McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 1. |
How the aggregate turnover of ` 20 lakh is calculated ? |
| A. | Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person having same PAN computed on all India basis. |
| B. | Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person computed for each state separately. |
| C. | Aggregate value of all taxable intrastate supplies, export of goods/services and exempt supplies of a person having same PAN computed for each state separately. |
| D. | Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person having same PAN computed on all India basis and excluding taxes if any charged under CGST Act, SGST Act and IGST Act. |
| Answer» D. Aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable by a person on reverse charge basis), exempt supplies, export of goods/services and interstate supplies of a person having same PAN computed on all India basis and excluding taxes if any charged under CGST Act, SGST Act and IGST Act. | |
| 2. |
Whether all persons are mandatorily required to obtain registration? |
| A. | Yes |
| B. | Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services, if specified threshold limit does not exceed in a financial year. |
| C. | Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services. |
| D. | No, only if specified threshold exceeds in a financial year then only need to obtain. |
| Answer» C. Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services. | |
| 3. |
Which one of the following is true? |
| A. | A person can’t collect tax unless he is registered. |
| B. | Registered person not liable to collect tax till his aggregate turnover exceeds ` 20 lakhs /` 10 Lakhs as the case may be. |
| C. | A person can collect the tax during the period of his provisional registration. |
| D. | Both (a) and (b) are correct. |
| Answer» A. A person can’t collect tax unless he is registered. | |
| 4. |
Which of the following forms are used for registration? |
| A. | Form GSTR-1 |
| B. | Form GSTAPL-01 |
| C. | Form GST REG-01 |
| D. | Form GST RFD-01 |
| Answer» C. Form GST REG-01 | |
| 5. |
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. | |
| 6. |
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 | |
| 7. |
Which one of following statements is correct? |
| A. | Voluntary registration is not possible under GST. |
| B. | Voluntarily registered person 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. | |
| 8. |
PAN issued under the Income Tax Act is mandatory for grant of registration. |
| A. | It is one of the documents listed. |
| B. | Yes, but non-resident taxable person may be granted registration on the basis of any other document. |
| C. | No |
| D. | Yes, even for non-resident taxable persons |
| Answer» B. Yes, but non-resident taxable person may be granted registration on the basis of any other document. | |
| 9. |
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» D. He is required to register if he is liable to collect tax at source and /or his aggregate turnover | |
| 10. |
What is the validity of the registration certificate? |
| A. | One year |
| B. | No validity |
| C. | Valid till it is cancelled |
| D. | Five years |
| Answer» C. Valid till it is cancelled | |
| 11. |
What is the validity of the registration certificate issued to casual taxable person and non-resident taxable person? |
| A. | 90 days from the effective date of registration |
| B. | Period specified in the application for registration |
| C. | Earliest of (a) or (b) above |
| D. | 180 days from the effective date of registration |
| Answer» C. Earliest of (a) or (b) above | |
| 12. |
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» D. All of the above | |
| 13. |
What are the consequences of obtaining registration by misrepresentation? |
| A. | Liable to cancellation of registration by proper officer. |
| B. | Liable to a fine not exceeding ` 10,00,000/- |
| C. | Imprisonment for a period of 6 months to 3 years. |
| D. | Both (b) and (c) |
| Answer» A. Liable to cancellation of registration by proper officer. | |
| 14. |
Does cancellation of registration under CGST affect the liability under SGST/IGST for period prior to cancellation of registration? |
| A. | Cancellation of registration will immune his liability under CGST only. |
| B. | Cancellation of registration will immune his liability under IGST only. |
| C. | Cancellation of registration will immune his liability under SGST and CGST but not under IGST. |
| D. | Cancellation does not affect the liability of taxable person to pay tax and other dues under CGST/SGST/IGST Act. |
| Answer» D. Cancellation does not affect the liability of taxable person to pay tax and other dues under CGST/SGST/IGST Act. | |
| 15. |
Within how many days an application for revocation of cancellation of registration can be made? |
| A. | Within 7 days from the date of service of the cancellation order. |
| B. | Within 15 days from the date of issue of the cancellation order. |
| C. | Within 45 days from the date of issue of the cancellation order. |
| D. | Within 30 days from the date of service of the cancellation order. |
| Answer» D. Within 30 days from the date of service of the cancellation order. | |
| 16. |
Which of the following statements are correct?
