Top 150+ Solved Goods and Services Tax (GST) MCQ Questions Answer
Q. . 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
Q. . 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
Q. . Aggregate turnover includes:
a. Taxable supplies of goods or service or both
b. Exempt supplies of goods
c. Exports
d. All of the above
Q. . 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
Q. . 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.
Q. . 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
Q. . 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
Q. . 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
Q. . 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
Q. . 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
Q. . 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
Q. . 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
Q. . 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
Q. . 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