Suraj Patel Education
Indirect Tax
T.Y.Bcom and M.Com ( Regular) Question Bank-2020
Part 2 Link Click Here
https://www.surajpateleducation.com/2020/10/goods-and-services-indirect-tax.html
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1) GST Stands for
a) Goods and Supply Tax
b) Government Sales Tax
c) Goods and Services Tax
d) Good and Simple Tax
2) GST is levied in India on the basis of Principle.
a) Origin
b) Destination
c) Either a or b
d) Both a or b
3) In India, GST structure is______ in nature.
a)
Single
b) Dual
c) Triple
d) (a) & (b) both
4) GST is not levied on which of the following ?
a) Alcoholic Liquor for Human Consumption
b) Five Petroleum Products
c) Immovable Property
d) All of above
5) ______ is levied on Intra-State Supply of goods and/or Services.
a) CGST
b) SGST
c) IGST
d) Both a & b
6) _______ is levied on Inter
State Supply of Goods and/or Services.
a) CGST
b) SGST
c) IGST
d) Both a & b
7) _______ is levied on Intra
State Supply of Goods and/or Services in Union Territory.
a) SGST
b) IGST
c) UTGST
d) GST is not levied
8) Goods and Services Tax is a
tax levied on goods and services imposed at each point of ______
a) Sale
b) Service
c) Supply
d) Manufacturing
9) Which of the following is not a bill passed by parliament for the
implementation of GST in India?
a)
The Central GST Act, 2017
b) The State GST Act, 2017
c) The Integrated GST Act, 2017
d) None of above
10) ______ Petroleum products
have been temporarily been kept out of GST.
a) One
b) Two
c)
Three
d) Five
11) The following tax has been subsumed into Central GST.
a) Central Sales Tax
b) Custom Duty
c) Service Tax
d) All of the above
12) GST was introduced in India on
a) 1-4-2017
b) 1-5-2017
c) 1-6-2017
d) 1-7-2017
13) Indian GST model has______ tier rate structure.
a) 3
b) 4
c) 5
d) 6
14) What does ‘I’ stands for in
IGST?
a) International
b) Internal
c) Integrated
d) Intra
15)
HSN Code Stands for
a) Home Shopping Network
b) Harmonised System of Nomenclature
c) Harmonised System Number
d) Home State Number
16) Five petroleum products viz. petroleum crude, motor spirit (petrol),
high speed diesel, natural gas and aviation turbine fuel have
been kept out of GST____________
a) Permanently
b) Temporarily
c) For one year
d) None of the above
17) The definition of goods under section 2(52) of the CGST Act does not include-
a) Grass
b) Money and securities
c) Actionable claims
d) Growing crops
18) Securities are excluded from
the definition of____________
a) Goods
b) Services
c) Both (a) and (b)
d) Neither (a) nor (b)
19) Money is____________
a) Specifically included in the definition of goods
b) Specifically included in the definition of services
c) Specifically excluded from the definition of goods as well as services
d) None of the above
20)
Which of the following tax is not subsumed in GST ?
a) VAT
b) Stamp Duty
c) Entry Tax
d) Entertainment Tax
21) What are different types of supplies covered under the scope of supply?
a) Supplies made with consideration
b) Supplies made without consideration
c) Both of the above
d) None of the above
22) The activities to be treated as supply of goods or supply of services as
referred to in________ of CGST Act,2017
a) Schedule I of CGST Act
b) Schedule II of CGST Act
c) Schedule III of CGST Act
d) Section 7
23) Which of the following taxes will be levied on Imports?
a) CGST
b) SGST
c) IGST
d) None of the above
24) _______ specifies the
activities to be treated as supply even if made without Consideration
a) Schedule I of CGST Act
b) Schedule II of CGST Act
c) Schedule III of CGST Act
d) All of the above
25) Supply includes import of
services for a consideration____________
a) Only if in the course or furtherance of business
b) Only if not in the course or furtherance of business
c) Whether or not in the course or furtherance of business
d) None of the above
26) Renting of immovable
property is_____________
a) Supply of goods
b) Supply of services
c) Neither as a supply of goods nor a supply of services
d) Either as a supply of goods or a supply of services
27)
Services by an employee to the employer in the course
of or in relation to his employment is_________
a)
Supply of goods
b) Supply of services
c) Neither as a supply of goods nor a supply of services
d) Either as a supply of goods or a supply of services
28) Services of funeral, burial, crematorium or mortuary including transportation
of the deceased shall be treated as__________
a) Supply of goods
b) Supply of services
c) Neither as a supply of goods nor a supply of services
d) Either as a supply of goods or a supply of services
29) Actionable claims, other
than lottery, betting and gambling shall be treated as____________
a) Supply of goods
b) Supply of services
c) Neither as a supply of goods nor a supply of services
d) Either as a supply of goods or a supply of services
30) ______________Specifies the activities which are neither to be treated as
supply of goods nor a supply of Services.
