Gst

42. Accounts are required to be maintained in

Manual form
Electronic form
Manual and electronic form
Manual or electronic form

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44. Tax invoice must be issued by________

Every supplier
Every taxable person
Registered persons not paying tax under composition scheme
All the above

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by________" class="read-more button" href="https://exam.pscnotes.com/mcq/tax-invoice-must-be-issued-by________/#more-51972">Detailed SolutionTax invoice must be issued by________

45. For capital goods, proportionate credit is allowed

for business and non-business purpose
for business or non- business purpose
both of the above
none of the above

Detailed SolutionFor capital goods, proportionate credit is allowed

46. What is date of receipt of payment?

Date of entry in the books
Date of payment credited into bank account
Earlier of (a) and (b)
Date of filing of return

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42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube title="What is date of receipt of payment?" class="read-more button" href="https://exam.pscnotes.com/mcq/what-is-date-of-receipt-of-payment/#more-51863">Detailed SolutionWhat is date of receipt of payment?

47. Is Input tax to be reversed in case of supply of capital goods

Yes fully
No
Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher
Yes to the extent of transaction value of such goods

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64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube class="screen-reader-text">Is Input tax to be reversed in case of supply of capital goods

48. 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

Yes
No
Yes vendor should be located in same place
None of the above

Detailed SolutionIs the

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principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor

49. In case supplier has deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?

Yes, it will be automatically show in recipient monthly returns.
No, as one of the conditions of section 16(2) is not fulfilled.
Yes if the receiver can prove later that goods are received subsequently
None of the above

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href="https://exam.pscnotes.com/mcq/in-case-supplier-has-deposited-the-taxes-but-the-receiver-has-not-received-the-goods-is-receiver-entitled-to-avail-credit/#more-51664">Detailed SolutionIn case supplier has deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?

50. Who will notify the rate of tax to be levied under CGST?

GST Council suo moto
Central Government suo moto
State Government suo moto
Central Government as per the recommendations of the GST Council

Detailed SolutionWho will notify the rate of tax to be levied under CGST?

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