Test 303 Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Direct and Indirect TaxationTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. What is the threshold limit for GST registration for service providers in India? ₹10 lakh ₹20 lakh ₹30 lakh ₹40 lakh None 2. Which of the following taxes were subsumed into GST? Income tax Excise duty Custom duty Professional tax None 3. Which of the following is not a type of GST in India? FGST SGST CGST FGST None 4. Who is considered the first point of contact for GST assessment? Supplier Buyer GST Practitioner GST Officer None 5. GST is applicable on which type of supply? Intra-state only Inter-state only Both intra-state and inter-state None of the above None 6. What is the maximum time limit to avail input tax credit (ITC)? 3 months from the date of invoice 1 year from the date of invoice Before filing September return of the next financial year None of the above None 7. Which form is used for filing annual GST returns? GSTR-3B GSTR-9 GSTR-4 GSTR-1 None 8. What is the maximum penalty for delay in filing GST returns? ₹50 per day ₹100 per day ₹200 per day No penalty None 9. Which schedule in GST law describes activities that are treated neither as a supply of goods nor services? Schedule I Schedule II Schedule III None of the above None 10. Composite supply includes: Two or more taxable supplies bundled together Only exempted supplies Only taxable supplies None of the above None 11. Under GST, the reverse charge mechanism applies to: Imports Exports Inter-state transactions Supply to unregistered dealers None 12. Which of the following is not a direct tax? GST Income Tax Corporate Tax Wealth Tax None 13. IGST is levied on: Inter-state supplies Intra-state supplies Both a and b None of the above None 14. What does HSN stand for in GST? Harmonized System of Numbers Harmonized System of Nomenclature Harmonized Sales Number Harmonized Sales Nomenclature None 15. Which form is used to claim a refund under GST? GSTR-3B RFD-01 GSTR-1 GSTR-4 None 16. Under the composition scheme, the rate for manufacturers is: 0.5% 1% 2% 3% None 17. What is the full form of SAC in GST? Service Account Code Service Amount Code Service Accounting Code Service Auditing Code None 18. The due date to file GSTR-3B for a regular taxpayer is: 10th of the next month 15th of the next month 20th of the next month 25th of the next month None 19. *Which of the following is not eligible for input tax credit? Goods used for personal consumption Goods used for business purpose Inputs for production Input services None 20. The term 'Exempt Supply' means: Supply taxable at zero percent Supply not chargeable to tax Supply outside the GST scope None of the above None 21. What is the penalty for minor offenses under GST? 5% of tax due 10% of tax due 20% of tax due 25% of tax due None 22. GST was implemented in India on: April 1, 2017 July 1, 2017 October 1, 2017 January 1, 2018 None 23. Which section of the CGST Act deals with the time of supply of goods? Section 12 Section 13 Section 14 Section 15 None 24. Anti-profiteering measures under GST aim to ensure that: Businesses retain their profits Benefits of tax reduction reach the consumer Tax rates remain constant None of the above None 25. *For inter-state supply of services, which type of GST is applicable? CGST only SGST only IGST UTGST None 26. Which schedule defines activities treated as supply even without consideration? Schedule I Schedule II Schedule III None of the above None 27. Which of the following forms is used for composition dealers to file returns? GSTR-1 GSTR-4 GSTR-3B GSTR-9 None 28. The validity period of an e-way bill is: 24 hours 48 hours Depends on the distance None of the above None 29. What is the maximum GST rate applicable in India? 18% 20% 28% 30% None 30. Under which section of the CGST Act can the Commissioner authorize provisional attachment of property for protecting revenue? Section 80 Section 83 Section 85 Section 87 None 31. What is the time limit for issuance of a tax invoice for the supply of services under GST? Within 30 days from the date of supply Within 45 days from the date of supply On the same day as the supply Before filing the next GSTR None 32. Which of the following is not considered an export of goods under GST? Goods sent out of India for repair Goods sent out of India for sale Goods sold to a foreign buyer All goods leaving India None 33. The GST Council in India is chaired by: The Finance Minister of India The Prime Minister of India The President of India The Reserve Bank Governor None 34. What is the time limit for issuance of a credit note related to a supply in GST? Before filing the next return By 30th September following the end of the financial year Within 6 months from the date of supply Anytime within the same financial year None 35. Which of the following goods are not covered under GST? Alcoholic liquor for human consumption Petroleum crude Electricity All of the above None 36. Which form is used to apply for GST registration? GST REG-01 GST REG-03 GST REG-05 GST REG-10 None 37. Which tax is levied on imports into India? CGST IGST SGST None of the above None 38. What does the term 'Input Service Distributor' mean in GST? A person who distributes credit for goods A person who distributes credit of input tax for services A person who collects tax on behalf of the government None of the above None 39. The GST return that must be filed monthly for outward supplies is: GSTR-1 GSTR-2A GSTR-3B GSTR-4 None 40. What does RCM stand for in GST? Revenue Collection Mechanism Reverse Charge Mechanism Refund Claim Management Return Compliance Management 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 !! Time's upTime is Up!
