Deck 2: Goods and Services Tax GST and Indirect Taxes in India

Question 1

In case an operator fails to furnish the information required by the notice served to him U/s 52(2) within 15 days of date of service, he will be liable to pay penalty of maximum__________________

A)rs.5,000
B)rs.10,000
C)rs.25,000
D)rs.20,000

Answer 1

rs.25,000

Question 2

In a case where passenger transportation service is provided to an unregistered person, place of supply will be_________

A)location of recipient
B)location of transporter
C)location of the destination
D)location where journey starts

Answer 2

location of transporter

Question 3

TDS certificate is to be issued by deductor in form_________________

A)gstr1a
B)gstr2a
C)gstr7b
D)gstr7a

Answer 3

gstr7a

Question 4

Every registered person required to deduct tax at source shall furnish a return in Form_____________________

A)gstr-1
B)gstr-5
C)gstr-9
D)gstr-7

Question 5

An operator can rectify any omission or incorrect particulars in furnishing the statement U/s 52(4) subject to payment of________________

A)taxes
B)interest
C)penalty
D)late fee

Question 6

Every electronic commerce operator required to collect tax at source has to furnish a statement in form___________________________

A)gstr-1
B)gstr-5
C)gstr-7
D)gstr-8

Question 7

Central & excise duty shall be levied in addition to GST on _________

A)petroleum products
B)alcohol products
C)tobacco and tobacco products
D)alcohol for human consumption

Question 8

Where supply is received at place other than place of business, location of recipient of services is__________________

A)location of place of business
B)location of fixed establishment
C)location of establishm ent most directly concerned
D)location of usual place of residence of recipient.

Question 9

M/s. ABC of Gujarat supplies goods to M/s. XYZ of Delhi, this will classify as

A)intra state supply
B)export supply
C)inter state supply
D)deemed supply

Question 10

Indirect Tax is a___________________________

A)regressive
B)progressive tax
C)tax on tax
D)value added tax.

Question 11

GST is charged on_________________ of goods or services

A)manufacture or provision
B)consumption
C)supply
D)demand

Question 12

Supply of services Imported into the territory if India are treated as___________________________

A)inter state supply
B)intra state supply
C)exempt supplies
D)international supplies

Question 13

Ms. Pooja supplied services to Ms. Smita on 5-7-2018.She raised an invoice on 20-6-2018 and recived the amount on 10-7-2018. The tax rate for these services was changed from 15% to 28% on 1-7-2018. The time of supply will be___________________________ and tax rate levied will be__________________

A)20-6- 2018,28%
B)10-7-2018,28%
C)20-6- 2018,15%
D)10-7-2018,15%

Question 14

In example (8) above, if invoice is raised on 10-7-2018 and amount is received on 20-6-2018 everything else being same, time of supply will be ___________________________ and tax rate levied will be_________

A)20-6- 2018,28%
B)10-7-2018,15%
C)20-6- 2018,15%
D)10-7-2018,28%

Question 15

Where the location of the supplier and the place of supply are in two different States-

A)igst is applicable
B)cgst is applicable
C)sgst plus cgst is applicable
D)cgst plus igst is applicable

Question 16

Where location of the supplier and place of supply are in a State and a Union territory

A)cgst plus utgst is applicable
B)cgst plus igst is applicable
C)sgst plus utgst is applicable
D)igst is applicable

Question 17

Place of supply of goods exported from India shall be

A)the location outside india
B)the location of the exporter
C)state in which exported goods reaches first
D)place of supply not applicable.

Question 18

The place of supply of telecommunication services shall be

A)the location where connection is installed
B)place of office of the services provider
C)place of payment
D)place of supply not relevant

Question 19

Gifts not exceeding_________________in a year by an employer to employee shall not be treated as supply.

A)rs. 5,000
B)rs. 10,000
C)rs. 50,000
D)rs. 1,00,000

Question 20

Dealers whose annual turnover between Rs.1.5 crore and Rs. 5 crore need to use

A)two-digit hsn code
B)four digit hsn codes
C)four digit hsn codes.
D)eight digit hsn codes

Question 21

Composite tax is applicable for dealer with turnover upto

A)rs. 1 crore
B)rs. 20 lakh
C)rs. 1.5 crore
D)rs. 10 crore

Question 22

Supply of goods provided, or agreed to be provided, continuously or on recurrent basis, under a contract, is

A)mixed supply
B)composite supply
C)common supply
D)continuous supply

Question 23

The maximum limit of IGST rate fixed in the Act is

A)18%
B)28%
C)40%
D)100%

Question 24

Supply of two or more taxable supplies naturally bundled and supplied is called

A)mixed supply
B)composite supply
C)common supply
D)continuous supply