GST Model Test(1st)

Balance in electronic credit ledger under IGST can be used against which liability?

1 Mark(s)

None of them
IGST Liability only
IGST, CGST and SGST liability
IGST and CGST liability

Every registered taxable person shall be entitled to take credit of input tax in his return and such input tax credit shall be credited to

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Electronic Credit Ledger
Electronic Cash Ledger
Refund account
Personal Ledger Account

The value of supply of goods and services shall be the

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MRP
None of above
Market Value
Transaction value

Is there any ceiling limit prescribed on the rate under IGST?

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18%
28%
40%
12%

Can Mr. A avail credit on Input services or capital goods held in stock, in case of new registration/voluntary Registration

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Yes
Yes on capital goods only
Yes on Input services only
No

What is the threshold limit of turnover in the preceding financial year for opting to pay tax under composition scheme?

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Rs.50 lacs
None of the above
Rs.20 lacs
Rs.75 lacs

Which of the following taxes will be levied on Imports of goods and services?

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Exempt
IGST
SGST
CGST

Who is considered as an e-commerce operator, who _____________digital or electronic facility or platform for electronic commerce

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Manages
Any of the above
Owns
Operates

Can a registered person opt for composition scheme only for one out of his 5 business different units having same Permanent Account Number?

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No
Yes, with prior approval of the Central Government
Yes, subject to prior approval of the GST Council
Yes

Balance in electronic credit ledger can be utilized against which liability?

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Interest payable
Penalty
All of above
Output tax payable

The time limit beyond which if goods are not returned, the capital goods sent for job work shall be treated as supply

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Five years
Three Years
One year
Six months

For capital goods, proportionate credit is allowed

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for business or non- business purpose
none of the above
both of the above
for business and non-business purpose

A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger on

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Provisional basis
Partly Provisional and partly final basis
Final basis
None of the above

What deductions are allowed from the transaction value

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Discounts mention on invoice
Any amount paid by customer on behalf of the supplier
Packing Charges mention on invoice
Freight charges mention on invoice

Under which Act GST was introduced?

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100
104
102
103
101

Which of the following is an intrastate supply?

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Supplier of goods located in Goa and place of supply of goods in Goa
Supplier of goods located in Nagpur and place of supply of goods SEZ located in Mumbai
Supplier of goods located in Kolkata and place of supply of goods in Bangalore
All the above

In case supplier has deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?

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No, as one of the conditions of section 16(2) is not fulfilled.
None of the above
Yes if the receiver can prove later that goods are received subsequently
Yes, it will be automatically show in recipient monthly returns.

Is definition of Inputs includes capital goods

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Yes
No

Any registered taxable person who fails to furnish the details and file the return within the due date prescribed shall be liable to

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Interest at the rate of 1% per month
Both (a) and (b)
Late fee of Rs. 100 for every day up to Rs. 5000
None of the above

The maximum rate prescribed under IGST now is _______.

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12%
28%
5%
No such limit
18%

Refunds will not be allowed in cases of:-

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All of the above
Where tax on inputs are higher than tax on outputs
Exports made on payment of tax
Exports made without payment of tax

Business which has centralized registration under existing Acts

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Shall obtain separate registration in each state from where it is making taxable supplies.
No need to apply for registration under GST.
Shall obtain a centralized registration under GST Law.
Shall obtain registration on temporary basis.

GST is a _______ based tax on consumption of goods and services.

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Development
Dividend
Destiny
Destination
Duration

Which form is to be used for registration?

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Form GST REG
Form GSTR -1A
Form GSTR – 2
Form GST REG-01

Indian GST model has _________rate structure.

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6
5
4
3

Provisional Input tax credit can be utilized against

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Interest and Penalty
Self Assessed output Tax liability
Any Tax liability
Fine

GST council formation based on Article number _______.

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286A
289A
255A
266A
279A

In case of goods sent on sale on approval basis, invoice has to be issued:

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while sending the goods but the recipient can take credit only when the goods are accepted by him;
when the recipient accepts the goods or six months from the date of supply whichever isearlier.
while sending the goods; another Invoice has to be issued by the recipient while rejecting the goods;
when the recipient accepts the goods or three months from the date of supply whichever is earlier.

In India GST became effective from

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1st July, 2017
1st January, 2017
1st March, 2017
1st April, 2017

What is the rate of TDS?

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5%
1%
18%
4%

The registered recipient must issue an invoice in the following cases:

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The supplier fails to issue an invoice;
All of the above.
The supplier is unregistered.
The goods or services received notified for tax on reverse charge basis;

Input Tax credit as credited in Electronic Credit ledger can be utilized for

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Payment of Taxes
Payment of Interest
Payment of Fine
Payment of penalty

Under what circumstances physical verification of business premises is mandatory?

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Physical verification of business premises is a discretionary power of proper officer.
If additional information for registration asked by the proper officer is not submitted within specified time.
If photograph of the business premise is not uploaded in the common portal within specified time.
If certificate of registration is obtained on misrepresentation of facts.

