Deck 1: Concepts Related to GST in India

Question 1

GST was introduced in India with effect from

A)1.1.2017
B)1.4.2017
C)1.1.2018
D)1.7.2017

Answer 1

1.7.2017

Question 2

Goods and service tax is _________

A)supply based
B)consumption based
C)both supply and consumption based
D)transaction based

Answer 2

consumption based

Question 3

Inter-state trade is presently subject to

A)sgst
B)cgst
C)integrated gst
D)utgst

Answer 3

integrated gst

Question 4

GST can be collected by

A)any registered dealer
B)any gst dealer
C)any service provider
D)any dealer

Question 5

The chair of GST Council

A)nominated by the govt
B)nominated by the gst council
C)union finance minister
D)elected by the gst council

Question 6

Where the location of the supplier and the place of supply are in two different States _________

A)igst is applicable
B)cgst is applicable
C)sgst plus cgst is applicable
D)cgst plus igst is applicable

Question 7

One tooth paste and tooth brush and a toilet soap sold in a packet for Rs. 50, is

A)mixed supply
B)composite supply
C)joint supply
D)not supply

Question 8

The notified limit for payment of composition levy is ______________

A)rs. 1 crore
B)rs. 20lakh
C)rs. 50 lakh
D)rs. 2 crore

Question 9

A Composite taxpayer is required to file summarised details of transactions

A)annually
B)half yearly
C)quarterly
D)monthly

Question 10

Introduction of GST affects the revenue of

A)consuming states
B)manufacturing states
C)all the states
D)central government

Question 11

Goods which get input tax credit without being liable to collect output tax is called

A)exempt goods
B)white goods
C)sin goods
D)zero rated goods

Question 12

Any goods other than capital goods used or intended to be used by a supplier in the course or furtherance of business is

A)input
B)output
C)merit goods
D)white goods

Question 13

If application for registration is ___________________________, the registration shall be effective from the date on which the person becomes liable for registration.

A)made within 30 days
B)not made within 30 days
C)made within 60 days
D)not made within 30 days.

Question 14

When turnover during a financial year exceeds__________________ the accounts and other records must be audited by a chartered accountant or a cost accountant

A)1 crore
B)2 crore
C)5 crore
D)10 crore

Question 15

The tax applicable to interstate supplies will be:

A)sgst only
B)cgst only
C)igst only
D)cgst-igst

Question 16

A person is liable to registered under GST law where aggregate sale of good exceeds__________________ after 1.4.2019. in general category

A)rs.40,00,000
B)rs.20,00,000
C)rs.15,00,00 0
D)rs.1,50,000

Question 17

GST is applicable on___________________________ of goods or services.

A)supply
B)manufacture
C)consumpti on
D)production

Question 18

The first 2 digit of GSTIN represent___________________________

A)entity code
B)country code
C)state code
D)checksum character

Question 19

The definition of goods under the GST Act does not include_________

A)grass
B)growings crops
C)actionable claims
D)money & securities

Question 20

If the payment to the supplier of goods or services is not made within__________________from the date of issue of invoice, the input tax credit on such goods or services cannot be availed.

A)6 months
B)180 days
C)45 days
D)30 days

Question 21

Electronic Way Bill is compulsory to move goods of worth

A)rs. 10,000 or more
B)20,000 or more
C)50,000 or more
D)1,00,000 or more

Question 22

An e-commerce operator neither having physical presence in the taxable territory not a representative in the said territory, shall__________________

A)not supply goods and/or services in that taxable territory.
B)not be liable for collecting and paying taxes on supply in such taxable territory.
C)ask the recipient to pay taxes on his behalf.
D)appoint a person in the taxable territory for the purpose of paying taxes.

Question 23

Every operator who collects the amount of tax has to furnish the details of the same within__________________after the end of the month.

A)15 days
B)1 month
C)20 days
D)10 days