Test 910

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Subject: Indirect Tax Laws and Practice

Total Number of Question: 40

Time: 41 Minutes

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GST is a tax on the supply of goods and services except:

Exports

Agricultural products

Imports

Both a and b

None

Which of the following is not a type of GST?

CGST

SGST

IGST

UGST

None

The primary objective of GST is:

To increase government revenue

To simplify the tax structure

To control inflation

To encourage exports

None

Which tax does IGST apply to?

Interstate supply of goods and services

Intrastate supply of goods

Export of goods

Service tax on inter-state services

None

What is the full form of GSTN?

Goods and Services Tax Network

Goods and Services Tax National

Goods and Services Tax New

Goods and Services Tax Node

None

Which of the following is a taxable event under GST?

Sale of goods

Supply of goods and services

Purchase of goods

Import of goods

None

Which of the following transactions is exempt from GST?

Supply of books

Supply of luxury goods

Services by way of renting a hotel room

Services by way of transportation of goods by air

None

A business is liable to be registered under GST if its aggregate turnover exceeds:

₹20 lakh

₹40 lakh

₹80 lakh

₹70 lakh

None

Which form is used for filing a summary of outward supply in GST?

GSTR-1

GSTR-2

GSTR-3

GSTR-4

None

10.

A registered person must file GSTR-3B within how many days from the end of the month?

10 days

20 days

30 days

40 days

None

11.

Which of the following forms is used for the filing of annual GST returns?

GSTR-9

GSTR-3B

GSTR-1

GSTR-96

None

12.

The GST system provides for which type of tax credit?

Input Tax Credit

Export Tax Credit

Sales Tax Credit

Revenue Credit

None

13.

When must the taxpayer pay the GST liability?

Within 30 days

By the 15th of the next month c) By the due date of filing GSTR-3B

By the due date of filing GSTR-3B

At the time of supply

None

14.

What is the penalty for non-filing of GST returns?

₹100 per day

₹50 per day

₹600 per day

₹1000 per day

None

15.

Which of the following is classified as Customs Duty?

Additional Customs Duty (CVD)

GST on imports

Excise Duty on imports

VAT on imported goods

None

16.

What is the main purpose of the anti-dumping duty?

To protect consumers

To protect the domestic industry from unfair competition

To reduce the cost of imported goods

To increase export revenue

None

17.

What is the duty levied on goods imported into India called?

Sales tax

Basic Customs Duty (BCD)

Excise Duty

Value Added Tax (VAT)

None

18.

Which of the following is not subject to Customs Duty in India?

Goods imported for personal use

Goods imported for trade

Capital goods imported for manufacturing

Goods exported from India

None

19.

Which of the following is an example of a VAT exempt item?

Food items

Luxury cars

Tobacco

Services

None

20.

Which form is required to be filed by an importer for clearing goods from customs?

Bill of Entry

GST Return

Form 12A

Export Declaration

None

21.

Who is responsible for collecting VAT from the customer?

Supplier

Customer

Government

VAT Consultant

None

22.

Which of the following taxes is typically not included under VAT?

VAT on sale of goods

VAT on services

VAT on exports

VAT on imports

None

23.

Which of the following is a feature of VAT?

Tax is levied only on the final sale

Only the final consumer pays the tax

Tax is levied on value addition at each stage

Only wholesale traders pay VAT

None

24.

VAT is administered by the:

Central Government

State Government

Local Government

Ministry of Finance

None

25.

The Service Tax Act was replaced by GST in India with effect from:

July 1, 2017

January 1, 2017

April 1, 2018

June 30, 2017

None

26.

Which of the following is a type of taxable service under Service Tax law?

Renting of immovable property

Sale of goods

Purchase of services

Import of goods

None

27.

Which service is exempted from Service Tax under the pre-GST regime?

Transport of goods by air

Services by a charitable trust

Services provided by a consultant

Taxable services by a company

None

28.

Under the Service Tax regime, what is the rate applicable on taxable services?

15%

12%

25%

None

29.

Which of the following is an exempt supply under GST?

Goods provided to employees as per employment contract

Export of services

Inter-state sales

Both a and b

None

30.

A taxpayer can claim a refund of GST paid on exports if the export is:

Zero-rated

Fully taxable

Partially taxable

Not subject to GST

None

31.

Which form is used for claiming a refund of unutilized Input Tax Credit (ITC) under GST?

GSTR-3B

GSTR-9

GST RFD-01

GSTR-10

None

32.

In case of excess payment of GST, the taxpayer is allowed to:

Transfer the excess to the next financial year

Claim a refund

Adjust against other liabilities

Both b and c

None

33.

The GST Act provides for an anti-profiteering provision to:

Ensure that the benefit of reduced tax rates is passed on to consumers

Prevent businesses from overcharging customers

Ensure that no tax evasion occurs

Regulate the pricing of luxury goods

None

34.

Which of the following is not a key objective of the GST Council?

Making recommendations on tax rates

Overseeing the implementation of GST

Collecting tax revenues

Recommending policies for tax laws

None

35.

Which of the following is a purpose of the Reverse Charge Mechanism (RCM) under GST?

To increase tax compliance

To shift the tax payment responsibility from supplier to recipient

To levy taxes only on services

To reduce taxes for export services

None

36.

Under the GST regime, the following is subject to GST:

Import of goods only

Import of services only

Both import of goods and services

Domestic sale of goods only

None

37.

What is the GST rate for restaurants serving non-alcoholic beverages?

15%

25%

12%

None

38.

What does HSN stand for under GST?

High Standard Number

Harmonized System of Nomenclature

High Sales Number

Harmonized Sales Name

None

39.

A taxpayer who does not have a PAN can apply for GST registration using:

Aadhaar card

Passport

Voter ID

Aadhar and other documents

None

40.

Which of the following taxes is excluded from the scope of GST?

Stamp duty

Customs duty

Income tax

All of the above

None

1 out of 4

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