a) Schedule I of CGST Act
b) Schedule II of CGST Act
c) Schedule III of CGST Act
d) All of the above
31) Transfer of the title in
goods shall be considered as____________
a) Supply of goods
b) Supply of services
c) Neither as a supply of goods nor a supply of services
d) Either as a supply of goods or a supply of services
32) Any treatment or process
which is applied to another person’s goods shall be treated as_______
a) Supply of goods
b) Supply of services
c) Neither as a supply of goods nor a supply of services
d) Either as a supply of goods or a supply of services
33) What would be the tax rate
applicable in case of composite supply?
a) Tax rate as applicable on principal supply
b) Tax rate as applicable on ancillary supply
c) Tax rate as applicable on respective supply
d) None of the above
34) What would be the tax rate
applicable in case of mixed supply?
a) Tax rate as applicable on supply attracting the lowest rate of tax
b) Tax rate as applicable on supply attracting the highest rate of tax
c) Tax @ 28%
d) None of the above
35) A supply comprising of two or more supplies shall be treated as the supply of that
particular supply that attracts highest rate of
tax.
a) Composite
b) Mixed
c) Both (a) and (b)
d) None of the above
36) What is the maximum rate
prescribed under CGST Act?
a) 12%
b) 28%
c) 20%
d) 18%
37) In case of services by an
insurance agent to Ms. ABC Insurance Co. Ltd., GST is to be paid by:
a) Insurance Agent
b) ABC Insurance Co. Ltd.
c) Both
d) None of the above
38) Sitting fees received by
director of XYZ Ltd., is liable for GST in the hands of the
a) Director
b) XYZ Ltd.
c) Both of above
d) None of the above
39) Reverse charge under section
9(3) of the CGST Act is applicable:
a) Only on notified services
b) Only on notified goods
c) On Notified goods & services
d) On None of the above
40) Reverse charge is
applicable:
a) Only on intra-State supplies
b) Only on inter-State supplies
c) Both intra-State and inter-State supplies
d) None of the above
41) What is the threshold limit of turnover in the preceding financial year for opting to
pay tax under composition scheme for
States other than special category States?
a) ₹ 20 lacs
b) ₹ 10 lacs
c) ₹ 50 lacs
d) ₹ 1.5 crore
42) Who will notify the rate of tax to be levied under CGST Act?
a) Central Government suo moto
b) State Government suo moto
c) GST Council suo moto
d) Central Government as per the recommendations of the GST Council
43) What is the maximum rate
prescribed under UTGST Act?
a) 14%
b) 28%
c) 20%
d) 30%
44) In case of sponsorship
services provided by Mr. A to M/s AB Ltd. ,liability to pay GST is on:
a) Mr. A
b) M/s AB Ltd.
c) Both
d) None of the above
45) What is the threshold limit of turnover in the preceding financial year for opting to
pay tax under composition scheme for special category states?
a) ₹ 25 lacs
b) ₹ 50 lacs
c) ₹ 75 lacs
d) ₹ 1 crore
46) What is the rate applicable under CGST to a registered person being a manufacturer
opting to pay taxes under composition scheme?
a) 2.5%
b) 1%
c) 0.5%
d) No composition for manufacturer
47) Mr. Richard, a trader in Delhi has opted for composition scheme of taxation under GST.
Determine the rate of total GST
payable by him under composition scheme:
a) 0.5% CGST & 0.5% SGST
b) 2.5% CGST & 2.5% UTGST
c) 5% IGST
d) 5% UTGST
48) Can composition scheme be
availed if the registered person effects inter-State 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
49) Can a registered person
under composition scheme claim input tax credit?
a) Yes
b) No
c) Input tax credit on inward supply of goods only can be claimed
d) Input tax credit on inward supply of services only can be claimed
50) 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 is paid on reverse charge basis
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