Top 50+ Solved Time of Supply MCQ Questions Answer
Q. What is time of supply of goods, in case of forward charge?
a. Date of issue of invoice
b. Due date of issue of invoice
c. Date of receipt of consideration by the supplier
d. Earlier of (a) & (b)
Q. The date on which the supplier receives the payment shall be
a. the date on which the payment is entered in his books of account
b. the date on which the payment is credited to his bank account
c. the date on which the payment is entered in his books of account or the date on which the payment is credited to his bank account whichever is earlier
d. the date on which the payment is entered in his books of account or the date on which the payment is credited to his bank account whichever is later
Q. Mr. A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.Date of removal - 1st Oct. 2019 Date of Invoice - 2nd Oct. 2019 Date when goods made available to the recipient - 3rd Oct. 2019 Date of receipt of payment - 15th Nov. 2019
a. 1st Oct. 2019
b. 2nd Oct. 2019
c. 3rd Oct. 2019
d. 15th Nov. 2019
Q. Mr.A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods. Date of removal - 3rd Oct. 2019 Date of Invoice - 1st Oct. 2019Date when goods made available to the recipient - 4th Oct. 2019 Date of receipt of payment - 25th Nov. 2019
a. 3rd Oct. 2019
b. 1st Oct. 2019
c. 4th Oct. 2019
d. 25th Nov. 2019
Q. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.Date of Invoice : 02-10-2019 Date goods made available to recipient : 03-10-2019 Date of receipt of payment : 15-11-2019
a. Date of Invoice : 02-10-2019
b. Date goods made available to recipient : 03-10-2019
c. Date of receipt of payment : 15-11-2019
d. None of the above
Q. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case supply involves movement of goods. Date of Removal of goods : 03-10-2019 Date of Invoice : 01-10-2019 Date goods made available to recipient : 04-10-2019 Date of receipt of payment : 25-11-2019
a. Date of Removal of goods : 03-10-2019
b. Date of Invoice : 01-10-2019
c. Date goods made available to recipient : 04-10-2019
d. Date of receipt of payment : 25-11-2019
Q. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case supply involves movement of goods. Date of Removal of goods : 05-11-2019 Date of Invoice : 04-11-2019 Date goods made available to recipient : 06-11-2019 Date of receipt of payment : 01-10-2019
a. Date of Removal of goods : 05-11-2019
b. Date of Invoice : 04-11-2019
c. Date goods made available to recipient : 06-11-2019
d. Date of receipt of payment : 01-10-2019
Q. Mr. A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 ofthe CGST Act, 2017 in case supply does not involve movement of goods. Date of delivery - 2nd Oct. 2019 (Date when the goods made available to the recipient) Date of Invoice - 3rd Oct. 2019 Date of receipt of payment - 15th Nov. 2019
a. 2nd Oct. 2019
b. 3rd Oct. 2019
c. 15th Nov. 2019
d. 1st Nov. 2019
Q. Determine the Time of supply in case goods are supplied on approval basis Removal of goods : 01-12-2019 Issue of Invoice : 15-12-2019 Accepted by recipient : 05-12-2019 Receipt of payment : 25-12-2019
a. Removal of goods : 01-12-2019
b. Issue of Invoice : 15-12-2019
c. Accepted by recipient : 05-12-2019
d. Receipt of payment : 25-12-2019
Q. Where the supplier of taxable goods receives an amount upto in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice in respect of such excess amount.
a. 1,000
b. 5,000
c. 10,000
d. 50,000
Q. The time of supply to the extent it relates to an addition in the value of supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on which
a. The supplier receives such addition in value
b. The original invoice was issued
c. The supplier issues revised invoice
d. The original payment was received
Q. Tax invoice must be issued by on supplies made by him.
a. Every supplier
b. Every taxable person
c. Every Registered person not paying tax under composition scheme
d. All the above
Q. An invoice must be issued
a. At the time of removal of goods
b. On transfer of risks and rewards of the goods to the recipient
c. On receipt of payment for the supply
d. None of the above
Q. In case of goods sent on sale on approval basis, invoice has to be issued
a. While sending the goods; another Invoice has to be issued by the recipient while rejecting the goods
b. When the recipient accepts the goods or ten months from the date of supply whichever is earlier
c. When the recipient accepts the goods or six months from the date of supply whichever is earlier
d. When the recipient accepts the goods or three months from the date of supply whichever is earlier
Q. Where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued
a. before/at the time of supply
b. 6 months from the date of removal
c. earlier of (a) or (b)
d. none of the above