|
| A. | (i) and (ii) |
| B. | (i) and (iv) |
| C. | (ii) and (iii) |
| D. | (iii) and (iv) |
| Answer» A. (i) and (ii) | |
| 17. |
Who can submit application for registration in Form GST REG-09? |
| A. | Non- Resident taxable person |
| B. | Input service distributor |
| C. | Person deducting tax at source |
| D. | Person collecting tax at source |
| Answer» A. Non- Resident taxable person | |
| 18. |
Where the application for grant of registration has been approved, a certificate of registration in shall be made available to the applicant on the |
| A. | FORM GST REG-06, Common Portal |
| B. | FORM GST CER-06, Common Portal |
| C. | FORM GST CER-06, Jurisdictional office |
| D. | FORM GST REG-10, Company portal |
| Answer» A. FORM GST REG-06, Common Portal | |
| 19. |
An Unique Identity Number will be allotted to the following persons upon submitting an application: |
| A. | All the taxable persons can apply. |
| B. | Only unregistered persons can apply. |
| C. | Specialized agency of the UNO or any multilateral financial institution or consulate or embassy of foreign countries. |
| D. | No such concept under CGST/SGST Act. |
| Answer» C. Specialized agency of the UNO or any multilateral financial institution or consulate or embassy of foreign countries. | |
| 20. |
Every registered taxable person shall display his certificate of registration in a prominent location at his principal and at every other place of business also GSTIN shall be displayed on the name board at the entry of such places. |
| A. | No, certificate of registration to be displayed only at a registered place of business and GSTIN need not be displayed on the name board. |
| B. | Yes, above statement is correct. |
| C. | No, GSTIN to be displayed only on the invoices. |
| D. | Above statement is correct subject to certificate of registration to be displayed only at registered place of business. |
| Answer» B. Yes, above statement is correct. | |
| 21. |
Under what circumstances physical verification of business premises is mandatory? |
| A. | Physical verification of business premises is a discretionary power of proper officer. |
| B. | If additional information for registration asked by the proper officer is not submitted within specified time. |
| C. | If certificate of registration is obtained on misrepresentation of facts. |
| D. | If photograph of the business premise is not uploaded in the common portal within specified time. |
| Answer» A. Physical verification of business premises is a discretionary power of proper officer. | |
| 22. |
Business which has centralized registration under erstwhile Act |
| A. | Shall obtain a centralized registration under GST Law |
| B. | Shall obtain separate registration in each state from where it is making taxable supplies |
| C. | Shall obtain registration on temporary basis |
| D. | No need to apply for registration under GST |
| Answer» B. Shall obtain separate registration in each state from where it is making taxable supplies | |
| 23. |
Every person registered under any of the existing laws, who is not liable to be registered under the Act may, on or before , at his option, submit an application in FORM GST REG-29 for the cancellation of registration granted to him |
| A. | September 30, 2018 |
| B. | October 31, 2018 |
| C. | November 30, 2018 |
| D. | March 31, 2019 |
| Answer» D. March 31, 2019 | |
| 24. |
Who will take registration on services in relation to transportation of goods (including used household for personal use) if, GTA avails ITC on supplies made by him |
| A. | GTA, forward charge |
| B. | GTA, RCM |
| C. | Service receiver, forward charge |
| D. | Service receiver, RCM |
| Answer» A. GTA, forward charge | |
| 25. |
Which one of the following is true? |
| A. | A person can’t collect tax unless he is registered. |
| B. | Registered person not liable to collect tax till his aggregate turnover exceeds ` 20 lakhs/ ` 10 lakhs as the case may be. |
| C. | A person can collect the tax during the period of his provisional registration. |
| D. | None of the above |
| Answer» A. A person can’t collect tax unless he is registered. | |
| 26. |
An E-commerce operator should get registered irrespective of his threshold limit? |
| A. | Yes |
| B. | No, required to register only if his aggregate turnover exceeds the threshold limit. |
| C. | He is required to register if he is liable to collect tax at source and his aggregate turnover exceeds the threshold limit. |
| D. | None of the above |
| Answer» A. Yes | |
| 27. |
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» D. All of the above | |
| 28. |
A person not required to obtain registration if he is required to pay tax under reverse charge and there are no taxable supplies made by him. |
| A. | Incorrect, if person who are required to pay tax under reverse charge, irrespective of threshold shall obtain registration. |
| B. | Incorrect, if person who are required to pay tax under reverse charge obtain registration only if such value of supplies under reverse charge exceeds the threshold limit. |
| C. | Above statement is correct |
| D. | A person is required to obtain registration if he is required to pay tax under reverse charge and also he is also making taxable supplies irrespective of the threshold limit. |
| Answer» A. Incorrect, if person who are required to pay tax under reverse charge, irrespective of threshold shall obtain registration. | |
| 29. |
Mr. A has started supply of goods and services in Delhi. He is required to obtain registration, if his aggregate turnover exceeds during a financial year. |
| A. | 10 lakh |
| B. | 20 lakh |
| C. | 30 lakh |
| D. | 50 lakh |
| Answer» B. 20 lakh | |
| 30. |
Aggregate turnover includes |
| A. | Taxable supplie |
| B. | Exempt supplies |
| C. | Exports |
| D. | All of the above |
