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14. Balance in electronic credit ledger under CGST can be used against which liability?

CGST Liability only

CGST and IGST liability

CGST, IGST and SGST liability

None of them

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15. Which of the following country has the second highest tax slab?

Australia

Netherland

Argentina

Ireland E. South Korea

Detailed

Solution

16. Can a registered person under Composition Scheme claim input tax credit?

Yes

Input tax credit on inward supply of goods only can be claimed

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

17. GST threshold limit of North Eastern States is _______ lakhs

15 E. 20

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18. In case of goods sent on sale on approval basis, invoice has to be issued:

while sending the goods; another Invoice has to be issued by the recipient while rejecting the goods;

while sending the goods but the recipient can take credit only when the goods are accepted by him;

when the recipient accepts the goods or six months from the date of supply whichever isearlier.

Detailed SolutionIn case of goods

sent on sale on approval basis, invoice has to be issued:

19. Input tax credit on capital goods and Inputs can be availed in

In thirty six installments

In twelve installments

In one installment

In six installments

Detailed SolutionInput tax

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credit on capital goods and Inputs can be availed in

20. PAN issued under the Income Tax Act is mandatory for grant of registration.

It is one of the document listed.

Yes, but non-resident taxable person may be granted registration on the basis of any other document.

No, for persons who are required to deduct tax at source u/s 51 shall have TAN in lieu of PAN.

Both (b) and (c)

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

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