Test 908

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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

Area Pin Code

Who can apply for an advance ruling under GST?

Any registered person

Any unregistered person

Only a supplier of goods

Only a recipient of services

None

What is the primary purpose of an advance ruling?

To evade GST

To clarify tax liability before undertaking a transaction

To reduce tax rates

To avoid tax audits

None

Which authority issues advance rulings under GST?

GST Council

Advance Ruling Authority (AAR)

CBIC

GST Tribunal

None

What is the time limit for filing an appeal against an advance ruling?

15 days

30 days

45 days

60 days

None

GST on the sale of under-construction properties is charged at what rate?

5% without ITC

12% with ITC

18% with ITC

Both a) and b), depending on conditions

None

What is the GST rate on affordable housing projects?

1% without ITC

5% with ITC

12% without ITC

18% with ITC

None

GST does NOT apply to which real estate transaction?

Sale of an under-construction property

Sale of a completed property

Sale of a commercial property

Renting of a commercial property

None

Is Input Tax Credit (ITC) available for residential construction projects under GST?

Yes, fully available

No, it is not allowed

Only for government projects

Only for commercial properties

None

Which tax was subsumed by GST in the real estate sector?

Property Tax

Stamp Duty

Service Tax

Capital Gains Tax

None

10.

What is the GST rate on banking services?

12%

18%

28%

None

11.

GST is applicable on which of the following financial services?

Loan repayment

Bank charges for processing loans

Interest on savings account

Mutual fund investment

None

12.

Is GST applicable on life insurance premiums?

No, it is exempt

Yes, at 5%

Yes, at 12% for term insurance and 18% for other policies

Yes, at 28%

None

13.

Which of the following is NOT taxable under GST?

ATM withdrawal charges

Bank account maintenance charges

Interest on fixed deposits

Processing fees on home loans

None

14.

GST on credit card annual fees is charged at?

12%

18%

28%

None

15.

Which of the following is eligible for a GST refund?

Inverted duty structure cases

Input tax credit on exempted supplies

ITC on personal expenses

ITC on GST-paid fuel

None

16.

What is the maximum time limit for claiming a GST refund?

3 months

6 months

1 year

2 years

None

17.

Which of the following is a zero-rated supply under GST?

Domestic sales

Exports

Inter-state sales

Sale of electricity

None

18.

A refund application under GST is filed using which form?

GSTR-2

GSTR-3B

RFD-01

GSTR-7

None

19.

Which of the following cases does NOT qualify for a GST refund?

Excess tax payment

ITC on blocked credits

Exports without payment of tax

Inverted duty structure cases

None

20.

What is the purpose of GST e-invoicing?

To increase GST rates

To automate tax calculation and reporting

To eliminate the need for GST registration

To replace GSTR-3B

None

21.

Which businesses must generate e-invoices?

Businesses with turnover above ₹10 crore

Only government agencies

Exporters only

All businesses, regardless of turnover

None

22.

The penalty for failing to generate an e-invoice is?

₹500 per invoice

₹1,000 per invoice

₹5,000 per invoice

₹10,000 per invoice

None

23.

Which of the following is NOT required for GST compliance?

Maintaining purchase and sales records

Filing returns on time

Keeping physical cash registers

Paying GST liabilities promptly

None

24.

GST notices and legal communications are sent through?

Email and GST portal

Only through postal mail

Only through phone calls

Newspaper advertisements

None

25.

What is the penalty for failing to issue an invoice under GST?

₹1,000 per invoice

₹5,000 per invoice

₹10,000 or the amount of tax evaded, whichever is higher

₹25,000 per invoice

None

26.

Which of the following is considered a GST offense?

Late payment of GST

Incorrect filing of GST returns

Supplying goods without issuing an invoice

All of the above

None

27.

What is the maximum penalty for deliberate GST fraud involving ₹5 crore or more?

3 years imprisonment

5 years imprisonment with fine

7 years imprisonment with fine

10 years imprisonment

None

28.

What is the penalty for failing to register under GST when required?

₹5,000

₹10,000

10% of tax due (minimum ₹10,000)

No penalty, only registration is required

None

29.

Which authority has the power to arrest a person for GST evasion?

GST Council

CBIC Officers

Income Tax Department

RBI

None

30.

Supplies made to SEZ units are treated as?

Normal taxable supplies

Exempt supplies

Zero-rated supplies

Reverse charge supplies

None

31.

Which of the following is true for exports under GST?

Exports are charged at 18% GST

Exports are considered zero-rated supplies

Exports are taxable at a concessional rate

Exports are subject to GST refund restrictions

None

32.

GST refund for exports without payment of tax is claimed through?

GSTR-1

GSTR-3B

RFD-01

GSTR-9

None

33.

What is the time limit for claiming a refund for GST paid on exports?

3 months

6 months

1 year

2 years

None

34.

Which document is required for claiming a GST refund on exports?

GST invoice

Bill of Entry

Shipping bill

All of the above

None

35.

GST on online advertisements and digital services provided by foreign companies is charged at?

12%

18%

28%

None

36.

Who is liable to pay GST on imported online services by individuals?

The foreign service provider

The Indian recipient under reverse charge

The government

The RBI

None

37.

GST registration is mandatory for foreign companies providing digital services in India if turnover exceeds?

₹10 lakh

₹20 lakh

₹40 lakh

No threshold, mandatory for all

None

38.

Which of the following digital transactions is exempt from GST

E-books sold by foreign publishers

Online coaching services

Online exam fees paid to foreign universities

Subscription to foreign entertainment platforms

None

39.

What is the GST rate for movie streaming services like Netflix and Amazon Prime?

12%

18%

28%

None

40.

What is the GST rate on affordable housing projects?

1% without ITC

5% with ITC

12% without ITC

18% with ITC

None

1 out of 4

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