| Answer» D. All of the above | |
| 31. |
Which of the following persons are compulsorily required to obtain registration? |
| A. | Persons making any inter-State taxable supply |
| B. | Non-resident taxable persons making taxable supply |
| C. | Casual taxable persons making taxable supply |
| D. | All of the above |
| Answer» D. All of the above | |
| 32. |
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 | |
| 33. |
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. Examine which 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» B. Rohan Toys has to obtain registration as a casual taxable person for attending the Business Fair. | |
| 34. |
Every supplier shall be liable to be registered under this Act in the State or Union Territory, other than Special Category States, from where he makes a taxable supply of goods or services or both, if his aggregate turnover in a financial year exceeds |
| A. | 10 lakh |
| B. | 25 lakhs |
| C. | 1.5 crores |
| D. | 20 lakhs |
| Answer» D. 20 lakhs | |
| 35. |
Where a person makes taxable supplies of goods or services or both from any of the Special Category States, he shall be liable to be registered if his aggregate turnover in a financial year exceeds |
| A. | 10 lakh |
| B. | 25 lakhs |
| C. | 1.5 crores |
| D. | 20 lakhs |
| Answer» A. 10 lakh | |
| 36. |
The calculation of aggregate turnover to decide the registration limit will be based on |
| A. | State wise Turnover |
| B. | State wise Turnover excluding Export |
| C. | All over India Turnover |
| D. | All over Turnover excluding Export |
| Answer» C. All over India Turnover | |
| 37. |
Taxable minimum turnover limit in GST that is applicable to the State of Maharashtra |
| A. | 10 lakh |
| B. | 25 lakhs |
| C. | 1.5 crores |
| D. | 20 lakhs |
| Answer» D. 20 lakhs | |
| 38. |
The dealers who are not eligible for any threshold limit for registration under GST law are? |
| A. | Input Service Distributors and Dealers making supply through Electronic Commerce Operator |
| B. | Casual Dealers and Non-resident Taxable Persons |
| C. | Dealers making inter-state supplies and those having Reverse Charge Liability |
| D. | All of the above |
| Answer» D. All of the above | |
| 39. |
Suppose a dealer who is a resident of Delhi has business places both at Delhi and Uttar Pradesh. From where does he have to take GST registration? |
| A. | From Delhi only |
| B. | From Uttar Pradesh only |
| C. | He has to take separate GST registration both at Delhi and Uttar Pradesh with the same PAN |
| D. | From either of the states |
| Answer» C. He has to take separate GST registration both at Delhi and Uttar Pradesh with the same PAN | |
| 40. |
Suppose one Multi National Company (MNC) has places of business all over India. Can such an MNC take a single centralised GST registration? |
| A. | Yes |
| B. | No (it has to take registration in all the states from where it makes supplies of goods or services) |
| C. | Registration only from the state in which its Head Office in India is situated |
| D. | Either (a) or (c) |
| Answer» B. No (it has to take registration in all the states from where it makes supplies of goods or services) | |
| 41. |
Are all suppliers mandatorily required to obtain registration? |
| A. | Yes |
| B. | Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services |
| C. | Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services and for others if the specified threshold exceeds in any financial year |
| D. | No only if the specified threshold exceeds in any financial year |
| Answer» C. Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services and for others if the specified threshold exceeds in any financial year | |
| 42. |
The supply of goods after the completion of the Job work from the registered place of business place of a Job worker |
| A. | The Principal who despatched the goods for Job work |
| B. | The Job worker |
| C. | Either of the party |
| D. | Deemed supply of the Job worker |
| Answer» A. The Principal who despatched the goods for Job work | |
| 43. |
Where a business carried on by a taxable person registered under this Act is transferred to another person as a going concern, |
| A. | Transferror’s registration shall be taken as transferee’s registration |
| B. | The transferee shall be liable to be registered w.e.f. the date of transfer |
| C. | Both transferor and transferee are required to obtain fresh registration |
| D. | None of the above |
| Answer» B. The transferee shall be liable to be registered w.e.f. the date of transfer | |
| 44. |
Shall a dealer making the exclusive supply of Liquor or Petrol, Diesel and Crude Oil have to take registration under the GST Act? |
| A. | Ye |
| B. | No |
| C. | Optional |
| D. | Either (a) or (c) |
| Answer» B. No | |
| 45. |
Who is called a Deemed supplier of Services? |
| A. | Input Service Distributor |
| B. | Job Worker |
| C. | Agent |
| D. | Subsidiary Company |
| Answer» A. Input Service Distributor | |
| 46. |
Threshold limit of registration is applicable to the following persons |
| A. | Input Service Distributor, whether or not separately registered under this Act |
| B. | Non-resident taxable persons making taxable supply |
| C. | Every Electronic Commerce Operator |
| D. | None of the above |
| Answer» D. None of the above | |
| 47. |
Which of the following statements are correct? |
| A. | Voluntary registration is not possible under GST |
| B. | Voluntary registered person not liable to comply with all the provisions of the GST |
| C. | A person may get himself registered voluntary and shall comply with all the provisions of the Act |
| D. | None of the above |
| Answer» C. A person may get himself registered voluntary and shall comply with all the provisions of the Act | |
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