1. 1
General Instructions:
1) Time Duration: 45 Minutes
2) Put correct option in Your Answer box.
3) For every correct answer, 2 Marks will be awarded
4) Double options not allowed
5) No negative marks and no marks to unanswered question.
Qn.
No.
Question & Answer Choices
Correct
Answer
1 How the aggregate turnover of Rs. 20 Lakh is calculated?
a) Aggregate value of all taxable supplies, exempt supplies, export of goods/services and interstate supplies of a person having
same PAN computed on all India basis.
b) Aggregate value of all taxable supplies, exempt supplies, export of goods/services and interstate supplies of a person computed
for each state separately.
c) Aggregate value of all taxable intrastate supplies, export of goods/services and exempt supplies of a person having same PAN
computed for each state separately.
d) Aggregate value of all taxable supplies, exempt supplies, export of goods/services and interstate Supplies of a person having
same PAN computed on all India basis and excluding taxes if any charged under CGST Ac SGST Act and IGST Act.
D
2 Which of the following will be excluded from the computation of 'aggregate turnover'?
a) Value of Taxable supplies
b) Value of Exempt Supplies
c) Non-taxable supplies
d) Value of inward supplies on which tax paid is on Reverse Charge basis
D
3 Whether all persons are mandatorily required to obtain registration?
a) Yes
b) Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services and for others if
specified threshold limit exceeds in a financial year.
c) Not required if he is an agriculturist or person exclusively engaged in supplying exempt goods or services.
d) No, only if specified threshold exceeds in a financial year then only need to obtain.
C
2. 2
4 What are the factors differentiating Composite Supply & Mixed Supply?
a) Nature of bundling i.e. artificial or natural
b) Existence of Principal Supply
c) Both of the above
d) None of the above
C
5 An invoice must be issued?
a) at the time of removal of goods
b) on transfer of risk and rewards of the goods to the recipient
c) on receipt of payment of supply
d) earliest of the above date
A
6 Accounts are required to be maintained in
a) Manual form
b) Electronic form
c) Manual and electronic form
d) manual or electronic form
D
7 Can Composition scheme be availed if the registered person effects interstate supplies?
a) Yes
b) No
c) Yes, subject to prior approval of the Central Government
d) Yes, subject to prior approval of the concerned State Government
B
8 What is the maximum time limit to claim the Input tax credit?
a) Till the date of filing annual return
b) Due date of September month which is following the financial year
c) Earliest of (a) or (b)
d) Later of (a) or (b)
C
9 Can Input tax credit on capital goods and Inputs be availed in one instalment or in multiple instalments?
a) In thirty-six instalments
b) In twelve instalments
c) In one Instalment
d) In six instalments
C
10 What is the full rate of tax applicable under GST Law for registered person being a hotelier under composition scheme?
a) 1%
b) 2%
c) 5%
d) None of the above
C
3. 3
11 The portion of Un-availed K-VAT Credit on Capital Goods be carried forward as:
a) CGST
b) SGST
c) IGST
d) CGST or SGST at the option of the supplier
B
12 The value of supply of goods and services shall be the
a) Transaction value
b) Market Value
c) MRP or declared Tariff
d) None of above
A
13 Whether credit on capital goods can be taken immediately on receipt of the goods in GST?
a) Yes
b) No
c) After usage of such capital goods
d) After Capitalizing in books of Accounts A
14 Is it mandatory that the tax on the supply has to be paid by the supplier so that the recipient can claim credit?+
a) No
b) Yes
c) Credit in Form 2 A is enough
d) Any other proof he provides is enough
B
15 An E-Commerce operator should get registered irrespective of his threshold limit?
a) Yes.
b) No, required to register only if his aggregate turnover exceeds the threshold limit.
c) Yes, if he is located in North-western states.
d) He is required to register if he is liable to collect tax at source and his aggregate turnover exceeds the threshold limit.
