Most Expected Questions of GST CS EXECUTIVE (JUNE, 2018 STUDENTS) By CA Vivek Gaba 1. GST was first levied by? a) France in 1954 b) USA in 1985 c) India in 2017 d) U.K in 1970 2. Which of the following statement is correct:- I. GST is a broad-based tax II. GST is a destination based tax III. GST is collected through a staged process i.e. a tax on the value added to goods or services at every point in the supply chain IV. GST is a tax on the consumption of products from business sources, and not on personal or hobby activities a) Only I. b) I & II Both c) I, II & III d) I, II, III & IV all statement is correct 3. Currently, also follow dual GST model? a) Brazil and Canada b) USA and Canada c) France & U.K d) Germany & France 4. India follow GST Model? a) Single b) Dual c) Four. 5. It is a tax regime covering both goods and services, and be collected on value-added at each stage of the supply chain? a) Comprehensive b) Selective
c) Positive 6. Which of the following Central Taxes have been subsumed under GST? i. Central Excise Duty ii. Duties of Excise (Medicinal and Toilet Preparations) iii. Additional Duties of Excise (Textiles and Textile Products) iv. Service Tax v. Income Tax vi. Basic Custom Duty vii. Additional custom duties (commonly known as CVD) viii. Special Custom duties (commonly known as SAD) a) i, ii, iii, iv, vii & viii b) Only vii & viii. c) Only v & vi. 7. Which of the following State Taxes have been subsumed under GST? i. State VAT [Except 5 PP & A. Liquor for HC) ii. Central Sales Tax [Except 5 PP & A. Liquor for HC) iii. Purchase Tax iv. Luxury Tax v. Entry Tax vi. All forms Entertainment Tax (except those levied by the local bodies) a) i, ii, iii, iv, v & vi. b) Only iii, iv & v. c) Only vi 8. Final assent of Hon ble President (122 nd Constitution Amendment Bill) of India was given on? a) 8th September,2016 b) December 19, 2016 c) 8th September,2017 9. Which of the following Bills passed by parliament? i. Central Goods and Services Tax (CGST)Bill ii. Integrated Goods and Services Tax(IGST) Bill iii. Union Territory Goods and Services Tax (UTGST)Bill iv. Goods and Services Tax (Compensation to States) Bill v. State Goods and Services Tax (SGST)Bill a) i, ii, iii & iv
b) Only i, ii & iv c) Only i, ii & iii 10. is the main decision-making body that has been formed to finalize the design of GST? a) GST Council b) Central government c) State government d) Parliament 11. Who will be the chairperson in GST Council? a) Union finance minister b) State finance minister c) Any minister nominated by Government 12. Vice Chairperson of GST Council will be from Member from? a) State Government b) Central government c) Any member nominated by central government d) Any of the above 13. In the GST Council, a decision will be taken by a majority with the Centre having a and the states the remaining? a) three-fourth, one-third vote, two-third b) three-fourth, Two-third vote, One-third c) Two-third, One-third, One third 14. The tax IGST charged by Government. a) Central / Parliament b) State c) Concerned department d) Both a and b e) All a, b and c 15. The maximum rate of IGST in current GST Laws is. a) 5% b) 12% c) 18% d) 28% e) No such limit 16. GST comes under which amendment bill? a) 118
b) 120 c) 122 d) 115 e) 129 17. Under which Act GST was introduced? a) 100 b) 101 c) 102 d) 103 e) 104 18. GST council formation based on Article number. a) 279A b) 289A c) 266A d) 255A e) 286A 19. The headquarters of GST council is. a) Mumbai b) New Delhi c) Ahmadabad d) Hyderabad e) Lucknow 20. GST Registration threshold limit For Jammu & Kashmir States is lakh a) 5 b) 10 c) 12 d) 15 e) 20 21. GST threshold limit of Uttarakhand State is lakh a) 12 b) 15 c) 20 d) 10 e) 30 22. The Central Board of Excise and Customs (CBEC) announced that every year will be considered as GST Day. a) April 1 b) March 1 c) June 1
