MCQs of GST By CA Vivek Gaba Sir PDF

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GST MCQs

CA Vi vek Gaba

Important MCQ of GST By CA Vivek Gaba

(Expected in Exam) 1. Compensation to states under GST (Compensation to States) Act , 2017 is paid by a) Central Government from consolidated fund of India b) Central Government from GST compensation fund of India c) Central Government directly from the collection of compensation cess d) GST Council under Constitution of India. 2. While computing compensation to states, tax revenue of this tax/ these taxes is excluded a) petroleum crude, diesel, petrol, ATF and natural gas b) Alcohol for human consumption c) entertainment tax collected by local authorities d) All of the above 3. Input tax credit on compensation cess paid under GST (Compensation to States) Act, 2017 a) is not available

c) is available

b) is available but not fully

d) is available after one year

4. Maximum rate of CGST prescribed by law for intrastate supply made is---a) 18%

c) 20%

b) 40%

d) 28%+cess

5. Input tax credit on Compensation cess paid under GST (Compensation to States) Act, 2017 is available for payment of a) IGST only b) IGST and CGST only c) compensation under GST (Compensation to States) Act d) None of the above 6. IGST is payable when the supply is --a) Interstate

c) Intra-state

b) Intra- UT

d) All of the above c) to SEZ unit in India

b) Both (a) & (b) above

d) None of the above

With the introduction of GST, imports will be— a) more expensiv

c) cheaper

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8.

a) By SEZ unit in India

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7. Zero rated supply includes supplies made-

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b) neutral with no change

CA Vi vek Gaba

d) None of the above

9. The first committee to design GST model was headed by a) Vijay Kelkar

c) Asim Das Gupta

b) Dr. Chidambaram

d) None of the above

10. First discussion paper (FDP) which formed the basis for GST in 2009 was released by a) Union Finance Ministry

c) Dr. Manmohan Singh

b) GST Council

d) Empowered Committee

11. Roll out of GST requires constitutional amendment because— a) existing laws were cascading b) the powers to levy were exclusive i.e. the state had power to tax the goods but not services and centre had power to tax services and levy on goods c) there are separate laws for goods and services d) All of the above 12. Works contract under GST is goods used in work relating toa) Immovable property b) Both movable and immovable property c) Immovable property treated as supply of service d) Immovable property treated as supply of goods 13. IGST deals with a) Composition scheme b) Time of supply c) Service tax on imported services d) All of the above 14. The turnover limit of Rs. 50 Lakh for composition scheme is not applicable to the state of a) Himachal Pradesh

c) Assam

b) Uttarakhand

d) None of the above

15. A supplier is liable to get registered under GST if his aggregate turnover in a financial year crosses Rs. 20 lakh in a state or UT other than special category states if he isa) an interstate supplier b) an intra-state supplier c) Electronic commerce operator d) Person liable to pay GST under reverse charge 16. One of the following states does not fall under special category given under Art. 279A c) Uttarakhand

b) Chhattisgarh

d) Jammu & Kashmir

17. Exemption from registration is available to

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a) Himachal Pradesh

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of the Constitution

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GST MCQs

CA Vi vek Gaba

a) Central & State Govt. Departments

c) Agriculturists

b) a) & b) above

d) None of the above

18. Agriculturist a) Individual or HUF

c) Individual and HUF

b) Partnership

d) All the above

19. A person is having multiple business requires registration a) Single

c) Each business separately

b) Either A or B

d) None of the above

20. Article _____ of constitution of India empowers parliament to impose IGST in India. a) 69A

c) 265A

b) 279A

d) none of the above

21. Full-fledged GST was recommended by a) Raja Chellaiah committee

c) Vijay Kelkar Task Force

b) GST Council

d) Man Mohan Singh Commission

22. One of the following taxes is already subsumed under GST a) Tax on motor spirit

c) Luxury Tax

b) Tax on production of alcohol

d) Tax on electricity

23. One of the following taxes is not subsumed under GST a) Octroi by local authorities

c) Entertainment tax by local authorities

b) Entry tax by State Governments

d) Tax on lottery by State Governments

24. GST is ______________ a) a value added tax

c) tax on goods and services

b) tax on consumer goods and services

d) none of the above

25. Dual model of GST as adopted in India has been drawn majorly from a) Australia

c) France

b) USA

d) Canada

26. GST is ____________ a) applicable to the state of J&K b) not applicable to the state of J&K c) going to be applicable to the state of J&K from later date d) both (b) and (c) above 27. The rate of GST as applicable on goods and services are: a) 0% 5% 12% 16% 28%

c) 0% 6% 12% 18% 28%

b) 0% 5% 12% 18% 28%

d) 0% 5% 12% 18% 26%

28. Under

which

Constitutional

Amendment

Act,

2016,

constitution

was

amended

to

c) 121

b) 101

d) none of the above

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a) 122

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introduce GST in India

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GST MCQs

CA Vi vek Gaba

29. Under the provisions of GST law, tax is levied a) simultaneously by Union and State laws

c) only by the Union laws

b) only by the State laws

d) exclusively by Union and State laws

30. GST Laws are implemented on the recommendation of a) Central Government

c) GST Network (GSTN)

