Top 350+ Solved Indirect Taxes- GST MCQ Questions Answer
Q. Which of the following is - the supply in which possession of the goods are transferred but the title on the same will be transferred at the future date?
a. Rent a car
b. Hire Purchase
c. Normal sale of goods
d. None of the above
Q. Which of the following is - the supply in which possession of the goods are transferred but the title of the goods is not transferred at all and thereby attains the character of the supply of service ?
a. Rent a car
b. Hire Purchase
c. Normal sale of goods
d. None of the above
Q. Suppose XYZ Ltd has a license to operate a particular business venture but he refrains from operating such business venture after an agreement with other business houses in the same line of business against receiving certain amount. Is this a supply of service?
a. Ye
b. No
c. Exempted
d. None of the above
Q. Which of the following is the supply even if made without consideration?
a. Stock transfer out to another state
b. Temporary application of business asset for a non-business needs
c. Free transfer of business asset
d. All of the above
Q. What are the factors differentiating composite supply & mixed supply?
a. Nature of bundling i.e. artificial or natural
b. Existence of principal supply
c. Both of the above
d. None of the above
Q. What would be the tax rate applicable in case of composite supply?
a. Tax rate as applicable on principal supply
b. Tax rate as applicable on ancillary supply
c. Tax rate as applicable on respective supply
d. None of the above
Q. What would be the tax rate applicable in case of mixed supply?
a. Tax rate as applicable on supply attracting the lowest rate of tax
b. Tax rate as applicable on supply attracting the highest rate of tax
c. Tax @ 28%
d. None of the above
Q. Which of the following supplies are naturally bundled?
a. Rent deed executed for renting of two different floors of a building-one for residential and another for commercial purpose to same person
b. Pack of watch, tie and belt
c. Package of canned food such as burger, chocolates, sweets, cake et
d. None of the above
Q. A supply comprising of two or more supplies shall be treated as the supply of thatparticular supply that attracts highest rate of tax.
a. Composite
b. Mixed
c. Both (a) and (b)
d. None of the above
Q. means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply.
a. Composite Supply
b. Principal Supply
c. Mixed Supply
d. Inward Supply
Q. means two or more individual supplies of goods or services, or any combination thereof, made in conjunction with each other by a taxable person for a single price where such supply does not constitute a composite supply.
a. Mixed Supply
b. Principal Supply
c. Inward Supply
d. Exempt Supply
Q. Who will notify the rate of tax to be levied under CGST Act?
a. Central Government suo moto
b. State Government suo moto
c. GST Council suo moto
d. Central Government as per the recommendations of the GST Council