d) July 1 e) January 1 23. A special purpose vehicle has been launched to cater the needs of GST. a) GSTC b) GSTN c) GSTM d) GSTR e) GSTS 24. What does N stands for in HSN? a) Network b) Nationalization c) Nominee d) Nomenclature e) Nomination 25. What shall constitute quorum of the GST Council meeting? a) One half of the total number of its members b) Two-thirds of the total number of its members c) One Fourth of the total number of its members d) One Third of the total number of its members 26. Which article Introduce GST? a) 270 b) 246A c) 269A (1) d) 279A 27. Which of the following taxes leviable on Imports? a) CGST b) SGST c) IGST d) all of the above 28. What is the threshold limit of turnover for opting composition scheme under GST in Normal States? a) Rs 20 lacs b) Rs 10 lacs c) Not exceeding Rs 100 lacs 29. What is the rate applicable for a composition dealer, being a manufacturer for CGST & SGST? a) Not exceeding 1% b) 5%
c) 0% d) No composition for manufacturer 30. What is the rate applicable for a composition dealer, in case of providing Coaching Service? a)notexceeding1% b)2% c)0% d) not Eligible for composition Scheme 31. Taxable persons are eligible to opt for composition scheme only for one out of 3 business verticals? a)yes b)no c)central/state Government to decide 32. Can the taxable person under Composition Scheme claim input tax credit? a) Yes b) No c) Yes, only in some Cases d) cant say 33. Within how many days a person should apply for registration? a) Within 60 days from the date he becomes liable for registration. b) Within 30 days from the date he becomes liable for registration. c) No Time Limit d) Within 90 days from the date he becomes liable for registration. 34. Which of the following requires amendment in the registration certificate? a) Change of name of the registered person b) Change in constitution of the registered person c) Switching over form composition scheme to normal scheme or vice versa. d) All the above 35. What is the validity period of the registration certificate? a) One year b) Ten years c) Valid till it is cancelled. d) Five years. 36. Which of the following are considered for calculating the aggregate turnover under Composition scheme a) Taxable supplies b) Exempt Supplies c) Both the above
d) Non-taxable supplies 37. Every registered taxable person shall be entitled to take credit of input tax in his return and such input tax credit shall be credited to a) Personal Ledger Account b) Refund account c) Electronic Cash Ledger d) Electronic Credit Ledger 38. The due date for furnishing the annual return for every financial year by registered taxable person a) 30th of September following the end of the financial year b) 20th of October following the end of the financial year c) 31st of December following the end of the financial year d) 31st of May following the end of the financial year 39. The final return shall be filed by the registered taxable person within a) 3 months of the date of cancellation or; b) date of order of cancellation c) 1 month of the date of order of cancellation d) Later of (a) and (b) 40. The annual return shall be filed by the registered taxable person (other than composition suppliers) in Form a) GSTR 7 b) GSTR 9 c) GSTR 9A d) GSTR 10 41. Which of the followings goods are kept out from GST whether Temporarily of permanent? a) alcoholic liquor for human consumption b) petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel c) Electricity d) All of the above 42. On Intra-state Supply which of the following liability will arise? a) CGST + SGST b) CSGT + UTGST c) Any of the above depends upon transaction d) IGST 43. On Inter-state Supply which of the following liability will arise? a) IGST b) CSGT + IGST c) SGST + IGST
d) UTGST + IGST 44. To be eligible for registration under Composition scheme it is required that the aggregate turnover of a registered tax payer should not exceed in the preceding financial year & the limit is for North Eastern & Special Category States) a) Rs. 100,00,000/-, Rs. 75,00,000/- b) Rs. 50,00,000/-, Rs. 25,00,000/- c) Rs. 100,00,000/-, Rs. 50,00,000/- d) Rs. 75,00,000/-, Rs. 20,00,000/- 45. Which of the following states covered North Eastern and Special Category States under GST i. Assam, Arunachal Pradesh, ii. Manipur, Meghalaya, iii. Mizoram, Nagaland, iv. Tripura, Sikkim, v. Delhi, Bihar vi. Jammu & Kashmir vii. Himachal Pradesh a) i, ii, iii, iv & vi b) i, ii, iii, iv, vi & vii c) Only vi d) Only i, ii & iii 46. Which of the following supply will be excluded for the computation of Aggregate turnover? a) exempt supplies b) exports of goods or services or both c) value of inward supplies on which tax is payable by a person on reverse charge basis d) inter-state supplies of persons having the same Permanent Account Number 47. Which of the following taxes excluded at the time of computation of aggregate turnover? a) central tax, b) State tax, c) Union territory tax, d) integrated tax and cess e) all of the above 48. Under GST the taxable event is of goods or services or both? a) SUPPLY b) Manufacturing c) Sale d) Provision of services 49. Supply defined under which of the following section
