Top 350+ Solved Indirect Taxes- GST MCQ Questions Answer
Q. Subsidy given by the Central Government or a State Government while determining value of taxable supply under Goods and Services Tax (GST) as per section 15 of the CGST Act, 2017
a. included in the transaction value i.e. (value of taxable supply)
b. just ignored no treatment
c. shall not be included in transaction value i.e. (value of taxable supply)
d. deducted from the transaction value i.e. (value of taxable supply)
Q. Patel of Surat, Gujarat supplied good to Patil of Mumbai, Maharashtra for ` 1,20,000 (excluding GST) but after adding 30% profit margin (on cost). Patil is also a taxable person. IGST rate is 18%. The amount of input tax credit that can be availed and the maximum time limit for availing such input tax credit by Patil of Mumbai, Maharashtra as per CGST Act, 2017 is
a. 28,080 and within 6 months from the date of issue of tax invoice
b. 7,020 and within next quarter from the date of issue of tax invoice
c. 21,600 and within 1 year from the date of issue of tax invoice
d. None of the above
Q. Find out the following, who are the persons not liable for registration under the CGST Act, 2017.
a. Non-resident making taxable supply
b. Person supplying exempted goods and services or goods or services which are not liable for tax under GST
c. An agriculturist, to the extent of supply of produce out of cultivation of land
d. Both (b) and (c)
Q. Who is authorised under Integrated Goods and Service Tax (IGST) Act, to levy tax ?
a. State
b. Centre
c. Union Territory
d. Both (a) and (b)
Q. The available balance of input tax credit in the electronic ledger of the registered person onaccount of Union territory tax shall be utilised as per section 9 of UTGST Act, 2017
a. first towards payment of central tax
b. first towards payment of integrated tax
c. first towards payment of union territory tax and the amount remaining, if any towards payment of integrated tax
d. none of the above
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