Test 903

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Subject: Indirect Tax Laws and Practice

Total Number of Question: 40

Time: 41 Minutes

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Name

Phone No

State

Under GST, which of the following is treated as "supply of goods"?

Renting of immovable property

Transfer of title in goods

Transfer of right to use goods

Temporary transfer of intellectual property rights

Which of the following services is exempt from GST?

Services by an educational institution up to higher secondary

Legal services provided by senior advocates

Supply of motor vehicles for personal use

Renting of residential property for commercial use

The threshold turnover limit for GST registration in services is:

₹10 lakhs

₹20 lakhs

₹40 lakhs

₹75 lakhs

Under customs law, which duty is levied to protect domestic industries from imports at subsidized prices?

Basic Customs Duty

Countervailing Duty

Safeguard Duty

Anti-Dumping Duty

What is the maximum penalty for fraudulently availing input tax credit under GST?

50% of tax due

100% of tax due

10% of tax due

25% of tax due

Which of the following goods is subject to the highest GST rate of 28%?

Gold jewelry

Aerated drinks

Packaged food items

Footwear

In the case of reverse charge mechanism under GST, who is liable to pay the tax?

Supplier of goods

Recipient of goods or services

GST department

Freight forwarder

Under which schedule of the GST Act are the activities deemed as neither supply of goods nor supply of services?

Schedule I

Schedule II

Schedule III

Schedule IV

The validity of an e-way bill is determined by the:

Type of goods transported

Mode of transportation used

Distance covered

Value of goods transported

10.

What is the time limit for claiming input tax credit under GST?

One year from the date of invoice

Before the filing of the annual return or September of the next financial year, whichever is earlier

Six months from the date of supply

Two years from the date of invoice

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