Top 350+ Solved Indirect Taxes- GST MCQ Questions Answer
Q. The amounts can be credited in E-Cash ledger by
a. Internet Banking
b. Using Credit cards or Debit Cards
c. NEFT or RTGS
d. Any of the above
Q. Suppose Mr. X has a SGST credit of ` 10 lakhs in his ITC ledger and at the same time, he has a CGST output liability of ` 7 lakhs. What an amount should be deposited by Mr. X to his E-Cash ledger maintained at the GSTN portal
a. No deposit is required
b. 2 Lakhs
c. 5 Lakhs
d. 7 Lakhs
Q. Suppose Mr. Y has a IGST credit of ` 14 lakhs in his ITC ledger and at the same time, he has a IGST liability of ` 7 lakhs, CGST liability of ` 8 lakhs and SGST liability of ` 5 lakhs. What an amount should be deposited by Mr.Y to his E-Cash ledger maintained at the GSTN portal?
a. 6 lakhs (` 1 lakhs to SGST + ` 5 lakhs to CGST)
b. 6 lakhs (` 1 lakhs to CGST + ` 5 lakhs to SGST)
c. 6 lakhs (` 1 lakhs to IGST + ` 5 lakhs to SGST)
d. 6 lakhs (` 2 lakhs to IGST + ` 4 lakhs to SGST)
Q. A taxable person failed to pay tax and / or file returns on time. He should pay interest on ?
a. Gross tax payable
b. Gross tax payable and input credit claimed
c. Net tax payable i.e. amount to be paid after ITC set off
d. No interest payable, if reasonable cause is shown
Q. What is the rate of interest in case of undue or excess claim of ITC ?
a. 18%
b. 24%
c. 30%
d. 40%
Q. What is the date for applicability of TDS provisions ?
a. 1-7-2017
b. 1-1-2018
c. 1-9-2018
d. 1-10-2018
Q. GST TDS provisions can apply where total value of such supply, under a contract, exceedsrupees .
a. 1 lakh
b. 1.5 lakhs
c. 5 lakhs
d. 2.5 lakhs
Q. On what value TDS needs to be deducted ?
a. Contract value
b. Contract value excluding tax
c. Invoice value including tax
d. Invoice value excluding tax
Q. The amount deducted as tax (TDS) shall be paid to the credit of the Government by the deductorwithin .
a. Last day of the month to which payment relates
b. 10 days from the relevant period
c. 15 days from the relevant period
d. 20 days from the relevant period
Q. What is the rate of tax for tax collected at source ?
a. 0.5% each CGST and SGST
b. 2% of IGST
c. Both (a) and (b)
d. None of the above
Q. What is the threshold limit for applying the provisions of Section 52 for collecting tax at source ?
a. If net value of taxable supplies exceeds ` 2,50,000
b. If net value of taxable supplies exceeds ` 5,00,000
c. If net value of taxable supplies exceeds ` 10,00,000
d. No such limit prescribed