a) Section 7 of CGST Act, 2017 b) Section 11 of CGST Act, 2017 c) Section 9 of CGST Act, 2017 50. Definition of Supply given under Act is a) Inclusive definition b) Exhaustive definition c) Neither A Nor B d) Both A & B 51. The law provides that in certain cases, even though there is no consideration, the same would be treated as Supply. Such cases are Listed in? a) Schedule I b) Schedule II c) Schedule I & II 52. Which of the following activity deemed as Supply under Schedule I even if no consideration exists a) Sale (permanent transfer) of business assets (goods) on which ITC has been availed b) Supplies of goods and/or services between related person, except gift upto Rs. 50,000 to employees. c) Agent to principal of vice-versa, if agent supplies / receives goods on behalf of principal d) All of the above 53. Which of the following activity deemed to be Supply of Goods i. Transfer of title of goods ii. Permanent Transfer of business assets iii. Transfer of right without transfer of title iv. Treatment of process to another person s goods [job-work, repair, maintenance, etc.] v. Supply of Goods by unincorporated AOP/BOI to its members a) i, ii & iii b) i, ii & v c) Only i & ii d) Only iii & iv 54. Which of the following activity deemed to be Supply of Services i. Transfer of title of goods ii. Permanent Transfer of business assets iii. Transfer of right without transfer of title iv. Treatment of process to another person s goods [job-work, repair, maintenance, etc.] v. Supply of Goods by unincorporated AOP/BOI to its members
a) i, ii & v b) ii & iii c) iii & iv d) Only iii 55. Transfer of title of goods is deemed to be a) Supply of goods b) Supply of Services c) Both A & B depends upon situation d) Neither A & Nor B 56. Gift upto value of Rs 50,000 in a year to an employee & Gifts in value in excess of Rs. 50,000 a) shall not be treated as Supply, shall be taxable as Supply b) shall be taxable as Supply, shall not be treated as Supply c) Both activity not covered under supply 57. Any transfer of right or undivided share in goods Service without transfer of title is a) Supply of Goods b) Supply of Services c) Any of the above at the option of GST council 58. Transfer of title in goods under an agreement where property in goods passes at a future date on payment of full consideration a) Supply of Goods b) Supply of Services c) Any of the above 59. Any lease, tenancy, easement, licence to occupy land a) Supply of Goods b) Supply of Services c) Any of the above / 60. Works Contract as defined under Section 2(119) a) Supply of Goods b) Supply of Services c) Any of the above 61. Which of the followings Activities which are neither supply of goods nor supply of services
a) Services by employee to employer b) Services by any court or tribunal c) Functions performed by the Members of Parliament etc d) All of the above 62. Which of the followings Activities which are neither supply of goods nor supply of servicesa) Services of funeral, burial, crematorium or mortuary including transportation of the deceased. b) Actionable claims, other than lottery, betting and gambling c) Both A & B d) Only A 63. Composite supply is similar to the concept of a) Bundled service b) Mixed Supply c) Joint supply 64. Which of the following persons are not eligible of composition scheme? a) The scheme is not available for services sector, except restaurants. b) Supplier of goods which are not taxable under the CGST Act/SGST Act/UTGST Act is not eligible to register under this scheme c) Tax payers making inter- state supplies is not eligible for composition scheme d) All