Question 1

The chair of GST Council

Accepted Answer

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

Question 2

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

Accepted Answer

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

Question 3

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

Accepted Answer

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

Question 4

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

Accepted Answer

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 5

The tax applicable to interstate supplies will be:

Accepted Answer

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

Question 6

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.

Accepted Answer

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

Question 7

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

Accepted Answer

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

Question 8

Electronic Way Bill is compulsory to move goods of worth

Accepted Answer

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

Question 9

The definition of goods under the GST Act does not include_________

Accepted Answer

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

Question 10

The first 2 digit of GSTIN represent___________________________

Accepted Answer

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

Question 11

A Composite taxpayer is required to file summarised details of transactions

Accepted Answer

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

Question 12

Inter-state trade is presently subject to

Accepted Answer

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

Question 13

GST was introduced in India with effect from

Accepted Answer

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

Question 14

The notified limit for payment of composition levy is ______________

Accepted Answer

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

Question 15

Introduction of GST affects the revenue of

Accepted Answer

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

Question 16

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

Accepted Answer

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

Question 17

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

Accepted Answer

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

Question 18

Goods and service tax is _________

Accepted Answer

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

Question 19

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

Accepted Answer

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

Question 20

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

Accepted Answer

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

Exam 1: Concepts Related to GST in India