GST quiz multiple choice question in year 2018

GST quiz multiple choice question in year 2018

1. An invoice must be issued:
A. At the time of removal of goods.
B.On transfer of risks and rewards of the goods to the recipient;
C. On receipt of payment for the supply;
D.Earliest of the above dates.

GST quiz multiple choice question in year 2018

1. An invoice must be issued:
A. At the time of removal of goods.
B.On transfer of risks and rewards of the goods to the recipient;
C. On receipt of payment for the supply;
D.Earliest of the above dates.

2. An acknowledgement must be given on receipt of advance payment in respect of supply of goods or services:
A. Yes, in the form of a proforma invoice;
B.Yes, as a receipt voucher.
C. Yes, the invoice must be raised to that extent;
D. None of the above

 

3. A continuous supply of goods requires one of the following as a must:
A. The goods must be notified by the Commissioner in this behalf;
B. The contract for supply lasts for a minimum period of 3 months;
C. The supply is made by means of a wire, cable, pipeline or other conduit;
D. Supplier invoices the recipient on a regular or periodic basis.

 

4. In case of goods sent on sale on approval basis, invoice has to be issued:
A. while sending the goods; another Invoice has to be issued by the recipient while rejecting the goods;
B. while sending the goods but the recipient can take credit only when the goods are accepted by him;
C. when the recipient accepts the goods or six months from the date of supply whichever is earlier.
D. when the recipient accepts the goods or three months from the date of supply whichever is earlier.

 

5 .  The registered recipient must issue an invoice in the following cases:
A. The supplier fails to issue an invoice;
B. The supplier is unregistered.
C. The goods or services received notified for tax on reverse charge basis;
D. All of the above.

6. continuous supply of goods requires one of the following as a must:
A.The goods must be notified by the Commissioner in this behalf;
B. The contract for supply lasts for a minimum period of 3 months;
C. The supply is made by means of a wire, cable, pipeline or other conduit;
D. Supplier invoices the recipient on a regular or periodic basis.

 

7.

An acknowledgement must be given on receipt of advance payment in respect of supply of goods or services:
A.Yes, in the form of a proforma invoice;
B. Yes, as a receipt voucher.
C. Yes, the invoice must be raised to that extent;
D. None of the above

8.A bill of supply can be issued in case of inter-State and intra-State:
A.Exempted supplies
B.Supplies by composition suppliers;
C.Supplies to unregistered persons;
D.None of the above.

 

9.Tax invoice must be issued by________
A. Every supplier
B.Every taxable person
C.Registered persons not paying tax under composition scheme
D.All the above

 

10. Input Tax credit as credited in Electronic Credit ledger can be utilized for
A. Payment of Interest
B.Payment of penalty
C.Payment of Fine
D.Payment of Taxes

11.If there is Mis-match of supplier’s outward supply and recipient’s claim for Input Tax credit on the same transaction

A.It shall be added as output tax liability in the hands of receiver.

B.It shall be reduced as output tax liability in the hands of receiver.

C.It shall be increased as input tax credit in the hands of receiver.

D.It shall be deceased as input tax credit in the hands of supplier.

12. Matching of Input Tax credit on inward supply by recipient is undertaken with
A. Monthly return filed by the supplier
B.Outward supply filed by the supplier
C.Invoices maintained by the supplier
D. None of the above

13. Provisional Input tax credit can be utilized against
A. Any Tax liability
B.Self Assessed output Tax liability
C.Interest and Penalty
D.Fine

14. A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger on
A.Final basis
B.Provisional basis
C.Partly Provisional and partly final basis
D.None of the above

15.

A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger on
A.Final basis
B.Provisional basis
C.Partly Provisional and partly final basis
D.None of the above

 

16. Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor
A. Yes
B. No
C. Yes vendor should be located in same place
D. None of the above

17.

The time limit beyond which if goods are not returned, the capital goods sent for job work shall be treated as supply
A. One year
B.Three Years
C. Six months
D. Five years

18.

The time limit beyond which if goods are not returned, the input sent for job work shall be treated as supply
A.One year
B. Three years
C. Six months
D. Five years

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