of the above 65. Determine time of supply of goods under and time of supply of services under of the Act a) section 12, Section 13 b) section 13, Section 12 c) section 7, Section 8 d) none of the above 66. What shall be Time of Supply in case of Supply of goods? a) last date when invoice is required to be issued (sec 31(1)) b) Date of issuance of invoice c) Date of receipt of payment d) earlier of a), b) or c) 67. What shall be Time of Supply in case where advance (Upto Rs.1,000) is received? a) date of issue of invoice b) date of receipt of such advance c) last date when invoice is required to be issued d) earlier of the above
68. Which of following conditions must be satisfied for eligibility to obtain ITC is i. he should be in possession of tax invoice or debit note or such other tax paying documents as may be prescribed ii. he should have received the goods or services or both iii. the supplier should have actually paid the tax charged in respect of the supply to the government iv. he should have furnished the return under section 39 a) Only i & ii b) Only ii & iii c) i, ii, iii & iv d) Only iii & iv 69. Where the goods against an invoice are received in lots or instalments, the registered person shall be entitled to take credit upon a) receipt of the last lot or instalment b) receipt of the First lot or instalment c) 100% at the time of receipt of 1 st invoice 70. if a recipient fails to pay the amount of supply along with tax payable thereon from the date of issue of invoice, the recipient will be liable to pay along with the output tax liability an amount equal to the input tax credit availed by the recipient along with interest thereon a) within 180 days b) within 6 months c) within 90 days d) none of the above 71. Input tax credit is on supply of services of rent-a-cab, life insurance and health insurance a) not available b) 100% Available c) Partially available 72. Input tax credit is on travel benefits extended to employees on vacation such as leave or home travel concession a) not available b) 100% Available c) Partially available
73. The time duration for retention of accounts and records under GST is until expiry of from the due date of furnishing of annual return for the year pertaining to such accounts and records a) Seventy-two months b) seventy months c) seventy-one months d) none of the above 74. A registered person, who is a party to an appeal or revision or any other proceedings shall retain books of accounts for a period - a) One year after final disposal of such appeal or revision or 72 months from due date of annual GST return whichever is Later. b) Two year after final disposal of such appeal or revision c) One year after final disposal of such appeal or revision 75. Which of the following person is not liable for registration? a) Person supplying exempted goods or services or goods or services which are not liable for tax under GST b) An agriculturist, to the extent of supply of produce out of cultivation of land c) Both A & B 76. Registered Composition Supplier file within? a) Quarterly Return, 18 days after the end of each quarter b) Monthly Return, 18 days after the end of each Month c) Quarterly Return, 10 days after the end of each quarter 77. Every Registered non-resident Taxable Person file inwards and outwards supplies on a) Within 20 days after the end of a calendar month b) Within 7 days after the last day of the period of registration (section 27 (1)) c) Earlier between A & B d) Later between A & B 78. Every Input Service distributor (ISD) file details of Tax invoices on a) On or Before 13 of next month b) Within 20 days after the end of a calendar month c) Before 13 of next month 79. Under GST regime, all the taxpayers will get electronic ledgers a) Three b) Four c) Two
