Test 909

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Subject: Indirect Tax Laws and Practice

Total Number of Question: 40

Time: 41 Minutes

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GST is levied on which of the following?

Sale of goods

Supply of goods and services

Manufacture of goods

Income of individuals

None

What is the maximum GST rate applicable in India?

18%

20%

28%

30%

None

Which of the following taxes has been subsumed under GST?

Income Tax

Customs Duty

Central Excise Duty

Professional Tax

None

Which article of the Indian Constitution empowers the levy of GST?

Article 265

Article 279A

Article 246A

Article 301

None

GST is a:

Destination-based tax

Origin-based tax

Both destination-based and origin-based

None of the above

None

What is the threshold limit for GST registration for service providers in India (FY 2023-24)?

₹10 lakh

₹20 lakh

₹40 lakh

₹50 lakh

None

Which form is used for applying for GST registration?

GSTR-1

GST REG-01

GST CMP-02

GST PMT-06

None

Composition scheme is available for taxpayers whose aggregate turnover does not exceed:

₹1 crore

₹1.5 crore

₹2 crore

₹5 crore

None

Under the Composition Scheme, a manufacturer has to pay GST at the rate of:

12%

None

10.

A composition taxpayer is allowed to:

Collect tax from customers

Avail Input Tax Credit (ITC)

Issue a tax invoice

File quarterly returns

None

11.

Which of the following is not eligible for Input Tax Credit (ITC)?

Purchase of raw materials

Purchase of motor vehicles (except specific cases)

Payment of output tax liability

Exported goods

None

12.

The time limit for availing Input Tax Credit for an invoice is:

3 months from the invoice date

End of the financial year

Earlier of September of next FY or filing of annual return

No time limit

None

13.

Which form is used to file monthly outward supply details?

GSTR-1

GSTR-2A

GSTR-3B

GSTR-9

None

14.

How frequently does a composition taxpayer need to file GST returns?

Monthly

Quarterly

Annually

Half-yearly

None

15.

Which of the following is mandatory on a tax invoice under GST?

PAN number

GSTIN of supplier

Export declaration

Buyer’s signature

None

16.

Customs duty in India is governed by which Act?

The GST Act, 2017

The Customs Act, 1962

The Income Tax Act, 1961

The Excise Act, 1944

None

17.

Basic Customs Duty (BCD) is levied on:

Import of goods

Export of goods

Both import and export

Domestic sales

None

18.

Which document is required for customs clearance of imported goods?

PAN card

Bill of Entry

Debit Note

Tax Invoice

None

19.

Which of the following duties is not refunded under duty drawback scheme?

Basic Customs Duty

IGST

Countervailing Duty

Special Additional Duty

None

20.

The customs valuation for levying duty is based on:

MRP

FOB value

CIF value

Transaction value

None

21.

Supplies to SEZ units are treated as:

Domestic sales

Exports

Deemed imports

Exempt supplies

None

22.

Who administers the SEZ policy in India?

RBI

Ministry of Finance

Ministry of Commerce

CBIC

None

23.

Which of the following is true regarding an SEZ unit?

It is treated as a foreign territory for taxation

It pays GST on outward supplies

It does not get customs duty exemptions

It cannot engage in exports

None

24.

Which tax is applicable on supplies made from SEZ to a domestic tariff area?

IGST

CGST

SGST

Exempt

None

25.

What is the due date for filing annual GST returns (GSTR-9)?

31st March

30th September

31st December

20th July

None

26.

Which body is responsible for GST administration in India?

RBI

CBIC

SEBI

NITI Aayog

None

27.

What is the penalty for late filing of GST returns?

₹50 per day

₹100 per day

₹500 per day

₹1,000 per day

None

28.

Service Tax is applicable on:

Sale of goods

Export of goods

Provision of services

Both sale of goods and provision of services

None

29.

Which is the primary legislation governing Service Tax in India before the implementation of GST?

Service Tax Act, 1994

Customs Act, 1962

Goods and Services Tax Act, 2017

Income Tax Act, 1961

None

30.

Which of the following was exempt from Service Tax under the pre-GST regime?

Services related to insurance

Services provided by a charitable trust

Taxable services provided by a company

Renting of immovable property

None

31.

The rate of Service Tax before the introduction of GST was:

10%

12%

15%

18%

None

32.

VAT was levied on:

Only imports

Only services

Only exports

Sale of goods

None

33.

Which of the following is not included in VAT?

Sales of goods

Services rendered

Purchase of raw materials

Export of goods

None

34.

Under VAT, the tax is paid on:

MRP of the goods

Value addition on each stage of production

Total turnover of the business

Sales price to consumers

None

35.

VAT is collected by the seller from the buyer at the time of:

Manufacturing

Sale

Import

Delivery

None

36.

Anti-dumping duty is imposed to protect the domestic industry from:

Inflation

Imports at a price lower than fair market value

Illegal trade practices

Counterfeit goods

None

37.

Countervailing Duty (CVD) is imposed on:

Imported goods to counteract subsidies

Exports to other countries

Services provided by foreign entities

Domestic industries selling outside India

None

38.

Which body is responsible for investigating and imposing anti-dumping and countervailing duties in India?

Reserve Bank of India (RBI)

Directorate General of Anti-Dumping and Allied Duties (DGAD)

Customs Department

Ministry of Finance

None

39.

Which of the following is an example of a non-taxable supply under GST?

Services provided by a registered person

Exports of goods and services

Sale of goods in India

Leasing of commercial property

None

40.

A non-resident taxable person is required to obtain GST registration if they make taxable supplies in India, and their aggregate turnover exceeds:

₹10 lakh

₹20 lakh

₹40 lakh

₹1 crore

None

1 out of 4

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