Gst

[amp_mcq option1=”Central” option2=”State” option3=”Concerned department” option4=”Both a and b E. All a, b and c” correct=”option4″]

Detailed SolutionThe tax IGST charged by _________Government.

[amp_mcq option1=”118″ option2=”120″ option3=”122″ option4=”115 E. 129″ correct=”option3″]

Detailed SolutionGST comes under which amendment bill?

[amp_mcq option1=”Yes” option2=”After usage of such capital goods” option3=”After capitalizing in books of Accounts” option4=”None of the above” correct=”option1″]

Detailed SolutionWhether credit on capital goods can be taken immediately on receipt of the goods?

[amp_mcq option1=”Physical verification of business premises is a discretionary power of proper officer.” option2=”If additional information for registration asked by the proper officer is not submitted within specified time.” option3=”If certificate of registration is obtained on misrepresentation of facts.” option4=”If photograph of the business premise is not uploaded in the common portal within specified time.” correct=”option2″]

Detailed SolutionUnder what circumstances physical verification of business premises is mandatory?

[amp_mcq option1=”When the buyer and seller are not related and price is not the sole consideration” option2=”When the buyer and seller are related or price is not the sole consideration” option3=”It can never be rejected” option4=”When the goods are sold at very low margins” correct=”option2″]

Detailed SolutionWhen can the transaction value be rejected for computation of value of supply

[amp_mcq option1=”The supplier fails to issue an invoice” option2=”The supplier is unregistered” option3=”The goods or services received notified for tax on reverse charge basis” option4=”All of the above” correct=”option4″]

Detailed SolutionThe registered recipient must issue an invoice in the following cases:

[amp_mcq option1=”Yes” option2=”No” option3=”Yes, with prior approval of the Central Government” option4=”Yes, subject to prior approval of the GST Council” correct=”option2″]

Detailed SolutionCan a registered person opt for composition scheme only for one out of his 5 business different units having same Permanent Account Number?

[amp_mcq option1=”1993″ option2=”1996″ option3=”1999″ option4=”2000 E. 2002″ correct=”option1″]

Detailed SolutionIn India GST was first proposed in _______.

[amp_mcq option1=”Yes” option2=”nan” option3=”nan” option4=”nan” correct=”option1″]

Detailed SolutionCan Banking Company or Financial Institution withdraw the option of availing actual credit or 50% credit anytime in the financial year?

[amp_mcq option1=”12%” option2=”20%” option3=”28%” option4=”18%” correct=”option3″]

Detailed SolutionWhat is the maximum rate prescribed under CGST?