McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 51. |
Transfer of right in goods or of undivided share in goods without the transfer of title thereof shall be considered as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 52. |
Transfer of title in goods under an agreement which stipulates that property in goods shall pass at a future date upon payment of full consideration as agreed shall be considered as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» A. Supply of goods | |
| 53. |
Lease, tenancy, easement, licence to occupy land shall be considered as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 54. |
Lease or letting out of the building including a commercial, industrial or residential complex for business or commerce, either wholly or partly shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 55. |
Any treatment or process which is applied to another person’s goods shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 56. |
Where goods forming part of the assets of a business are transferred or disposed of by or under the directions of the person carrying on the business so as no longer to form part of those assets, whether or not for a consideration, such transfer or disposal is a by the person. |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» A. Supply of goods | |
| 57. |
Where, by or under the direction of a person carrying on a business, goods held or used for the purposes of the business are put to any private use or are used, or made available to any person for use, for any purpose other than a purpose of the business, whether or not for a consideration, the usage or making available of such goods is a . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 58. |
Renting of immovable property is . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 59. |
Construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier, shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 60. |
Temporary transfer or permitting the use or enjoyment of any intellectual property right shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 61. |
Development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 62. |
Agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act is . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 63. |
Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 64. |
Works contract as defined in section 2 (119) shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 65. |
Supply, by way of or as part of any service or in any other manner whatsoever, of goods, being food or any other article for human consumption or any drink (other than alcoholic liquor for human consumption), where such supply or service is for cash, deferred payment or other valuable consideration is . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» B. Supply of services | |
| 66. |
Supply of goods by any unincorporated association or body of persons to a member thereof for cash, deferred payment or other valuable consideration shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» A. Supply of goods | |
| 67. |
Services by an employee to the employer in the course of or in relation to his employment is. |
| A. | Supply of good |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 68. |
Services by any court or Tribunal established under any law for the time being in force is . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 69. |
The functions performed by the Members of Parliament, Members of State Legislature, Members of Panchayats, Members of Municipalities and Members of other local authorities shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 70. |
The duties performed by any person who holds any post in pursuance of the provisions of the Constitution in that capacity shall be considered as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 71. |
The duties performed by any person as a Chairperson or a Member or a Director in a body established by the Central Government or a State Government or local authority and who is not deemed as an employee before the commencement of this clause shall be considered as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 72. |
Services of funeral, burial, crematorium or mortuary including transportation of the deceased shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 73. |
Actionable claims, other than lottery, betting and gambling shall be treated as . |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Neither as a supply of goods nor a supply of services |
| D. | Either as a supply of goods or a supply of services |
| Answer» C. Neither as a supply of goods nor a supply of services | |
| 74. |
Gifts not exceeding in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both. |
| A. | 50,000 |
| B. | 1,00,000 |
| C. | 2,00,000 |
| D. | 2,50,000 |
| Answer» A. 50,000 | |
| 75. |
The shall be treated as supply even if made without consideration |
| A. | Permanent transfer or disposal of business assets where input tax credit has been availed on such assets. |
| B. | Permanent transfer or disposal of business assets where input tax credit has NOT been availed on such assets. |
| C. | Both of the above |
| D. | None of the above |
| Answer» A. Permanent transfer or disposal of business assets where input tax credit has been availed on such assets. | |
| 76. |
The shall be treated as supply even if made without consideration |
| A. | Supply of goods by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; |
| B. | Supply of goods by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal. |
| C. | Both of the above |
| D. | None of the above |
| Answer» C. Both of the above | |
| 77. |
The shall be treated as supply even if made without consideration. |
| A. | Supply of goods by a principal to his agent where the agent undertakes to supply such goods on behalf of the principal; |
| B. | Supply of goods by an agent to his principal where the agent undertakes to receive such goods on behalf of the principal. |
| C. | Permanent transfer or disposal of business assets where input tax credit has been availed on such assets |
| D. | All of the above |
| Answer» D. All of the above | |
| 78. |
