Top 50+ Solved Payment of Tax MCQ Questions Answer
Q. Deposits towards tax, penalty, interest, fee or any other amount are credited into the ofa taxable person.
a. Electronic Credit Ledger
b. Electronic Tax Liability Ledger
c. Electronic Cash Ledger
d. All of the above
Q. The Input Tax Credit as self-assessed by a taxable person is credited into the
a. Electronic Credit Ledger
b. Electronic Tax Liability Ledger
c. Electronic Cash Ledger
d. All of the above
Q. Cross-Utilization of credit of available IGST after utilization towards payment of IGST is done inthe following chronological order :
a. CGST then SGST/UTGST
b. SGST/UTGST then CGST
c. CGST, UTGST and SGST simultaneously
d. Only IGST
Q. Which of the following Statements is true?
a. ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of SGST/UTGST
b. ITC of SGST is first utilized for payment of SGST and the balance is utilized for payment of CGST
c. ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of IGST
d. All of the Above
Q. Over the Counter Payment can be made in branches of Banks Authorized for deposits up to` per challan per tax period?
a. 5,000
b. 10,000
c. 20,000
d. 40,000
Q. Which of the following shall be discharged first, while discharging liability of a taxable person?
a. All dues related to previous tax period
b. All dues related to current tax period
c. Additional demand raised
d. No such condition is mandatory
Q. Cross utilization of ITC is not allowed between :
a. CGST and SGST
b. SGST and IGST
c. IGST and CGST
d. None of the above
Q. Tax paid on goods and services under Act is allowable both under SGST Act and CGSTAct?
a. IGST
b. CGST
c. SGST
d. VAT
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