Top 150+ Solved Computation of Liability MCQ Questions Answer
Q. Exempt supply means supply of any goods or services or both which may be wholly exempt from tax under section 11 or under section 6 of the IGST Act and includes (i) non-taxable supply (ii) zero rated supply (iii) supply having nil rate of tax (iv) composite supply
a. (i), (ii) and (iii)
b. (i) and (iv)
c. (i) and (iii)
d. All the four above
Q. The exception to the general rule that "normally, the supplier of goods and services is liable to pay tax on supply, even if he does not collect from his customer i.e. recipient of supply of goods and services" shall be applicable where there are
a. supply from an unregistered dealer to registered dealer
b. specified services through an e-commerce operator
c. both (a) and (b)
d. none of the above
Q. Power to declare certain activities / transactions as neither supply of goods nor of services isgiven in
a. Schedule IV
b. Schedule III
c. Schedule II
d. Schedule I
Q. ABC Ltd. of Mumbai supplied goods to XYZ Ltd. of Delhi under a contract for the goods to be delivered at the factory of the buyers. Goods removed from the factory of ABC Ltd. on 9-8-2019 and were delivered in the factory of XYZ Ltd. of Delhi on 16-8-2019. Invoice for the suppliers was raised by ABC Ltd. on 18-8-2019. Payment of the bill was received on 20-9-2019. The time of supply in this case under GST be taken as
a. 9-8-2019
b. 16-8-2019
c. 18-8-2019
d. 20-9-2019
Q. Section 24 of the CGST Act, 2017 lists categories of persons who are required to take registration even if they are not covered under section 22 of the Act. Find out from the following categories of persons who are being required to take registration as per section 24 of the CGST Act, 2017:(i) Casual taxable person (ii) Non-resident taxable person (iii) Recipient of service under Reverse Charge (iv)Inter-state supplier (v) Input service distributor
a. (i), (iii) and (v)
b. (i), (ii), (iv) and (v)
c. (i), (ii) and (v)
d. All the 5 in (i) to (v)
Q. Section 2(6) of the CGST / SGST Act, 2017 defines aggregate turnover which is being computed on all India basis excluding the taxes charged under CGST Act, SGST Act, UTGST Act and IGST Act. Aggregate turnover shall include all supplies made by a taxable person comprising of(i) Taxable supply (ii) Exempt supply (iii) Export of goods and services (iv)All inter-state supply of person having same PAN (v) Supply on which tax is levied on reverse charge basis (vi)Value of all inward supply
a. (i), (iii), (iv) and (v)
b. (i), (iii), (iv) and (vi)
c. All the above in (i) to (vi)
d. (i), (ii), (iii) and (iv)
Q. Decision of the GST Council will be adopted when it has the support of
a. one-third majority
b. two-third majority
c. three-fourth majority
d. simple majority
Q. When agriculturist supplies tobacco leaves to a factory, registered under GST, the liability to payGST is on
a. tobacco leaves seller
b. the buyer under reverse charge
c. the agriculturist
d. consumer of tobacco leaves
Q. When an unregistered dealer supplied goods to a registered dealer, the time of supply under reverse charge shall be earliest of the
a. date of receipt of good
b. date of supply of goods
c. date of loading of goods in transport
d. date of intimation of supply of goods
Q. Composition scheme is not applicable to service providers except the following.
a. Consultancy Service
b. Restaurant Service
c. Beauty Parlours
d. Cleaning Work
Q. To avail input tax credit, which of the following factors is not relevant ?
a. Tax invoice
b. Furnishing of return by supplier
c. Receipt of goods and services
d. Payment by buyer for supply received
Q. Input tax credit cannot be availed after the expiry of from the date of issue of tax invoice of supply.
a. 6 month
b. 3 months
c. 1 year
d. 2 years
Q. When goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance as per provisions of CGST Act, 2017, is called as
a. Mixed Supply
b. Uniform Supply
c. Complex Supply
d. Composite Supply