Top 50+ Solved Time of Supply MCQ Questions Answer
Q. GST a dealer has sent some goods to CST, another dealer, for Sales on Approval Basis. Inabsence of any confirmation even after 6 months, it will be treated as
a. Sales Return
b. Deemed Supply of Goods
c. Purchase return
d. None of the Above
Q. What is time of supply of goods liable to tax under reverse charge mechanism?
a. Date of receipt of goods
b. Date on which the payment is made
c. Date immediately following 30 days from the date of issue of invoice by the supplier
d. Earlier of (a) or (b) or (c)
Q. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case recipient of goods is liable to pay tax under reverse charge mechanism. Date of Invoice : 01-10-2019 Date of receipt of goods : 15-10-2019 Date of payment in books : 10-10-2019 Date of debit of payment in Bank A/c : 12-10-2019
a. Date of Invoice : 01-10-2019
b. Date of receipt of goods : 15-10-2019
c. Date of payment in books : 10-10-2019
d. Date of debit of payment in Bank A/c : 12-10-2019
Q. What is the time of supply of vouchers when the supply with respect to the voucher is identifiable?
a. Date of issue of voucher
b. Date of redemption of voucher
c. Earlier of (a) and (b)
d. (a) and (b) whichever is later
Q. What is the time of supply of vouchers when the supply with respect to the voucher is notidentifiable?
a. Date of issue of voucher
b. Date of redemption of voucher
c. Earlier of (a) and (b)
d. (a) and (b) whichever is later
Q. What is date of receipt of payment?
a. Date of entry in the books
b. Date of payment credited into bank account
c. Date of deposit of cheque into bank account
d. Earlier of (a) and (b)
Q. XYZ Ltd. has purchased for its employees 100 vouchers dated 24-02-2019 worth 1,000 each from ABC Ltd. a footwear manufacturing company. The vouchers were issued by ABC Ltd. on 25-02-2019. The vouchers can be encashed at retail outlets of ABC Ltd. The same were given to employees on 26-02-2019. The employees of XYZ Ltd. encashed the same on 01-03-2019. Determine time of supply of vouchers.
a. 24-02-2019
b. 25-02-2019
c. 26-02-2019
d. 01-03-2019
Q. What is the time of supply of service if the invoice is issued within 30 days from the date ofprovision of service?
a. Date of issue of invoice
b. Date on which the supplier receives payment
c. Date of provision of service
d. Earlier of (a) and (b)
Q. What is the time of supply of service if the invoice is issued within 30 days from the date ofsupply of service?
a. Date of issue of invoice by the supplier
b. Date of receipt of payment or date of issue of invoice whichever is later
c. Date of receipt of payment by the supplier
d. Date of receipt of payment or date of issue of invoice whichever is earlier
Q. What is the time of supply of service if the invoice is not issued within 30 days from the date ofsupply of service and no advance payments are received?
a. Date of issue of invoice by the supplier
b. Date of completion of supply of service
c. Date of receipt of payment by the supplier
d. Date of receipt of payment or date of issue of invoice whichever is earlier
Q. What is the time of supply of service for the supply of taxable services up to ` 1000 in excess ofthe amount indicated in the taxable invoice?
a. At the option of the supplier – Invoice date or Date of receipt of consideration
b. Date of issue of invoice
c. Date of receipt of consideration
d. Date of entry in books of account
Q. How is the date of receipt of consideration by the supplier determined?
a. Date on which the receipt of payment is entered in the books of account
b. Date on which the receipt of payment is credited in the bank account
c. Earlier of (a) and (b)
d. (a) and (b) whichever is later
Q. Value of services rendered is ` 1,18,000. Date of issue of invoice is 5th Sept. 2019. Advance received is ` 20,000 on 20th August 2018. Balance amount received on 7th Sept. 2019. What is the TOS of service?
a. 5th Sept. 2019 - ` 1,18,000
b. 20th August 2019 - ` 1,18,000
c. 20th August 2019 - ` 20,000 and 5th Sept. 2019 - ` 98,000
d. 20th August 2019 - ` 20,000 and 7th Sept. 2019 - ` 98,000
Q. Determine the TOS in accordance with provisions of CGST Act, 2017.Date of actual supply of service - 10th Nov. 2019 Date of Invoice - 30th Nov. 2019 Date on which payment received - 15th Dec. 2019
a. 10th Nov. 2019
b. 30th Nov. 2019
c. 15th Nov. 2019
d. 10th Dec. 2019
Q. Determine the TOS in accordance with provisions of CGST Act, 2017Date of actual supply of service - 10th Nov. 2019 Date of Invoice - 30th Nov. 2019 Date on which payment received - 15th Nov. 2019
a. 10th Nov. 2019
b. 30th Nov. 2019
c. 15th Nov. 2019
d. 10th Dec. 2019