[amp_mcq option1=”Yes” option2=”No” option3=”Input tax credit is eligible if depreciation on tax component is not availed” option4=”None of the above” correct=”option1″]
Gst
82. Input Tax credit as credited in Electronic Credit ledger can be utilized for
[amp_mcq option1=”Payment of Interest” option2=”Payment of penalty” option3=”Payment of Fine” option4=”Payment of Taxes” correct=”option4″]
Detailed SolutionInput Tax credit as credited in Electronic Credit ledger can be utilized for
83. SAC Code Stands for
[amp_mcq option1=”Services Accounting Code” option2=”Software Accounting Code” option3=”System Accounting Code” option4=”Service Application Code” correct=”option1″]
84. Balance in electronic credit ledger under SGST can be used against which liability?
[amp_mcq option1=”SGST Liability only” option2=”SGST and IGST liability” option3=”SGST, IGST and CGST liability” option4=”None of them” correct=”option2″]
Detailed SolutionBalance in electronic credit ledger under SGST can be used against which liability?
85. When an e-commerce operator is required to register under GST?
[amp_mcq option1=”When he is required to collect tax at source u/s 52″ option2=”When his aggregate turnover exceeds the threshold limit” option3=”When he is required to discharge tax on the taxable supply or services made by the supplier through him u/s 9(5)” option4=”It is mandatory to register irrespective of the threshold limit.” correct=”option2″]
Detailed SolutionWhen an e-commerce operator is required to register under GST?
86. Smart Phones will be taxed at _______ under GST.
[amp_mcq option1=”0%” option2=”5%” option3=”12%” option4=”18% E. 28%” correct=”option2″]
Detailed SolutionSmart Phones will be taxed at _______ under GST.
87. Is there any ceiling limit prescribed on the rate under IGST?
[amp_mcq option1=”12%” option2=”18%” option3=”28%” option4=”40%” correct=”option3″]
Detailed SolutionIs there any ceiling limit prescribed on the rate under IGST?
88. What is the rate applicable under CGST to a registered person being a hotelier opting to pay taxes under composition scheme?
[amp_mcq option1=”1%” option2=”0.50%” option3=”2.50%” option4=”None of the above” correct=”option1″]
89. When can a registered person avail credit on inputs?
[amp_mcq option1=”on receipt of goods” option2=”on receipt of documents” option3=”Both” option4=”None of the above” correct=”option1″]
Detailed SolutionWhen can a registered person avail credit on inputs?
90. What is the validity of the registration certificate?
[amp_mcq option1=”Five years” option2=”Ten years” option3=”No validity” option4=”Valid till it is cancelled” correct=”option4″]
Detailed SolutionWhat is the validity of the registration certificate?