A
16
A person who has applied for registration can?
a) provisionally collect tax till registration is approved, on applying for registration if he has applied for registration within prescribed time
b) neither collect tax nor claim input tax
c) issue revised invoice and collect tax within one month of date of issuance of certificate of registration subject to the condition
d) all of the above
C
17 The books and other records under section 35 are to be maintained at
a) Place where the books and A/cs are maintained
b) Place of the address of the proprietor or partner, director, principle officer
c) Principle place of business mentioned in the certification of registration
d) Any of above
C
4. 4
18 How supply of goods in the course of import of territory of India to treated?
a) Interstate supply
b) Intrastate supply
c) Export
d) Inter-state trade or commerce
A
19 What are the taxes levied on an intra-State Supply?
a) SGST
b) CGST
c) CGST and SGST
d) IGST
C
20 What are the supplies on which reverse charge mechanism under Section 9(3) would apply?
a) Only Notified categories of goods or services or both
b) All Inward supply of goods or services or both from an unregistered dealer
c) Both of the above
d) None of the above
A
21 What will happen if the turnover of a registered person opting to pay taxes under composition schemes during the Financial Year
2017-18 crosses Rs.1 Crore?
a) He can continue under composition scheme till the end of the financial year
b) He will be liable to pay tax at normal rates of GST on the entire turnover for the whole financial year 2017-18
c) He will cease to remain under the composition scheme with immediate effect
d) He will cease to remain under the composition scheme from the quarter following the quarter in which the aggregate turnover
exceeds Rs.1 Crore
C
22 ITC as credited in Electronic Credit ledger can be utilized for
a) Payment of Interest also
b) Payment of penalty & interest
c) Payment of Fine only
d) Payment of Taxes only
D
23 The registered person has paid IGST by treating an intra-State supply as inter-State supply. The officer has levied CGST and SGST
as the same is intra-State supply. What is the remedy?
a) Pay CGST and SGST along with applicable interest
b) Pay CGST and SGST and Claim refund of IGST
c) Forgo IGST paid
d) None of the above
B
5. 5
24 What is the purpose of E-Way?
a) To ensure goods being transported comply with the GST Law
b) It is an effective tool to track movement of goods and check tax evasion.
c) Both (a) & (b)
d) None of the above
C
25 All fiscal statutes prescribe methods for carrying out assessments, meant to-
a)find out statutory compliance as stipulated under that particular law
b) find out the wastage of financial resources occurring in operations
c) estimate the GDP of the country
d)None of the above
A
26 For requisition for provisional assessment, which of the following is the criteria:
a) the goods or services are not available for supply
b) the proper officer is not available for assessment
c)either tax rate or value or both of goods/services not ascertainable
d) the amount of duty is not available for payment
C
27 Which of the following sections deals with CGST Assessment :
a) Section 110
b) Section 108
c) Section 94
d) None of the above
D
28 FORM GST ASMT-01 seeking provisional assessment should be filed
a) by the assessee
b) by the authorized officer
c)by the system automatically
d)by the service recipient
A
6. 6
29 The proper officer shall issue a provisional assessment order in
a) FORM GST ASMT-03
b) FORM GST ASMT-04
c) FORM GST ASMT-02
d) FORM GST ASMT-05
B
30 The proper officer shall finalise the provisional assessment
a) within six months from the date of communication of the provisional order
b) within six months from the date of application
c) there is no time fixed
d)within 12 months from the date of application
A
31 Where the tax liability as per the final assessment is higher than the tax paid at the time of filing of return u/s 39, the registered
person shall:
a) not be liable to interest, provided he proves that his actions were bonafide
b) be liable to pay interest from due date till the date of actual payment
c) be liable to pay interest from date of the final assessment till the date of actual payment
d) be liable to pay interest from due date till the date of the final assessment
B
32 Provisional assessment under the GST law is permitted to be:
a) At the instance of the taxable person
b) At the instance of the tax authorities on a best judgment basis in absence of
adequate details or response from registered person
c) Either of (a) and (b)
d) Available only to certain notified persons
A
33 Section 61 of the CGST Act provides that the proper officer may scrutinize a return:
a) to examine the periodicity of filing
b) with a view to verifying the correctness thereof
c)only to verify the HSN classification of the goods
d)to refer it to special audit
B
7. 7
34 Upon scrutiny if any discrepancies in the return are discovered by the proper officer
a) the assessee shall be informed of the same
b) the premises of the assessee shall be searched
c)audit of records be ordered
d)the assessee shall be summoned
A
35 As per rule 99 of CGST Rules 2017, in case of any discrepancy, proper officer shall issue a notice to the said person in FORM –
