102.

What is an appeal?

A. Any appeal under any law is an application to a higher court for a reversal of the decision of a high
B. Any appeal under any law is an application to a higher court for a reversal of the
C. none of the above
D. NOT THE PART OF GST
Answer» B. Any appeal under any law is an application to a higher court for a reversal of the
discuss
103.

GST Offences related to Fraudulent Intent includes which of the following?

A. Knowingly supplying, transporting or storing any goods that are liable to be
B. Not registering under GST even though required to do so under GST
C. Falsification of documents/records or providing false information with
D. all of the above
Answer» D. all of the above
discuss
104.

GST Penalties', which of the following term explain it with suitability?

A. GST Penalties resulting from breach of the GST Act, 2017 are subject to fines depending on various factors including but not limited to the
B. GST Penalties resulting from breach of the GST Act, 2014 are subject to fines depending on various factors
C. all of the above
D. none of the above
Answer» A. GST Penalties resulting from breach of the GST Act, 2017 are subject to fines depending on various factors including but not limited to the
discuss
105.

GST Penalties for High Value Frauds

A. Jail term not exceeding 1 year if tax amount involved is between Rs. 100 lakhs to less than Rs. 200
B. Jail term not exceeding 3 years if tax amount involved is between Rs.200 lakhs to less than
C. Jail term not exceeding 5 years if tax amount involved is Rs. 500 lakhs or higher.
D. all of the above
Answer» D. all of the above
discuss
106.

When can the refund be claimed?

A. Finalization of provisional assessment
B. ITC accumulation due to output being tax exempt or nil-
C. Dealer Exports (including deemed export)
D. all of the above
Answer» D. all of the above
discuss
107.

What is the time limit for claiming the refund?

A. The time limit for claiming a refund is 2 years from relevant date.
B. The time limit for claiming a refund is 1 years from relevant date.
C. all of the above
D. none of the above
Answer» A. The time limit for claiming a refund is 2 years from relevant date.
discuss
108.

Offences without GST Penalties include which of the following?

A. No penalty under GST Act for charging a wrong GST rate (lower than the actual rate) but the registered
B. No penalty is applicable for delayed invoice payments. But any input tax credit
C. No penalty under GST Act for incorrect filing of GST returns but interest at the rate
D. all of the above
Answer» D. all of the above
discuss
109.

composition levy means

A. If a Registered Taxable Person issued any invoice before issue of registration certificate then such registered person may issue a revised notice for the period starting
B. A registered taxable person who opts for composition levy shall at the time of supply of goods or services not issue a tax invoice. Instead it had to issue a bill
C. all of the above
D. none of the above
Answer» B. A registered taxable person who opts for composition levy shall at the time of supply of goods or services not issue a tax invoice. Instead it had to issue a bill
discuss
110.

When a Credit note should be issued?

A. When a registered dealer issued a tax invoice for supply of goods or services and in such invoice the amount of tax charged and taxable value is more than the taxable value and tax payable,
B. Never
C. at the end of the month
D. none of the above
Answer» A. When a registered dealer issued a tax invoice for supply of goods or services and in such invoice the amount of tax charged and taxable value is more than the taxable value and tax payable,
discuss
111.

which statement is correct in terms of accounts and records

A. Every registered person shall
B. Every registered person, other than a
C. all of the above
D. none of the above
Answer» D. none of the above
discuss
112.

Who can claim ITC?

A. The dealer should be in possession of tax invoice
B. The said goods/services have been received
C. No ITC will be allowed if depreciation has
D. all of the above
Answer» D. all of the above
discuss
113.

Define "Time of supply".

A. Time of supply means the point in time when goods/services are considered supplied’. When the seller knows
B. Any amount that the supplier is liable to pay which has been incurred by the recipient and is not
C. not defined
D. not the term of gst
Answer» A. Time of supply means the point in time when goods/services are considered supplied’. When the seller knows
discuss
114.

What is Exempt Supply?

A. Supplies taxable at a ‘NIL’ rate of tax* (0% tax);
B. Supplies that are wholly or partially exempted from CGST or IGST, by way of a notification
C. Non-taxable supplies as defined under Section 2(78) – supplies that are not taxable under
D. all of the above
Answer» D. all of the above
discuss
115.

