McqMate
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) .
Chapters
| 151. |
. When can the transaction value be rejected for computation of value of supply |
| A. | When the buyer and seller are related and price is not the sole consideration |
| B. | When the buyer and seller are related or price is not the sole consideration |
| C. | It can never be rejected |
| D. | When the goods are sold at very low margins |
| Answer» B. When the buyer and seller are related or price is not the sole consideration | |
| 152. |
. What deductions are allowed from the transaction value |
| A. | Discounts offered to customers, subject to conditions |
| B. | Packing Charges, subject to conditions |
| C. | Amount paid by customer on behalf of the supplier, subject to conditions |
| D. | Freight charges incurred by the supplier for CIF terms of supply, subject to conditions |
| Answer» A. Discounts offered to customers, subject to conditions | |
| 153. |
. Rule 30 of the CGST Rules inter alia provides value of supply of goods or services or both based on cost shall be ……………% of cost of production or manufacture or the cost of acquisition of such goods or the cost of provision of such services |
| A. | 100 |
| B. | 10 |
| C. | 110 |
| D. | 120 |
| Answer» C. 110 | |
| 154. |
. Aggregate turnover includes: |
| A. | Taxable supplies of goods or service or both |
| B. | Exempt supplies of goods |
| C. | Exports |
| D. | All of the above |
| Answer» D. All of the above | |
| 155. |
. Which of the following persons are not liable for registration? |
| A. | Any person engaged exclusively in supplying services wholly exempt from tax |
| B. | Casual Taxable Person |
| C. | Both (a) and (b) |
| D. | None of the above |
| Answer» A. Any person engaged exclusively in supplying services wholly exempt from tax | |
| 156. |
. Within how many days a person should apply for registration? |
| A. | Within 60 days from the date he becomes liable for registration. |
| B. | Within 30 days from the date he becomes liable for registration. |
| C. | No Time Limit |
| D. | Within 90 days from the date he becomes liable for registration. |
| Answer» B. Within 30 days from the date he becomes liable for registration. | |
| 157. |
. A person having _______business verticals in a State ______ obtain a separate registration for each business vertical. |
| A. | Single, shall |
| B. | Multiple, shall |
| C. | Multiple, may |
| D. | Single, may |
| Answer» C. Multiple, may | |
| 158. |
. What is the validity of the registration certificate? |
| A. | One year |
| B. | No validity |
| C. | Valid till it is cancell |
| Answer» C. Valid till it is cancell | |
| 159. |
. The registration certificate granted to Non-resident taxable person is valid for days from the effective date of registration. |
| A. | 30 |
| B. | 60 |
| C. | 90 |
| D. | 120 |
| Answer» C. 90 | |
| 160. |
. If an entity has multiple branches within the same state, it requires |
| A. | Registration for each branch separately |
| B. | Single registration for all the branches |
| C. | Multiple registration or single registration at the option of the Assessee |
| D. | Registration for each branch separately if the turnover of each branch exceeds INR 20 Lakhs |
| Answer» B. Single registration for all the branches | |
| 161. |
. Which of the following persons are not liable for registration? |
| A. | Any person engaged exclusively in supplying goods or services wholly exempt from tax |
| B. | Causal taxable person |
| C. | Non-resident taxable person |
| D. | None of the above |
| Answer» A. Any person engaged exclusively in supplying goods or services wholly exempt from tax | |
| 162. |
. An agriculturist is not required to take registration if he supplies |
| A. | Any agricultural produce |
| B. | Any agricultural produce grown by him or other agriculturalist |
| C. | Agricultural produce out of cultivation of land |
| D. | All the above |
| Answer» C. Agricultural produce out of cultivation of land | |
| 163. |
. Which of the following forms are used for applicable for registration? |
| A. | Form GSTR-1 |
| B. | Form GSTR-2 |
| C. | Form GST REG-01 |
| D. | Form GST REG-02 |
| Answer» C. Form GST REG-01 | |
| 164. |
Which of the following statement are correct? |
| A. | Voluntary registration not possible under GST |
| B. | Voluntarily registered person is not liable to comply with all the provisions of the GST |
| C. | A person may get himself registered voluntarily and shall comply with all the provisions of GST |
| D. | None of the above |
| Answer» C. A person may get himself registered voluntarily and shall comply with all the provisions of GST | |
| 165. |
An E-commerce operator should get itself registered |
| A. | Irrespective of the threshold limit |
| B. | If his aggregate turnover exceeds the threshold limit of INR 20,00,000 |