a) GST ASMT-7
b) GST ASMT-8
c) GST ASMT-9
d) GST ASMT-10
D
36 To verify compliance during scrutiny, factor that cannot be examined is
a) Tax rates with respect to the notifications issued
b) Values of supply satisfy the conditions of a transaction value
c)Time of payment is as per the section 12/13 of CGST Act
d)All India information about the assessee
D
37 What is the time limit after which action under section 61 cannot be taken?
a) 30 days from filing of return or such further period as may be decided by proper officer.
b) No time Limit
c) Time limit mentioned in Section 73 or 75 of the Act
d) six months from the date of scrutiny
C
38 What is the time limit, within which the registered person should take corrective measures after accepting the discrepancies
communicated to him by proper officer?
a) reasonable time
b) 30 days from the date of communication of discrepancy.
c) 30 days from date of acceptance of the discrepancy
d) date of filing of return for the month in which the discrepancy is accepted
B
39 The Section 62 of the GST Act provides for assessment of a registered person if he fails to file-
a) the monthly return by the supplier
b) the annual return
c)the final return
d)all the above
D
8. 8
40 Issuing notice under section 46
a) a pre-condition for initiating proceedings under Section 62 of the Act
b) is resorted to only when the assessee is suspected to be absconding
c)is not mandated for assessment of non-filers
d)is at the discretion of the proper officers while doing assessment of non-filers
A
41 If the registered person furnishes a ‘valid return’ within 30 days of the service ofassessment order
a) the assessment will be regularised with a penalty
b) the said assessment order shall be deemed to be withdrawn
c)the assessee will be issued a notice under section 46 of the GST Act
d)none of the above
B
42 If the liability relates to goods and is difficult to ascertain the person liable to tax then:
a)the move to assess is dropped
b)the person in-charge of the goods shall be deemed to be liable to pay the tax
c)notice will be issued for attachment of the goods
d)none of the above
B
43 Where the tax authorities notice a discrepancy during the scrutiny of returns, the registered person:
a) would be liable for interest if he is unable to prove that the discrepancy did notarize on his account and it was a fault of
another person
b) is required to provide satisfactory/ acceptable explanation for the same within 30days or any extended timelines as may
be permitted
c) must prepare documents to cover up the discrepancy.
d) Both (a) and (b)
B
44 Which is the permissible mode for Payment to have balance in GST electronic cash ledger :
a) Net Banking
b) Over the Counter (OTC)
c) C) by NEFT/RTGS
d) All of the above
D
9. 9
45 What is the Aggregate Turnover Limit to opt GST Composition Scheme
a) Rs.50 Lakh
b) Rs.75 Lakh
c) Rs. 100 Lakh
d) Rs. 150 Lakh
C
46 What is the time limit allowed to cancel E-Waybill done online?
a) Within 8 Hours of generation
b) Within 24 Hours of generation
c) Upto 36 Hours of generation
d) Till 2 Days of generation
B
47 How does a registered taxable person entitled to avail input tax credit to offset his liability in GST?
a) All amounts paid by the same person in cash
b) Only those amounts which are credited to the bank account of the tax payer
c) Only those amounts which are credited to the electronic credit ledger of such person
d) All amounts paid in Cheque
C
48 Taxes which are not subsumed in GST are:
a) Income tax
b) Motor Vehicle Tax
c) Customs Duty
d) All of the above
D
49 What is Time of Supply in GST?
a) Means the point in Time when goods/services are considered as supplied.
b) To determine the liability and due date for Payment of Tax
c) Both a & b
d) None of the above
C
10. 10
50 Whether tax paid under Section 74 or Section 129 orSection130 be claimed as input tax credit or taken as cash to offset the tax
liabilities of regular returns?
a) No.
b) Yes, to all
c) Only 129 & 130 is allowable
d) Not fully but, only 74 & 129 can be allowed
A
51 What should the taxable person do if he pays tax under wrong GSTIN?
a) Pay again under right GSTIN and claim refund
b) Auto adjustment available
c) File an application for adjustment
d) Raise invoice and adjust
A
