Gst

[amp_mcq option1=”Shall obtain a centralized registration under GST Law.” option2=”Shall obtain separate registration in each state from where it is making taxable supplies.” option3=”Shall obtain registration on temporary basis.” option4=”No need to apply for registration under GST.” correct=”option1″]

Detailed SolutionBusiness which has centralized registration under existing Acts

[amp_mcq option1=”Manual form” option2=”Electronic form” option3=”Manual and electronic form” option4=”Manual or electronic form” correct=”option4″]

Detailed SolutionAccounts are required to be maintained in

[amp_mcq option1=”279A” option2=”289A” option3=”266A” option4=”255A E. 286A” correct=”option1″]

Detailed SolutionGST council formation based on Article number _______.

[amp_mcq option1=”Every supplier” option2=”Every taxable person” option3=”Registered persons not paying tax under composition scheme” option4=”All the above” correct=”option4″]

Detailed SolutionTax invoice must be issued by________

[amp_mcq option1=”for business and non-business purpose” option2=”for business or non- business purpose” option3=”both of the above” option4=”none of the above” correct=”option1″]

Detailed SolutionFor capital goods, proportionate credit is allowed

[amp_mcq option1=”Date of entry in the books” option2=”Date of payment credited into bank account” option3=”Earlier of (a) and (b)” option4=”Date of filing of return” correct=”option3″]

Detailed SolutionWhat is date of receipt of payment?

[amp_mcq option1=”Yes fully” option2=”No” option3=”Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher” option4=”Yes to the extent of transaction value of such goods” correct=”option3″]

Detailed SolutionIs Input tax to be reversed in case of supply of capital goods

[amp_mcq option1=”Yes” option2=”No” option3=”Yes vendor should be located in same place” option4=”None of the above” correct=”option2″]

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

[amp_mcq option1=”Yes, it will be automatically show in recipient monthly returns.” option2=”No, as one of the conditions of section 16(2) is not fulfilled.” option3=”Yes if the receiver can prove later that goods are received subsequently” option4=”None of the above” correct=”option2″]

Detailed SolutionIn case supplier has deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?

[amp_mcq option1=”GST Council suo moto” option2=”Central Government suo moto” option3=”State Government suo moto” option4=”Central Government as per the recommendations of the GST Council” correct=”option4″]

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