Test 911

Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform !

Subject: Indirect Tax Laws and Practice

Total Number of Question: 40

Time: 41 Minutes

All the best...

Kind Regards

CMA Madhuri Kashyap

Profile: Click Here!

Name

Phone No

Area Pin Code

GST is levied on which of the following?

Supply of goods

Supply of services

Import of goods and services

All of the above

None

The GST system is based on the principle of

Single point taxation

Multiple point taxation

Taxation based on turnover

Taxation on goods only

None

The Goods and Services Tax Act was passed in which year?

2015

2016

2017

2018

None

Under GST, the taxpayer is required to file returns:

Quarterly

Annually

Monthly

Both monthly and annually

None

Which of the following taxes is not subsumed under GST?

Central Excise Duty

State VAT

Customs Duty

Stamp Duty

None

The first GST return that a taxpayer must file is:

GSTR-1

GSTR-3B

GSTR-9

GSTR-4

None

Which of the following is an example of a mixed supply under GST

A pack of biscuits with a bottle of cold drink sold together

A laptop with accessories sold separately

A single product sale

Taxable supply of services

None

Which form is used to apply for GST registration?

GST RFD-01

GST REG-01

GST-1

GST-3B

None

GST applies on which of the following?

Sale of land

Sale of immovable property

Sale of securities

Sale of goods and services

None

10.

The 'place of supply' provisions under GST are important for determining

The applicable tax rate

The correct category of goods

The appropriate tax authority

The state in which GST should be paid

None

11.

Under GST, Input Tax Credit (ITC) is available on which of the following?

Capital goods

Raw materials

Services used for business

All of the above

None

12.

Which of the following conditions must be met for availing Input Tax Credit (I

The goods or services must be used for business purposes

The tax must have been paid on the goods or services

The taxpayer must be in possession of a valid tax invoice

All of the above

None

13.

ITC can be claimed only if the invoice is reported in which form?

GSTR-1

GSTR-3B

GSTR-9

GSTR-7

None

14.

Which of the following does not allow the claim of Input Tax Credit (ITC)?

Purchase of taxable goods

Purchase of non-taxable goods

Export of goods and services

Input services used for business purposes

None

15.

What is the time limit for claiming Input Tax Credit (ITC) under GST?

Within 6 months from the date of invoice

Within the financial year

Within 1 year from the date of purchase

Within 2 years from the date of invoice

None

16.

The highest GST rate levied on goods and services is:

12%

18%

28%

None

17.

Which of the following is subject to a 5% GST rate?

Cement

Processed food

Electricity

Hotel accommodation

None

18.

Which of the following items is exempt from GST?

Health services

Air conditioning services

Mobile phones

Luxury cars

None

19.

Which of the following items attracts a GST rate of 28%?

Alcohol

Tobacco products

Vegetables

Medicines

None

20.

GST on services is usually classified under which rate structure?

Single rate

Multiple rates

Zero rate

Fixed rate

None

21.

Which of the following is not a type of GST registration?

Regular taxpayer

Composition scheme

Casual taxable person

Corporate registration

None

22.

A taxable person whose aggregate turnover exceeds ₹40 lakh in a financial year needs to compulsorily register under:

Composition scheme

Regular GST

GST as a casual taxpayer

GST as a non-resident taxpayer

None

23.

Under which of the following conditions is GST registration required for nonresident taxable persons?

When they provide taxable services

When they supply goods

When they supply services over ₹20 lakh in turnover

Both a and b

None

24.

A person having a turnover of ₹15 lakh in the North-Eastern states is required to get registered under GST if:

His aggregate turnover exceeds ₹10 lakh

He is a casual taxable person

He is engaged in the supply of goods and services

He supplies only exempt goods

None

25.

Which of the following is not a consequence of non-compliance of GST registra

Penalty

Prosecution

Disqualification from GST filing

Refund of taxes

None

26.

Which of the following is a penal provision under the GST law?

Failure to register

Failure to file returns

Incorrect invoicing

All of the above

None

27.

A taxpayer who has failed to pay taxes can be penalized with:

A fine of ₹10,000

A fine of ₹5,000

Penalty of ₹50,000

Interest and penalty

None

28.

The maximum penalty under GST for failure to file returns is:

₹1,000 per day

₹5,000 per day

₹10,000 per day

₹50,000 per day

None

29.

The penalty for incorrect tax invoice or fraudulent claims under GST can be:

₹25,000

₹50,000

₹75,000

₹1,00,000

None

30.

In case of tax evasion, the penalty can be up to:

25% of tax evaded

50% of tax evaded

100% of tax evaded

200% of tax evaded

None

31.

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

Services provided by a partnership firm to a company

Goods purchased from an unregistered person

Export of services

Sale of goods to the government

None

32.

Under GST, the GST Council has the power to:

Fix tax rates

Issue circulars on specific issues

Approve exemptions

All of the above

None

33.

Which of the following is a specific provision under GST?

Reverse charge on import of goods

Specific exemptions for small businesses

Deduction of tax at source

All of the above

None

34.

Under the GST law, the supply of which of the following is treated as a ‘zero-rated’ supply?

Exports

Import of services

Exemption on low-value goods

Sales of goods to government bodie

None

35.

Who is responsible for determining the HSN code under GST for different goods

The supplier

The buyer

The GST authorities

The GST Council

None

36.

The refund of GST is available in case of

Export of goods

Inverted duty structure

Excess payment of tax

All of the above

None

37.

Which of the following is the time limit to apply for GST refund under normal circumstances?

3 months

6 months

1 year

2 years

None

38.

In the case of export of goods, the refund of Input Tax Credit (ITC) can be claimed by filing which form?

GST RFD-01

GSTR-3B

GSTR-9

GSTR-1

None

39.

What is the process for claiming a refund under the GST regime?

Submit a refund application

Provide bank details

Attach relevant document

All of the above

None

40.

Refund of unutilized Input Tax Credit (ITC) can be claimed if the goods are:

Sold in India

Exported outside India

Used for manufacturing

Transferred to another state

None

1 out of 4

Great job on taking the INCOC Test!

We appreciate your interest in test.

Look out for results and future opportunities.

Stay Connected !!

Your quiz time is about to finish. Few seconds left.

1 2 3 4

Time's up

You cannot switch tabs while taking this quiz!

You are not allowed to switch tabs violation has been recorded.

you cannot minimize full screen mode!

You are not allowed to minimize full screen while taking this quiz, violation has been recorded.

Access denied! To begin the quiz, please grant this quiz access to your camera.

Time is Up!

support@incoc.in

Company

Events

Resources