Import of services by a taxable person from a related person or from any of his other establishments outside India, in the course or furtherance of business shall . |
| A. | Supply of services |
| B. | Not to be treated as supply of service |
| C. | Be treated as supply even when made without consideration |
| D. | None of the above |
| Answer» C. Be treated as supply even when made without consideration | |
| 79. |
Which of the following is - the supply in which possession of the goods are transferred but the title on the same will be transferred at the future date? |
| A. | Rent a car |
| B. | Hire Purchase |
| C. | Normal sale of goods |
| D. | None of the above |
| Answer» B. Hire Purchase | |
| 80. |
Which of the following is - the supply in which possession of the goods are transferred but the title of the goods is not transferred at all and thereby attains the character of the supply of service ? |
| A. | Rent a car |
| B. | Hire Purchase |
| C. | Normal sale of goods |
| D. | None of the above |
| Answer» A. Rent a car | |
| 81. |
Suppose XYZ Ltd has a license to operate a particular business venture but he refrains from operating such business venture after an agreement with other business houses in the same line of business against receiving certain amount. Is this a supply of service? |
| A. | Ye |
| B. | No |
| C. | Exempted |
| D. | None of the above |
| Answer» A. Ye | |
| 82. |
Which of the following is the supply even if made without consideration? |
| A. | Stock transfer out to another state |
| B. | Temporary application of business asset for a non-business needs |
| C. | Free transfer of business asset |
| D. | All of the above |
| Answer» D. All of the above | |
| 83. |
What are the factors differentiating composite supply & mixed supply? |
| A. | Nature of bundling i.e. artificial or natural |
| B. | Existence of principal supply |
| C. | Both of the above |
| D. | None of the above |
| Answer» C. Both of the above | |
| 84. |
What would be the tax rate applicable in case of composite supply? |
| A. | Tax rate as applicable on principal supply |
| B. | Tax rate as applicable on ancillary supply |
| C. | Tax rate as applicable on respective supply |
| D. | None of the above |
| Answer» A. Tax rate as applicable on principal supply | |
| 85. |
What would be the tax rate applicable in case of mixed supply? |
| A. | Tax rate as applicable on supply attracting the lowest rate of tax |
| B. | Tax rate as applicable on supply attracting the highest rate of tax |
| C. | Tax @ 28% |
| D. | None of the above |
| Answer» B. Tax rate as applicable on supply attracting the highest rate of tax | |
| 86. |
Which of the following supplies are naturally bundled? |
| A. | Rent deed executed for renting of two different floors of a building-one for residential and another for commercial purpose to same person |
| B. | Pack of watch, tie and belt |
| C. | Package of canned food such as burger, chocolates, sweets, cake etc. |
| D. | None of the above |
| Answer» D. None of the above | |
| 87. |
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 | |
| 88. |
means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply. |
| A. | Composite Supply |
| B. | Principal Supply |
| C. | Mixed Supply |
| D. | Inward Supply |
| Answer» A. Composite Supply | |
| 89. |
means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply. |
| A. | Mixed Supply |
| B. | Principal Supply |
| C. | Inward Supply |
| D. | Exempt Supply |
| Answer» A. Mixed Supply | |
| 90. |
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 | |
| 91. |
What is the maximum rate prescribed under CGST Act? |
| A. | 12% |
| B. | 28% |
| C. | 20% |
| D. | 18% |
| Answer» C. 20% | |
| 92. |
Who will notify the rate of tax to be levied under CGST Act? |
| A. | Central Government suo moto |
| B. | State Government suo moto |
| C. | GST Council suo moto |
| D. | Central Government as per the recommendations of the GST Council |
| Answer» D. Central Government as per the recommendations of the GST Council | |
| 93. |
Which of the following taxes will be levied on imports? |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | CGST and SGST |
| Answer» C. IGST | |
| 94. |
What is the maximum rate prescribed under UTGST Act? |
| A. | 14% |
| B. | 28% |
| C. | 20% |
| D. | 30% |
| Answer» C. 20% | |
| 95. |
Supply shall attract IGST? |
| A. | Intra-State |
| B. | Inter-State |
| C. | Both |
| D. | none |
| Answer» B. Inter-State | |
| 96. |
Is there any ceiling limit prescribed on the rate under IGST? |
| A. | 14% |
| B. | 40% |
| C. | 26% |
| D. | 30% |
| Answer» B. 40% | |
| 97. |
What if an e-commerce operator having no physical presence in the taxable territory, does not have a representative in the taxable territory? |
| A. | His will have to discharge his tax liability in foreign currency |
| B. | He will not be liable to tax |
| C. | He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf |
| D. | None of the above |
| Answer» C. He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf | |
| 98. |
Unless and until notified, IGST shall not be levied on the inter-State supply of which of the following: |
| A. | Industrial alcohol |
| B. | Works contract |
| C. | Petroleum |
| D. | None of the above |
| Answer» C. Petroleum | |
| 99. |
What are the supplies on which reverse charge mechanism would apply at present? |
| A. | Notified categories of goods or services or both under section 9(3) |
| B. | Inward supply of goods or services or both from an unregistered dealer under section 9(4) |
| C. | Both the above |
| D. | None of the above |
| Answer» A. Notified categories of goods or services or both under section 9(3) | |
| 100. |
Which of the following services are covered under Reverse Charge Mechanism of CGST Act, 2017?
|
| A. | i & iii |
| B. | i & iv |
| C. | i & ii |
| D. | All the above |
| Answer» C. i & ii | |
Done Studing? Take A Test.
Great job completing your study session! Now it's time to put your knowledge to the test. Challenge yourself, see how much you've learned, and identify areas for improvement. Don’t worry, this is all part of the journey to mastery. Ready for the next step? Take a quiz to solidify what you've just studied.