Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Indirect Tax LawsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. Reverse charge mechanism under GST applies to: All supplies Specified supplies only Supplies exceeding ₹50,000 None of the above None 2. GST is levied on the supply of: Goods only Services only Both goods and services Goods and services only for export None 3. Which of the following taxes is subsumed under GST? Income Tax Stamp Duty VAT Corporate Tax None 4. The threshold limit for GST registration for services is: ₹10 lakhs ₹20 lakhs ₹40 lakhs ₹75 lakhs None 5. Which form is used to claim Input Tax Credit? GSTR-1 GSTR-3B GSTR-9 GSTR-2A None 6. Composition scheme is available to taxpayers having a turnover of up to: ₹1 crore ₹1.5 crore ₹5 crore ₹2 crore None 7. Input Tax Credit cannot be availed on: Capital goods Motor vehicles Goods used for further production None of the above None 8. TDS under GST is applicable at what rate? 1% 2% 5% 10% None 9. Time limit to issue credit notes is: 3 months from the date of supply Before September of next financial year or filing of annual return, whichever is earlier 6 months from the date of supply None of the above None 10. GST on exports is: Exempt Zero-rated Standard-rated None of the above None 11. Anti-profiteering provisions are contained in: Section 171 of CGST Act Section 122 of CGST Act Section 61 of CGST Act None of the above None 12. Place of supply of services in case of training provided to a registered person is: Location of supplier Location of recipient Location of event None of the above None 13. Maximum rate of GST prescribed in law is: 18% 28% 40% None of the above None 14. The validity of e-way bill is determined based on: Value of goods Distance traveled Quantity of goods None of the above None 15. The due date for filing GSTR-3B is: 10th of the next month 15th of the next month 20th of the next month 25th of the next month None 16. Under Customs, the point of levy of duty is: When goods enter territorial waters When goods cross customs barriers When goods are unloaded None of the above None 17. The rate of duty applicable under Customs is determined based on: Date of invoice Date of bill of entry Date of payment None of the above None 18. Exempt supply includes: Supplies attracting 0% GST Non-taxable supplies Both (a) and (b) None of the above None 19. Reverse charge mechanism for import of services is governed by: Section 5(3) of IGST Act Section 5(4) of IGST Act Section 9(3) of CGST Act Section 9(4) of CGST Act None 20. Services by an employee to the employer in the course of employment are: Taxable supply Exempt supply Neither supply of goods nor services None of the above None 21. The time limit for claiming Input Tax Credit is: Before September of the next financial year Before the filing of the annual return Earlier of (a) or (b) None of the above None 22. Which of the following forms is used for claiming a refund under GST? GSTR-3B GSTR-7 RFD-01 GSTR-1 None 23. The GST Council is chaired by: Prime Minister Union Finance Minister Governor of RBI Revenue Secretary None 24. Input Tax Credit on goods sent on job work must be reversed if not returned within: 180 days 1 days 12 days 3 days None 25. Under Customs law, valuation of imported goods is done based on: CIF value FOB value Transaction value Market value None 26. Export duty is levied on: All goods exported out of India Specified goods as notified Goods valued above ₹50,000 None of the above None 27. Composition scheme taxpayers are required to file their GST return: Monthly Quarterly Annually Bi-annually None 28. Penalty for late filing of GST return is: ₹50 per day ₹100 per day ₹150 per day ₹250 per day None 29. What is the maximum period for which goods can remain in a customs warehouse? 1 year 3 year 5 year No limit None 30. GST on inward supplies under reverse charge is paid through: Input Tax Credit Cash ledger Either a or b None of the above None 31. Supply without consideration is considered as: Taxable supply in all cases Taxable supply only if specified in Schedule I Exempt supply None of the above None 32. Under GST, interest for delayed payment of tax is payable at: 12% per annum 15% per annum 18% per annum 24% per annum None 33. The threshold turnover limit for obtaining GST registration in Special Category States is: ₹10 lakhs ₹20 lakhs ₹30 lakhs ₹40 lakhs None 34. The authority to levy IGST lies with: State Government Central Government Both (a) and (b) GST Council None 35. GST compensation cess is levied on: Luxury and demerit goods All goods Services only None of the above None 36. SEZ supplies are treated as: Taxable supplies Zero-rated supplies Exempt supplies None of the above None 37. Under Customs law, duty drawback is available on: Export of notified goods Import of notified goods Both (a) and (b) None of the above None 38. Under GST, the value of supply includes: Discounts shown on the invoice Subsidies directly linked to the price (except those by the government) Post-supply discounts None of the above None 39. Tax on intra-state supply of goods and services is: CGST + SGST CGST + IGST IGST SGST only None 40. As per SA 530, an auditor uses sampling to reduce the risk of: Material misstatement Audit risk Detection risk Non-sampling risk None 1 out of 4 Great job on taking the INCOC Test! 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