Test 912

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Subject: Indirect Tax Laws and Practice

Total Number of Question: 40

Time: 41 Minutes

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CMA Madhuri Kashyap

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The term ‘GST’ stands for:

General Sales Tax

Goods and Services Tax

Goods Standard Tax

General Standard Tax

None

GST is applicable in which of the following territories?

India

Bhutan

Nepal

Bangladesh

None

The implementation of GST in India began on:

1st April 2017

1st July 2017

1st January 2018

1st March 2016

None

Which of the following taxes is subsumed in GST?

Sales tax

Central Excise Duty

Service tax

All of the above

None

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

Income tax

Custom duty

Goods and services tax

Service tax

None

Which of the following items is subject to a 28% GST rate?

Cement

Processed food

Education services

Motor vehicles

None

The GST rate on luxury hotels with room rent above ₹7,500 per day is:

12%

18%

28%

None

The GST rate for edible oils is:

12%

15%

25%

None

Which of the following products attracts a 12% GST rate?

Food items

Motor vehicles

Processed food

Beauty products

None

10.

GST rate on the supply of ice cream is:

12%

18%

28%

None

11.

Who is required to obtain GST registration in India?

Only large businesses

Any business crossing the threshold limit

Only individuals

Only online businesses

None

12.

What is the threshold limit for GST registration for service providers in India?

₹10 lakh

₹20 lakh

₹40 lakh

₹50 lakh

None

13.

A person who temporarily engages in business operations in India must apply for:

Casual taxable person registration

Regular registration

Exemption from GST registration

Non-resident taxable person registration

None

14.

The GST registration process must be completed within:

30 days

15 days

60 days

45 days

None

15.

A taxpayer who is under the Composition Scheme is not required to:

File returns quarterly

Maintain detailed records

Charge GST at regular rates

File annual GST returns

None

16.

Input Tax Credit (ITC) can be claimed by a taxpayer only when:

The tax is paid on goods and services used for business purposes

The goods and services are used for personal purposes

The tax is paid to the supplier

All of the above

None

17.

ITC is not available on the purchase of which of the following?

Capital goods

Taxable goods

Motor vehicles used for business

Goods used for personal consumption

None

18.

Which of the following is a requirement for claiming Input Tax Credit (ITC)?

The supplier must have a valid GST registration b) The purchase must be from a registered

The purchase must be from a registered dealer

The purchase should be used for business purposes

All of the above

None

19.

In case of a mismatch between the credit availed in GSTR-3B and GSTR-2A, the taxpayer must:

Report the mismatch to GST authorities

Adjust the mismatch in the next return

Reverse the ITC claimed

None of the above

None

20.

ITC on capital goods is spread over a period of:

2 years

5 years

3 years

1 year

None

21.

Which of the following is not a GST return?

GSTR-1

GSTR-2A

GSTR-5

GSTR-7

None

22.

The GSTR-9 form is:

Annual return for normal taxpayers

Taxpayer’s summary of purchases

Taxpayer’s summary of sales

Used for claiming refunds

None

23.

The due date for filing GSTR-3B is a :

20th of every month

10th of every month

15th of every month

25th of every month

None

24.

Which of the following is a consequence of non-filing of GST returns?

Imposition of penalty

Suspension of GST registration

Interest on delayed payment

All of the above

None

25.

What is the maximum time allowed for rectifying errors in GST returns?

6 months

3 months

2 months

1 months

None

26.

The penalty for failure to comply with GST provisions is a minimum of:

₹1,000

₹5,000

₹10,000

₹50,000

None

27.

The penalty for non-payment or short-payment of tax can be up to:

5% of the tax due

25% of the tax due

50% of the tax due

100% of the tax due

None

28.

Which of the following actions would be considered a violation under GST law?

Issuing an incorrect invoice

Non-payment of tax

Tax evasion

All of the above

None

29.

The penalty for providing false information or documents under GST is:

₹25,000

₹50,000

₹1,00,000

₹50,000

None

30.

In case of a serious violation, the GST authorities can:

Prosecute the taxpayer

Suspend the taxpayer's GST registration

Impose a penalty

All of the above

None

31.

Which of the following items is exempted from GST under the “Zero-Rated Supply” category?

Export of goods and services

Supply of luxury goods

Education services

Food services

None

32.

GST on the supply of services by a business with an aggregate turnover of less than ₹20 lakh is:

Nil

Exempt

18%

None

33.

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

Services from unregistered person to a registered person

Export of services

Supply of goods by a registered person

Services from a registered person to a non-registered person

None

34.

Which of the following is a consequence of opting for the Composition Scheme under GST?

Pay tax at a reduced rate

File returns quarterly

No Input Tax Credit available

All of the above

None

35.

Under GST, the value of supply of goods and services is determined based on:

Cost of goods

Sale price

Market price

Transaction value

None

36.

Refund of Input Tax Credit can be claimed if the taxpayer:

Exports goods or services

Is a composition taxpayer

Is engaged in exempt supplies

All of the above

None

37.

The refund application for unutilized Input Tax Credit (ITC) must be filed in:

GSTR-1

GSTR-9

GSTR-3B

GST RFD-01

None

38.

The time limit to file a refund claim under GST is:

6 months from the date of the refund

1 year from the date of the refund

2 year from the date of the refund

13 year from the date of the refund

None

39.

Which of the following is eligible for GST refund?

Excess tax paid

Unutilized Input Tax

Tax paid on exports

All of the above

None

40.

Refund claims under GST can be filed by:

The taxpayer only

The authorized representative

The supplier only

Both a and b

None

1 out of 4

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