Gst

[amp_mcq option1=”100″ option2=”101″ option3=”102″ option4=”103 E. 104″ correct=”option3″]

Detailed SolutionUnder which Act GST was introduced?

[amp_mcq option1=”Discounts mention on invoice” option2=”Packing Charges mention on invoice” option3=”Any amount paid by customer on behalf of the supplier” option4=”Freight charges mention on invoice” correct=”option1″]

Detailed SolutionWhat deductions are allowed from the transaction value

[amp_mcq option1=”0%” option2=”5%” option3=”12%” option4=”18% E. 28%” correct=”option1″]

Detailed SolutionUnder GST, Insurance is taxed _______ percent.

[amp_mcq option1=”CGST Liability only” option2=”CGST and IGST liability” option3=”CGST, IGST and SGST liability” option4=”None of them” correct=”option3″]

Detailed SolutionBalance in electronic credit ledger under CGST can be used against which liability?

[amp_mcq option1=”Australia” option2=”Netherland” option3=”Argentina” option4=”Ireland E. South Korea” correct=”option1″]

Detailed SolutionWhich of the following country has the second highest tax slab?

[amp_mcq option1=”Yes” option2=”No” option3=”Input tax credit on inward supply of goods only can be claimed” option4=”Input tax credit on inward supply of services only can be claimed” correct=”option2″]

Detailed SolutionCan a registered person under Composition Scheme claim input tax credit?

[amp_mcq option1=”5″ option2=”10″ option3=”12″ option4=”15 E. 20″ correct=”option4″]

Detailed SolutionGST threshold limit of North Eastern States is _______ lakhs

[amp_mcq option1=”while sending the goods; another Invoice has to be issued by the recipient while rejecting the goods;” option2=”while sending the goods but the recipient can take credit only when the goods are accepted by him;” option3=”when the recipient accepts the goods or six months from the date of supply whichever isearlier.” option4=”when the recipient accepts the goods or three months from the date of supply whichever is earlier.” correct=”option3″]

Detailed SolutionIn case of goods sent on sale on approval basis, invoice has to be issued:

[amp_mcq option1=”In thirty six installments” option2=”In twelve installments” option3=”In one installment” option4=”In six installments” correct=”option3″]

Detailed SolutionInput tax credit on capital goods and Inputs can be availed in

[amp_mcq option1=”It is one of the document listed.” option2=”Yes, but non-resident taxable person may be granted registration on the basis of any other document.” option3=”No, for persons who are required to deduct tax at source u/s 51 shall have TAN in lieu of PAN.” option4=”Both (b) and (c)” correct=”option2″]

Detailed SolutionPAN issued under the Income Tax Act is mandatory for grant of registration.