b) GST Council

d) President of India

31. When did the President of India gave assent to the Central GST Law? a) 18th April 2017

c) 22nd April 2017

b) 5th April 2017

d) 12th April 2017

32. Money means: a) Indian legal tender

c) Cheque/ Promissory note

b) Foreign currency

d) all of the above

33. Where is GST applicable? a) All over India except the state of Jammu and Kashmir b) All over India except the state of Sikkim c) All over India except the state of Meghalaya d) All over India 34. What is the meaning of non-taxable territory? a) Outside taxable territory

c) Inside taxable territory

b) Interstate taxable territory

d) None of the above

35. What does the term “person” includes? a) HUF

c) Individual

b) LLP

d) All of the above

36. GST Council is referred under which Article of the Constitution? a) 279

c) 279A

b) 277

d) 276

37. What is the weight of vote that the Centre has in the GST Council? a) 1/4th of total votes cast

c) 1/3rd of total votes cast

b) 1/2th of total votes cast

d) none of the above

38. What is the weight of vote that the all the States together have in the GST Council? c) 1/4th of total votes cast

c) 2/3rd of total votes cast

d) 1/2th of total votes cast

d) 3/4th of total votes cast

39. Who is the Chairperson of the GST Council a) Finance Secretary

c) Union Finance Minister

b) State’s Finance Minister by rotation

d) Prime Minister c) Centre

b) Both Centre and State

d) exempt from the purview of GST

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a) State

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40. Taxable turnover below ` 1.5 crore is under the control of

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GST MCQs

CA Vi vek Gaba

41. Under which Schedule, power to declare certain activity/ transaction as neither supply of goods nor of services a) Schedule I

c) Schedule III

b) Schedule II

d) Schedule IV

42. When was GST Council constituted? a) 12th September 2016

c) 13th September 2016

b) 20th September 2016

d) 16th September 2016

43. What is address for delivery? a) Recipient address mentioned in the invoice b) Recipient address mentioned in delivery challan c) Not necessarily recipient address d) Recipient address mentioned in the gate pass 44. Who is an agriculturist? a) Individual or HUF

c) Individual and HUF

b) Partnership

d) All of the above

45. An Associated Enterprise is mentioned in? a) Income Tax Act, 1961

c) Central GST Law, 2017

b) State GST Law, 2017

d) Companies Act, 2013

46. Appointed day is __________________ a) date on which the provisions of the act shall come into force b) date on which President gave assent c) date on which both houses passed the act d) date on which it is sent to Finance Ministry 47. What is conveyance? a) vessel

c) vehicle

b) aircraft

d) all of the above

48. Which section mentions about inter-state supply of service? a) section 8

c) section 18

b) section 14

d) section 12

49. Place of supply referred in Integrated Goods and Service Tax Act is mentioned in which Chapter? a) Chapter II

c) Chapter V

b) Chapter III

d) Chapter VIII

50. Deemed Export is mentioned in which section? c) section 147

d) section 142

d) section 145

51. When does Quarter end? a) March

c) September

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c) section 137

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b) December

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d) All of the above

52. What is the rate of levy under composite scheme on the Manufacturer? a) 2 percent

c) 3 percent

b) ½ percent

d) 1 percent

53. An assessee who has opted for the Composite Scheme, is he eligible to take input tax credit? a) Yes

c) No

b) May be

d) In certain cases

54. An assessee who has opted for the Composite Scheme, can he collect tax under GST? c) Yes

c) No

a) May be

d) In certain cases

55. What is the threshold limit for composite tax levy? a) ` 60 lakh

c) ` 50 lakh

b) ` 70 lakh

d) ` 1 crore

56. When does the liability to pay tax on goods arise? a) at the time of supply b) at the time when goods reach supplier c) at the time of preparing invoice d) None of the above 57. The time of supply of goods shall be the earlier of _____________ a) date of issue of invoice

c) last date

b) date of receipt of payment

d) either of the above

58. What does Taxable event mean? a) Tax on supply

c) either a) or b)

b) Tax on services

d) both a) or b)

59. Tax is paid on which value? a) Transaction value

c) manufacturing value

b) manufacturing value plus profit

d) notional value

60. Which of the following condition/s must be satisfied to be eligible to avail Input tax credit? a) on receipt of goods b) on payment of taxes paid by supplier to Govt. c) supplier has to be file return under section 39 d) all of the above c) on other than business expenditure

b) both a) and b)

d) none of the above

62. How is Input Tax Credit on capital goods available?

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a) in the course or furtherance of business

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61. Input Tax Credit is available _________