| C. | If he is liable to collect tax at source and his aggregate turnover exceeds the threshold limit |
| D. | If he is liable to collect tax at source |
| Answer» A. Irrespective of the threshold limit | |
| 166. |
There will be deemed approval of registration if no action is taken on application |
| A. | Within a period of 3 working days from the date of submission of the application |
| B. | Within a period of 7 working days from the date of submission of the application |
| C. | Within a period of 10 working days from the date of submission of the application |
| D. | Within a period of 14 working days from the date of submission of the application |
| Answer» A. Within a period of 3 working days from the date of submission of the application | |
| 167. |
A certificate of registration shall be issued by the proper officer in form |
| A. | GST REG-02 |
| B. | GST REG-03 |
| C. | GST REG-04 |
| D. | GST REG-06 |
| Answer» D. GST REG-06 | |
| 168. |
Which of the following requires amendment in the registration certificate? |
| A. | Change of name of the registered person |
| B. | Change in constitution of the registered person |
| C. | Switching over from composition scheme to normal scheme or vice versa |
| D. | All of the above |
| Answer» D. All of the above | |
| 169. |
A voluntarily registered person’s registration can be cancelled if the person does not start business within |
| A. | 3 months from the date of registration |
| B. | 6 months from the date of registration |
| C. | 9 months from the date of registration |
| D. | 1 months from the date of registration |
| Answer» B. 6 months from the date of registration | |
| 170. |
Registration can be cancelled by the proper officer if the person registered under composition scheme has not furnished return for |
| A. | 3 consecutive tax periods |
| B. | 6 consecutive tax periods |
| C. | For a consecutive period of 6 months |
| D. | For a consecutive period of 1 year |
| Answer» A. 3 consecutive tax periods | |
| 171. |
Any registered person, whose registration is cancelled by the proper officer on his own motion may apply to such officer for revocation of cancellation of the registration in the prescribed manner within____ from the date of service of the cancellation order. |
| A. | 180 days |
| B. | 120 days |
| C. | 90 days |
| D. | 30 days |
| Answer» D. 30 days | |
| 172. |
. The proper officers may cancel suo motu the registered where a person paying tax has not furnished returns for ____ |
| A. | 3 consecutive tax periods |
| B. | 4 consecutive tax periods |
| C. | 2 consecutive tax periods |
| D. | 5 consecutive tax periods |
| Answer» A. 3 consecutive tax periods | |
| 173. |
. As per section 25 of CGST Act, 2017, a casual taxable person shall apply for registration at least _____ prior to the commencement of business. |
| A. | 5 days |
| B. | 10 days |
| C. | 7 days |
| D. | 30 days |
| Answer» A. 5 days | |
| 174. |
. In case of taxable supply of services, invoice shall be issued within a period of __________ from the date of supply of service. |
| A. | 30 days |
| B. | 45 days |
| C. | 60 days |
| D. | 90 days |
| Answer» A. 30 days | |
| 175. |
. In case of taxable supply of services by an insurer, invoice shall be issued within a period of __________from the date of supply of service. |
| A. | 30 days |
| B. | 45 days |
| C. | 60 days |
| D. | 90 days |
| Answer» B. 45 days | |
| 176. |
. Where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued: |
| A. | before/at the time of supply |
| B. | 6 months from the date of removal |
| C. | Earlier of (a) or (b) |
| D. | None of the above |
| Answer» C. Earlier of (a) or (b) | |
| 177. |
. Registered person may issue a consolidated tax invoice for such supplies at the close of each day in respect of all such supplies provided |
| A. | The recipient is not a registered person |
| B. | The recipient does not require such invoice |
| C. | The value of goods and services or both per invoice is less than INR 200 |
| D. | All the above conditions are satisfied |
| Answer» D. All the above conditions are satisfied | |
| 178. |
. In case of supply of exempted goods or services or both, the registered person shall issue |
| A. | A tax invoice |
| B. | A bill of supply |
| C. | Receipt voucher |
| D. | Any of the above |
| Answer» B. A bill of supply | |
| 179. |
. In case of supply of goods by a composition dealer the registered person shall issue |
| A. | A tax invoice |
| B. | A bill of supply |
| C. | Receipt voucher |
| D. | Any of the above |
| Answer» B. A bill of supply | |
| 180. |
. Where advance payment is received, the registered person shall issue |
| A. | A tax invoice |
| B. | A bill of supply |
| C. | Receipt voucher |
| D. | Any of the above |
| Answer» C. Receipt voucher | |
| 181. |
. The tax invoice in case of supplier of goods is issued in |
| A. | Triplicate |
