Top 150+ Solved Computation of Liability MCQ Questions Answer
Q. GST in India is levied on the basis of
a. Consumption principle
b. Set-off against that payable principle
c. Destination base principle
d. Both consumption and destination base principle
Q. The tax under GST legislation in India is being levied:
a. Exclusively by Union and State Law
b. Simultaneously by Union and State Laws
c. Only by Union Laws
d. Only by State Laws
Q. The Chairperson of GST Council is
a. Prime Minister of India
b. Finance Minister of India
c. Minister of State for Finance
d. None of the above
Q. Under GST law the phrase 'Goods' does not include
a. Actionable claim
b. Growing crops on the land agreed to be severed before supply
c. Money and Securities
d. None of the above
Q. The scope of supply of goods or services or both includes
a. Sale
b. Exchange
c. Lease
d. All of the above
Q. Sasta Bazar offers a free bucket with detergent purchased. It is a
a. Composite supply
b. Mixed supply
c. Principal supply
d. None of the above
Q. Which of the following is not a feature of indirect taxes ?
a. Regressive nature
b. Supply based taxes
c. Rate of taxes are different from person to person
d. No previous year and assessment year concept
Q. Goods and Services Tax (GST) has been implemented in India w.e.f.
a. 1st July, 2017
b. 1st June, 2017
c. 1st September, 2017
d. 1st April, 2017
Q. Mr. T, a thief has stolen motorbike and sells the motorbike to Mr. Q. It is illegal to steal a motorbike.Sale of motorbike will be considered as
a. supply and liable to be taxed
b. supply but not liable to be taxed
c. not at all supply
d. none of the above
Q. Mr. A booked a Rajdhani train ticket, which includes meal. It is
a. Composite supply
b. Mixed supply
c. Not at all supply
d. None of the above
Q. Which of the following agricultural activity is exempted from GST ?
a. Cultivation
b. Supply of farm labour
c. Renting of agro machinery
d. All of the above
Q. GT Jewellers Ltd. paid ` 50 lakhs for sponsorship of Miss India beauty pageant in Mumbai toStylist & Co. a partnership firm. GST is liable to be paid by
a. GT Jewellers Ltd.
b. Miss India beauty pageant
c. Stylish & Co.
d. Exempted Supply