Accounts are required to be maintained in

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Manual form
Manual and electronic form
Manual or electronic form
Electronic form

When does liability to pay GST arise in case of supply of goods?

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At the time of supply of goods
On raising of invoice
Earliest of any of above
On receipt of payment

Can all the records be maintained in an electronic form?

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Few records
No
Yes
Only if authenticated by digital signature

A continuous supply of goods requires one of the following as a must:

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The supply is made by means of a wire, cable, pipeline or other conduit;
The goods must be notified by the Commissioner in this behalf;
Supplier invoices the recipient on a regular or periodic basis.
The contract for supply lasts for a minimum period of 3 months;

Whether credit on capital goods can be taken immediately on receipt of the goods?

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None of the above
Yes
After capitalizing in books of Accounts
After usage of such capital goods

Whether depreciation on tax component of capital goods and Plant and Machinery and whether input tax credit (ITC) is Permissible?

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None of the above
Yes
No
Input tax credit is eligible if depreciation on tax component is not availed

The books and other records U/S 35 are to be maintained at

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Place where the books and accounts are maintained
Place of address of the Proprietor/ Partner/Director/Principal Officer
Any of the above
Principal place of business mentioned in the Certificate of Registration

How a person can apply for registration?

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Filing FORM GST REG-01 electronically in the common portal and uploading the required documents along with the application.
None of the above
Filing FORM GST REG-01 along with necessary documents with the jurisdictional proper officer.
Uploading necessary documents electronically in the common portal and also submitting manually to the jurisdictional proper officer.

Input tax credit on capital goods and Inputs can be availed in

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In six installments
In twelve installments
In one installment
In thirty six installments

Any input tax paid on purchase of goods or services by an assessee for employees is eligible for ITC?

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Yes
Yes, on the services notified which are obligatory for an employer to provide to its employees under any law for the time being in force
Not applicable
No

First announcement to introduce GST by 2010, is made in Year

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2000
2008
2010
2004
2006

Banking company or Financial Institution have an option of claiming ITC:

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Only cctual credit
Actual credit and 50% credit
Actual Credit or 50% credit
Only 50% Credit

Which of the following country has the second highest tax slab?

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Ireland
Argentina
Netherland
South Korea
Australia

When can a registered person avail credit on inputs?

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None of the above
on receipt of documents
Both
on receipt of goods

What does “I” stands for in IGST?

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Intra
International
Integrated
Internal

Which of the following country has the maximum GST tax slab?

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India
Australia
China
USA
Greece

Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor

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Yes vendor should be located in same place
Yes
No
None of the above

Payment made through challan will be credited to which registers/ledgers?

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Electronic Credit ledger
All of them
Electronic Tax liability register
Electronic Cash ledger

HSN Code Stands for

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Home Shopping Network
Home State Number
Harmonised System Number
Harmonised System of Nomenclature

GST comes under which amendment bill?

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118
122
120
115
129

For an E-commerce operator registration threshold limit is?

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None of above
Rs.50 lacs
Rs.20 lacs
Rs.75 lacs

GST Stands for

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General Sales Tax
Goods and Supply Tax
Government Sales Tax
Goods and Services Tax

What is the maximum rate prescribed under CGST?

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20%
28%
12%
18%

How will the goods and services be classified under GST regime?

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HSN Code
SAC Code
GST Code
SAC/HSN Code
None of above

What are the taxes levied on an Intra-State Supply?

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IGST
CGST
SGST
CGST and SGST

The time limit to pay the value of supply with taxes

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180 days
365 dyas
90 days
6 months

What is location of supply in case of importation of goods?

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Place where the goods are delivered after clearance from customs port
Location of the importer
Customs port where the goods are cleared
Owner of the goods

In India GST came effective from July 1st, 2017 India has chosen _______ model of dual – GST.

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Japan
UK
Canadian
China
USA

Which of the following requires amendment in the registration certificate?

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Switching over form composition scheme to normal scheme or vice versa.
All of the above
Change in constitution of the registered person
Change of name of the registered person

Place of supply in case of installation of elevator is

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Where address of the recipient is mentioned in the invoice.
Where the movement of elevator commences from the supplier’s place.
Where the delivery of elevator is taken.
Where the installation of elevator is made.

An invoice must be issued:

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On transfer of risks and rewards of the goods to the recipient;
Earliest of the above dates.
On receipt of payment for the supply;
At the time of removal of goods.

Whether credit can be availed without actual receipt of goods where goods are transferred through transfer of document of title before or during the movement of goods?

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Yes, in specific instances
Yes
No
Can be availed only after transfer of document of title after movement of goods

What is the rate applicable under CGST to a registered person being a hotelier opting to pay taxes under composition scheme?

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2.5%
0.5%
None of the above
1%

PAN issued under the Income Tax Act is mandatory for grant of registration.

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No, for persons who are required to deduct tax at source u/s 51 shall have TAN in lieu of PAN.
It is one of the document listed.
Both (b) and (c)
Yes, but non-resident taxable person may be granted registration on the basis of any other document.

The details of outward supplies of goods or services shall be submitted by

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18th of the succeeding month
20th of the succeeding month
10th of the succeeding month
15th of the succeeding month

How many countries have dual – GST model?

