Top 150+ Solved Indirect Tax MCQ Questions Answer
Q. When turnover during a financial year exceeds---- the accounts and other records must be audited by a chartered accountant or a cost accountant
a. 1 crore
b. 2 crore
c. 5 crore
d. 10 crore
Q. The tax applicable to interstate supplies will be:
a. sgst only
b. cgst only
c. igst only
d. cgst-igst
Q. A person is liable to registered under GST law where aggregate sale of good exceeds----- after 1.4.2019. in general category
a. rs.40,00,000
b. rs.20,00,000
c. rs.15,00,00 0
d. rs.1,50,000
Q. GST is applicable on------- of goods or services.
a. supply
b. manufacture
c. consumpti on
d. production
Q. The first 2 digit of GSTIN represent------
a. entity code
b. country code
c. state code
d. checksum character
Q. The definition of goods under the GST Act does not include-----
a. grass
b. growings crops
c. actionable claims
d. money & securities
Q. If the payment to the supplier of goods or services is not made within----- from the date of issue of invoice, the input tax credit on such goods or services cannot be availed.
a. 6 months
b. 180 days
c. 45 days
d. 30 days
Q. Electronic Way Bill is compulsory to move goods of worth
a. rs. 10,000 ormore
b. 20,000 or more
c. 50,000 ormore
d. 1,00,000 or more
Q. An e-commerce operator neither having physical presence in the taxable territory not a representative in the said territory, shall-----
a. not supply goods and/or services in that taxable territory.
b. not be liable for collecting and paying taxes on supply in such taxable territory.
c. ask the recipient to pay taxes on his behalf.
d. appoint a person in the taxable territory for the purpose of paying taxes.
Q. Every operator who collects the amount of tax has to furnish the details of the same within----after the end of the month.
a. 15 days
b. 1 month
c. 20 days
d. 10 days
Q. In case an operator fails to furnish the information required by the notice served to him U/s 52(2) within 15 days of date of service, he will be liable to pay penalty of maximum-----
a. rs.5,000
b. rs.10,000
c. rs.25,000
d. rs.20,000
Q. In a case where passenger transportation service is provided to an unregistered person, place of supply will be------
a. location of recipient
b. location of transporter
c. location of the destination
d. location where journey starts
Q. Every registered person required to deduct tax at source shall furnish a return in Form-------
a. gstr-1
b. gstr-5
c. gstr-9
d. gstr-7
Q. An operator can rectify any omission or incorrect particulars in furnishing the statement U/s 52(4) subject to payment of-----
a. taxes
b. interest
c. penalty
d. late fee