GST is a consumption of goods and services tax based

A. Development
B. Destiny
C. Duration
D. Destination
Answer» D. Destination
discuss
116.

Is Scrutiny of Returns is

A. yes
B. no
C. depends on returns
D. depends on
Answer» A. yes
discuss
117.

Every registered person is required to issue a tax invoice

A. Description of goods
B. Quantity of goods
C. Value of goods
D. ALL OF THE
Answer» D. ALL OF THE
discuss
118.

ITC on goods sent for job work, in which of the following case?

A. The principal manufacturer will be allowed to take credit
B. The principal manufacturer will be allowed to take
C. all of the above
D. none of the above
Answer» A. The principal manufacturer will be allowed to take credit
discuss
119.

Central or the State Governments are empowered to grant exemptions from

A. Exemption should be in public interest
B. Exemption by way of special order (not notification) may be
C. A&B
D. Never
Answer» C. A&B
discuss
120.

the rate of GST as applicable on goods and services are

A. 0%, 5%, 12%, 16%, 28%
B. 0%, 5%, 12%, 18%, 28%
C. 0%, 5%, 12%, 16%, 18%
D. 0%, 15%, 12%, 16%,
Answer» B. 0%, 5%, 12%, 18%, 28%
discuss
121.

In India, the GST is a dual model of

A. UK
B. Canada
C. France
D. China
Answer» B. Canada
discuss
122.

What are the proposed

A. overall reduction in
B. decrease in \black\
C. all of the above
D. none of the
Answer» C. all of the above
discuss
123.

Goods can be sent to job worker:

A. From principal’s place of business
B. Directly from the place of supply of
C. all of the above
D. none of the above
Answer» C. all of the above
discuss
124.

How to calculate the GST payment to be made?

A. Usually, the Input Tax Credit should be reduced from Outward Tax Liability to
B. TDS/TCS will be reduced from the total GST to arrive at the net payable
C. Also, ITC cannot be claimed on interest and late fees. Both Interest
D. all of the above
Answer» D. all of the above
discuss
125.

. Which of the following taxes have been subsumed in GST?

A. Central sales tax
B. Central excise duty
C. VAT
D. All of the above
Answer» D. All of the above
discuss
126.

GST is levied on supply of all goods and service except.....

A. Alcoholic liquor for human consumption
B. Tobacco
C. Health care service
D. All of the above
Answer» A. Alcoholic liquor for human consumption
discuss
127.

The functions of goods and services network (GSTN) include....

A. Facilitating registration
B. Forwarding the return to central and state authorities
C. Computation and settlement of GST
D. All of the above
Answer» D. All of the above
discuss (2)
128.

Aggregate turnover does not include-

A. Inward supplies on which tax is payable on reverse charge basis
B. Exempt supplies
C. Export of goods or services or both
D. Inter-State supplies of persons having the same PAN number
Answer» A. Inward supplies on which tax is payable on reverse charge basis
discuss
129.

Which of the following are benefits of GST?
1) Creation of unified national market
2) Boost to ‘Make in India' initiative
3) Reduction of compliance burden on taxpayers
4) Buoyancy to the Government Revenue
5) Elimination of multiple taxes and double taxation
Select the correct answer from the options given below

A. 1, 3, 4 & 5
B. 2, 3, 4 & 5
C. 1, 2, 4 and 5
D. 1, 2, 3, 4 and 5
Answer» C. 1, 2, 4 and 5
discuss
130.

. Which of the following is/are included in definition of “Goods” as defined under section 2(52) of the CGST Act, 2017- I. Money
II. Actionable claim
III. Security
IV. Growing crops
Select the correct answer from the options given below

A. IV only
B. II & III
C. II & IV
D. I & II
Answer» C. II & IV
discuss
131.

A __________ supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts highest rate of tax.

A. Composite
B. Mixed
C. Both (a) and (b)
D. None of the above
Answer» B. Mixed
discuss
132.

. GST is a comprehensive tax regime covering _________

A. Good
B. Services
C. Both goods and services
D. Goods, services and imports
Answer» C. Both goods and services
discuss
133.

What are the taxes levied on an intra-State supply?

A. CGST
B. SGST
C. CGST and SGST
D. IGST
Answer» C. CGST and SGST
discuss
134.

. Who will notify the rate of tax to be levied under CGST Act?

A. Central Government
B. State Government
C. GST Council
D. Central Government as per the recommendations of the GST Council
Answer» D. Central Government as per the recommendations of the GST Council
discuss
135.

. Which of the following taxes will be levied on imports?