| B. | Duplicate |
| C. | Either (a) or (b) at the option of Taxpayer |
| D. | Either (a) or (b) at the option of PO |
| Answer» A. Triplicate | |
| 182. |
. What is the nature of supply if the nature of Supply is not determinable? |
| A. | Intra-state |
| B. | Inter-state |
| C. | Either (a) or (b) at the option of Taxpayer |
| D. | Either (a) or (b) at the option of PO |
| Answer» B. Inter-state | |
| 183. |
. Which of these electronic ledgers are maintained online? |
| A. | Electronic liability register |
| B. | Electronic credit ledger |
| C. | Electronic cash ledger |
| D. | All of the above |
| Answer» D. All of the above | |
| 184. |
. Deposits towards tax, penalty, interest, fee or any other amount are credited into the _________________of a taxable person. |
| A. | Electronic liability register |
| B. | Electronic credit ledger |
| C. | Electronic cash ledger |
| D. | All of the above |
| Answer» C. Electronic cash ledger | |
| 185. |
. Input tax credit as self-assessed in the return of the registered person shall be credited to which of the following ledger? |
| A. | Electronic liability register |
| B. | Electronic credit ledger |
| C. | Electronic cash ledger |
| D. | All of the above |
| Answer» B. Electronic credit ledger | |
| 186. |
Which of the following items are debited to electronic credit ledger? |
| A. | Output tax |
| B. | Interest |
| C. | Penalty |
| D. | All of the above |
| Answer» A. Output tax | |
| 187. |
. Which input tax credit cannot be claimed against which output tax liability? |
| A. | IGST, SGST |
| B. | CGST, IGST |
| C. | SGST, IGST |
| D. | CGST, SGST |
| Answer» D. CGST, SGST | |
| 188. |
. Interest is payable on: |
| A. | Belated payment of tax |
| B. | Undue/excess claim of input tax credit |
| C. | Undue/ excess reduction in output tax liability |
| D. | All of the above |
| Answer» D. All of the above | |
| 189. |
. Which of the following liability cannot be adjusted against input tax credit of CGST? |
| A. | IGST |
| B. | SGST/UTGST |
| C. | All of the above |
| D. | None of the above |
| Answer» B. SGST/UTGST | |
| 190. |
. Which of the following shall be discharged first, while discharging liability of a taxable person? |
| A. | All dues related to previous tax period |
| B. | All dues related to current tax period |
| C. | Demand raised under section 73 and 74 |
| D. | No such condition is mandatory |
| Answer» A. All dues related to previous tax period | |
| 191. |
. Which date is considered as date of deposit of the tax dues |
| A. | Date of presentation of cheque or |
| B. | Date of payment or |
| C. | Date of credit of amount in the account of Government |
| D. | none |
| Answer» C. Date of credit of amount in the account of Government | |
| 192. |
. Who is required to furnish details of outward supplies in Form GSTR-1? |
| A. | Person paying tax under composition scheme |
| B. | Non-resident taxable person |
| C. | Both (a) & (b) |
| D. | None of the above |
| Answer» D. None of the above | |
| 193. |
. What does N stand for in HSN? |
| A. | Network |
| B. | Nationalization |
| C. | Nomenclature |
| D. | Nomination |
| Answer» C. Nomenclature | |
| 194. |
. Which form is furnished for submission of details of outward supplies u/s 37? |
| A. | GSTR-1 |
| B. | GSTR-2 |
| C. | GSTR-3 |
| D. | GSTR-5 |
| Answer» A. GSTR-1 | |
| 195. |
. What is the due date for submission of monthly GSTR-1? |
| A. | on or before 10th day of the immediately succeeding month |
| B. | on or before 15th day of the immediately succeeding month |
| C. | on or before 17th day of the immediately succeeding month |
| D. | on or before 20th day of the immediately succeeding month |
| Answer» A. on or before 10th day of the immediately succeeding month | |
| 196. |
. Composition tax payer is required to file return in Form no. ______. |
| A. | GSTR-2 |
| B. | GSTR-3 |
| C. | GSTR-4 |
| D. | GSTR-5 |
| Answer» C. GSTR-4 | |
| 197. |
. The due date for filing GSTR-3B is _______. |
| A. | on 10th day of the next month |
| B. | on 15th day of the next month |
| C. | on 17th day of the next month |
| D. | on or before 20th day of the next month |
| Answer» D. on or before 20th day of the next month | |
| 198. |
. Which of the following are not required to file the Annual Return? |
| A. | Input Service Distributor |
| B. | Casual Taxable Person |
| C. | Non-resident Taxpayer |
| D. | All of the above |
| Answer» D. All of the above | |
| 199. |
. As per GST Law only citizen of India can act at as GST practitioner |
| A. | False |
| B. | True |
| C. | Partly one |
| D. | None of the above |
| Answer» B. True | |
| 200. |
. Who is authorised to conduct audit under section 35(5) of the CGST Act, 2017?
|
| A. | 1, 3 and 4 |
| B. | 4, 2, 3 and 1 |
| C. | 1 only |
| D. | 1 or 3 only |
| Answer» D. 1 or 3 only | |
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