IGP-CS

GST MCQs

CA Vi vek Gaba

a) in single installment

c) equally in five installment

b) 10% every year

d) none of the above

63. Which sections mentions about the Appellate Tribunal? a) section 109

c) section 103

b) section 119

d) section 105

64. Authorised representative is mentioned in which section? a) section 110

c) section 116

b) section 119

d) section 106

65. In which section is Common portal referred to? a) section 136

c) section 143

b) section 149

d) section 146

66. Debit note and Credit note is mentioned in which section? a) section 36

c) section 34

b) section 39

d) none of the above

67. Valid return is mentioned in which section? a) section 29

c) section 39

b) section 47

d) section 49

68. What is the threshold limit for an individual limit for GST registration? a) ` 10 lakh

c) ` 15 lakh

b) ` 12 lakh

d) ` 20 lakh

69. In which section is “invoice” or “tax invoice” in? a) section 34

c) section 31

b) section 37

d) section 27

70. Electronic cash ledger and Electronic credit ledger is mentioned in which section? a) section 49

c) section 42

b) section 39

d) section 47

71. A person is having multiple businesses required registration a) Single

c) either of the two

b) each business separately

d) none of the above

72. GST registration is a) PAN based

c) passport based

b) Aadhar based

d) none of the above

73. Deemed registration is a) after four working days

c) after five working days

b) after three common working days

d) after seven working days c) 30th September

b) 31st December

d) 31st October

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a) 30th June

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74. Annual Return has to be filed every year:

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GST MCQs

CA Vi vek Gaba

75. IGST is levied on supply of goods and provision of services ____________ a) within state

c) either of a) or b)

b) between two states

d) none of the above

76. IGST is levied on supply of goods and provision of services by ___________ a) Centre

c) State

b) Union Territory

d) both b) and c)

77. Tax deduction at the rate of 1% on certain persons, who are recipients of supply, from the payment made or credited to the supplier where total value of supply, under contract, is exceeding rupees: a) ` 1,00,000

c) ` 2,50,000

b) ` 1,50,000

d) ` 5,00,000

78. The credit of CGST can be utilised for the payment of: a) SGST

c) IGST

b) UTGST

d) none of the above

79. GST would not be applicable to: a) alcohol for human consumption b) petrol c) natural gas d) diesel e) all of the above 80. Which of the following GST bill have been passed by the Parliament? a) GST (Compensation to States) Bill

c) IGST Bill

b) UTGST Bill

d) All of the above

81. Which of the following is not eligible for Composition Scheme: a) Inter-state supply of goods b) manufacture of notified goods c) Person supplying goods through e-commerce sector d) All of the above 82. The following tax will not be subsumed into GST: a) Luxury Tax

c) entertainment tax

b) Electricity duty

d) value added tax

83. Utilisation of integrated GST would be in which order? a) IGST, CGST, SGST

c) IGST, SGST, CGST

b) CGST, SGST, IGST

d) SGST, IGST, CGST

84. Which of the following does Aggregate Turnover under GST does not include?

c) All taxable supplies

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b) export of goods and/ or services

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a) Exempt supplies

IGP-CS

GST MCQs

CA Vi vek Gaba

d) value of inward supplies on which tax has been paid under reverse charge 85. Which of the following is subsumed under Central GST? a) Central Sales Tax

c) Customs Duty

b) Service Tax

d) all of the above

86. Which of the following true in respect of Goods and Service Tax a) It is destination based tax

c) it is a consumption tax

b) It is levied on supply of goods or services d) All of the above 87. What is the threshold limit for composition levy? a) ` 40 lakh

c) ` 1 crore

b) ` 30 lakh

d) ` 70 lakh

88. Which of the following require themselves to be registered compulsory, irrespective of threshold limit? a) Casual taxable person

c) non-resident taxable person

b) Input service distributor

d) all of the above

89. The time of supply of voucher in respect of goods and services shall be a) date of issue of voucher, in case of identifiable supply b) date of redemption of voucher c) both a) and b) d) none of the above 90. Which article of constitution of India empowers the Parliament to impose IGST in India? a) 69A

c) 279A

b) 265A

d) none of the above

91. What does the conditions for supply includes? a) Supply is a taxable service b) Supply is made in the taxable territory c) Supply is made by taxable person d) All of the above 92. Which form has to be filed for withdrawal from composition levy? a) GST CMP 04

c) GST CMP 03

b) GST PCT 2

d) GST MIS 1

93. When the taxable turnover is above ` 1.5 crore, it is under the control of a) State

c) Centre

b) Both Centre and State

d) exempt from the purview of GST

GST is a broad-based tax

II.

GST is a destination based tax

III.

GST is collected through a staged process i.e. a tax on the value added to goods or services at every point in the supply chain

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94. Which of the following statement is correct:-

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GST MCQs

CA Vi vek Gaba

GST is a tax on the consumption of products from business sources, and not on personal or hobby activities a) Only I

b) I & II Both

b) I, II & III

d) I, II, III & IV all statement is correct

95. Which of the following State Taxes have not been subsumed under GST? i.

Road & passenger tax

ii.

Central Sales Tax

iii.

Toll tax

iv.

Luxury Tax

v.

Property tax

vi.

Electricity duty. a) i, iii, v & vi

c) Only iii, iv & v....