A. CGST
B. SGST
C. IGST
D. CGST and SGST
Answer» C. IGST
discuss
136.

. Which of the following is not included in aggregate turnover?

A. Exempt supplies of goods or services or both
B. Export of goods or services or both
C. Inter-State supply of goods or services or both
D. Value of inward supplies on which tax is paid under reverse charge
Answer» D. Value of inward supplies on which tax is paid under reverse charge
discuss
137.

. The IGST Act,2017 extends to the

A. Whole of India except the state of Jammu & Kashmir
B. Whole of India
C. Whole of India except the state of Jammu & Kashmir & Pondicherry
D. None of the above
Answer» B. Whole of India
discuss
138.

. 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» D. Earlier of (a) & (b)
discuss
139.

. What is time of supply of goods, in case of supplier opting for composition levy under Section 10 of the CGST Act, 2017?

A. Date of issue of invoice
B. Date of receipt of consideration by the supplier
C. Latter of (a) & (b)
D. Earlier of (a) & (b)
Answer» D. Earlier of (a) & (b)
discuss
140.

. What is the time of supply of vouchers when the supply with respect to the voucher is identifiable?

A. Date of issue of voucher
B. Date of redemption of voucher
C. Earlier of (a) & (b)
D. (a) & (b) whichever is later
Answer» A. Date of issue of voucher
discuss
141.

. What is the time of supply of vouchers when the supply with respect to the voucher is not identifiable?

A. Date of issue of voucher
B. Date of redemption of voucher
C. Earlier of (a) & (b)
D. (a) & (b) whichever is later
Answer» B. Date of redemption of voucher
discuss
142.

. What is the time of supply of service if the invoice is issued within 30 days from the date of provision of service?

A. Date of issue of invoice
B. Date on which the supplier receives payment
C. Date of provision of service
D. Earlier of (a) & (b)
Answer» D. Earlier of (a) & (b)
discuss
143.

. What is the time of supply of service where services are received from an associated enterprise located outside India?

A. Date of entry of services in the books of account of recipient of service
B. Date of payment
C. Earlier of (a) & (b)
D. Date of entry of services in the books of the supplier of service
Answer» C. Earlier of (a) & (b)
discuss
144.

. Time of supply means

A. The point in time when GST is actually paid by the supplier of goods or services
B. The point in time when GST is actually paid after taking input credit by the supplier of goods or services
C. The point in time when goods have been deemed to be supplied or services have been deemed to be provided
D. The point in time when GST return is filed by the supplier of goods or services
Answer» C. The point in time when goods have been deemed to be supplied or services have been deemed to be provided
discuss
145.

. What is the time of supply of services where the supplier is liable to pay tax under forward charge and the invoice is not issued within prescribed period under section 31(2)?

A. Date of issue of invoice
B. Date of completion of provision of services
C. Date of receipt of payment
D. Date of completion of provision of service or date of receipt of payment; whichever is earlier.
Answer» D. Date of completion of provision of service or date of receipt of payment; whichever is earlier.
discuss
146.

. What is the time of supply of import of service?

A. Date of entry of services in the books of account of recipient of service
B. Date of payment
C. 61st day from the date of invoice
D. Earlier of (b) & (c)
Answer» D. Earlier of (b) & (c)
discuss
147.

. Which of the following shall not be included in value of supply?

A. GST
B. Interest
C. Late fee
D. Commission
Answer» A. GST
discuss
148.

. The value of supply should include:

A. Any non-GST taxes, duties, cesses, fees charged separately by supplier
B. Interest, late fee or penalty for delayed payment of any consideration for any supply
C. Subsidies directly linked to the price except subsidies provided by the Central and State Governments
D. All of the above
Answer» D. All of the above
discuss
149.

. Value of supply under section 15(1) is:

A. Wholesale price
B. Market value
C. Maximum retail price
D. Transaction value
Answer» D. Transaction value
discuss
150.

. Which of the following forms part of transaction value?
1) GST compensation cess
2) Payments made to third parties by the recipient on behalf of the supplier in relation to the supply
3) Entertainment tax levied by local authority
4) Commission paid to an agent and recovered from the recipient
5) Inspection charges at recipient’s site
6) Charges for delay in payment waived off by supplier
State the correct answer from the options given below

A. 1, 2, 3, 4 & 5
B. 2, 3, 4, 5 & 6
C. 2, 3, 4 & 5
D. All of the above
Answer» D. All of the above
discuss

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