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14
10
None of these
8
5

Which of the following country is the first one to implement GST?

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France
USA
Germany
China
Switzerland

The headquarters of GST council is _______.

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New Delhi
Hyderabad
Mumbai
Lucknow
Ahmadabad

The time limit beyond which if goods are not returned, the input sent for job work shall be treated as supply

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One year
Five years
Three years
Six months

When an e-commerce operator is required to register under GST?

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It is mandatory to register irrespective of the threshold limit.
When he is required to collect tax at source u/s 52
When his aggregate turnover exceeds the threshold limit
When he is required to discharge tax on the taxable supply or services made by the supplier through him u/s 9(5)

The tax IGST charged by _________Government.

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Concerned department
All a, b and c
Both a and b
Central
State

Tax invoice must be issued by________

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Every supplier
Registered persons not paying tax under composition scheme
Every taxable person
All the above

Matching of Input Tax credit on inward supply by recipient is undertaken with

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None of the above
Invoices maintained by the supplier
Outward supply filed by the supplier
Monthly return filed by the supplier

Can a person apply for registration without PAN

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Yes
No

First Return filed under GST is

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GSTR-2
GSTR-3A
GSTR-1
GSTR-4
GSTR-3B

Can Banking Company or Financial Institution withdraw the option of availing actual credit or 50% credit anytime in the financial year?

1 Mark(s)

Yes
No

What is the due date for payment of tax?

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Last day of the month to which payment relates
Within 10 days of the subsequent month
Within 20 days of the subsequent month
Within 15 days of the subsequent month

A bill of supply can be issued in case of inter-State and intra-State:

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Supplies to unregistered persons;
None of the above.
Supplies by composition suppliers;
Exempted supplies

Which of the following tax is not subsumed in GST

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Entertainment Tax
Entry Tax
Stamp Duty
VAT

Maximum rate prescribed under UTGST/SGST?

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14%
20%
30%
28%

Balance in electronic credit ledger under CGST can be used against which liability?

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None of them
CGST and IGST liability
CGST, IGST and SGST liability
CGST Liability only

How many types of taxes will be in Indian GST?

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2
5
6
4
3

Is Input tax to be reversed in case of supply of capital goods

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Yes to the extent of transaction value of such goods
Yes fully
Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher
No

What is date of receipt of payment?

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Earlier of (a) and (b)
Date of payment credited into bank account
Date of entry in the books
Date of filing of return

Which of these registers/ledgers are maintained online?

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All of them
Credit ledger
Cash ledger
Tax liability register

Which one of the following is true?

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Registered person not liable to collect tax till his aggregate turnover exceeds threshold limit
A person can collect tax only he is registered
None of the above
A person can collect the tax during the period of his provisional registration

Balance in electronic credit ledger under SGST can be used against which liability?

1 Mark(s)

SGST, IGST and CGST liability
None of them
SGST and IGST liability
SGST Liability only

In India GST was first proposed in _______.

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1996
2000
1999
2002
1993

The Tourist can claim Refund of following taxes paid

1 Mark(s)

Tax paid on the supply of scotch to be taken out of India
IGST on supply of goods consumed in Jammu & Kashmir
None of the above
CGST and SGST/UTGST on supply of Goods and services

An acknowledgement must be given on receipt of advance payment in respect of supply of goods or services:

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Yes, as a receipt voucher.
Yes, in the form of a proforma invoice;
Yes, the invoice must be raised to that extent;
None of the above

SAC Code Stands for

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Services Accounting Code
Software Accounting Code
System Accounting Code
Service Application Code

What is the validity of the registration certificate?

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No validity
Valid till it is cancelled
Five years
Ten years

When can the transaction value be rejected for computation of value of supply

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When the buyer and seller are not related and price is not the sole consideration
When the buyer and seller are related or price is not the sole consideration
When the goods are sold at very low margins
It can never be rejected

Mr. A obtains new registration, voluntary registration, change of scheme from composition to regular scheme and from exempted goods/services to taxable goods/services. He can avail credit on inputs lying in stock. What is the time limit for taking said credit

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5 year from the date of invoice
3 year from the date of invoice
None of the above
1 year from the date of invoice

If there is Mis-match of supplier’s outward supply and recipient’s claim for Input Tax credit on the same transaction

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It shall be deceased as input tax credit in the hands of supplier.
It shall be added as output tax liability in the hands of receiver.
It shall be reduced as output tax liability in the hands of receiver.
It shall be increased as input tax credit in the hands of receiver.

Can a registered person under Composition Scheme claim input tax credit?

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Yes
Input tax credit on inward supply of goods only can be claimed
No
Input tax credit on inward supply of services only can be claimed

Who are mandatorily required to obtain registration?

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Every Person
For an agriculturist or exclusively engaged in supplying exempt goods or services is not required and for others if specified threshold limit exceeds in a financial year
No, only if specified threshold exceeds in a financial year then only need to obtain
Not required for an agriculturist or person exclusively engaged in supplying exempt goods or services

GST Model Test(1st) : Question 1 of 100