d) One 80. Under GST regime, all the taxpayers will get three electronic ledgers namely - a) E-cash Ledger b) E-credit Ledger c) E-liability Ledger d) All of the above 81. Over the Counter Payment can be made in branches of Banks Authorized (for deposits up to per challan per tax period, by cash, cheque or demand draft) to accept deposit of GST a) ten thousand rupees b) One thousand rupees c) Two thousand rupees 82. If a person liable to pay tax, fails to pay such tax or any part thereof shall for the period for which the tax or any part thereof remains unpaid, is liable to pay, on his own, interest a) not exceeding 18% b) not exceeding 24% c) not exceeding 36% d) not exceeding 15% 83. Whereas if a taxable person who makes an undue or excess claim of input tax credit or undue or excess reduction in output tax liability, shall pay interest at such rate a) not exceeding 24% b) not exceeding 36% c) not exceeding 18% d) none of the above 84. Which of the following sequence is correct for utilisation of CGST Credit a) 1 st CGST, 2 nd IGST b) 1 st IGST, 2 nd CSGT c) 1 st CGST, 2 nd SGST d) 1 st SGST, 2 nd CSGT 85. Which of the following sequence is correct for utilisation of SGST Credit a) 1 st SGST, 2 nd IGST b) 1 st IGST, 2 nd SGST c) 1 st CGST, 2 nd SGST d) 1 st SGST, 2 nd CSGT 86. Which of the following sequence is correct for utilisation of IGST Credit a) 1 st CGST, 2 nd IGST, 3 rd SGST b) 1 st IGST, 2 nd CSGT, 3 rd SGST
c) 1 st CGST, 2 nd SGST, 3 rd IGST d) 1 st SGST, 2 nd CSGT, 3 rd IGST 87. Cross utilisation of CGST and SGST is a) not available b) available c) Defined by GST Council 88. Proper office make an order within from the date of receipt of application and the amount so determined shall be credited to the Consumer Welfare Fund a) sixty days b) Thirty days c) Ninety days d) forty days 89. In which of the following case refund will not credit in Consumer Welfare fund a) refund of tax paid on zero-rated supplies of goods or services or both or on inputs or input services used in making such zero-rated supplies b) refund of unutilised input tax credit under sub-section (3) c) refund of tax paid on a supply which is not provided, either wholly or partially, and for which invoice has not been issued, or where a refund voucher has been issued d) all of the above 90. A is done when the taxable person is unable to determine the value of goods or services or both or determine the rate of tax applicable thereto a) Provisional assessment b) Re assessment c) Summary assessment d) Any of the above 91. Which of the following person will undertake of General Audit a) Commissioner or officer authorised by commissioner b) Officer not below the rank of Assistant Commissioner c) Any of the above 92. Which of the following person will direct for Special Audit a) Commissioner or officer authorised by commissioner b) Officer not below the rank of Assistant Commissioner c) Any of the above 93. A prior notice of General Audit not less than working days will be sent to the registered person before the audit is conducted a) 15
b) 30 c) 60 d) 45 94. Where the amount of tax evaded or the amount of input tax credit wrongly availed or utilised or the amount of refund wrongly taken exceeds 500 lakhs then a) imprisonment for a term which may extend to 5 years and with fine b) imprisonment for a term which may extend to 7 years and with fine c) imprisonment for a term which may extend to 5 years and without fine d) imprisonment for a term which may extend to 3 years and with fine 95. Where the amount of tax evaded or the amount of input tax credit wrongly availed or utilised or the amount of refund wrongly taken exceeds 200 lakhs upto 500 lakhs then a) imprisonment for a term which may extend to 5 years and with fine b) imprisonment for a term which may extend to 7 years and with fine c) imprisonment for a term which may extend to 5 years and without fine d) imprisonment for a term which may extend to 3 years and with fine 96. Input tax credit on Compensation cess paid under GST (Compensation to States) Act, 2017 is available for payment of a) IGST only b) IGST and CGST only c) compensation under GST (Compensation to States) Act 97. A report of Special audit signed and certified by the appointed Chartered Accountant or Cost Accountant is required to be submitted within days although this period can be further extended to days a) 90, 90 b) 90, 30 c) 30, 90 d) 60, 60 98. One of the following states does not fall under special category given under Art. 279A of the Constitution a) Himachal Pradesh c) Uttarakhand b) Chhattisgarh d) Jammu & Kashmir 99. Agriculturist Means a) Individual or HUF c) Company b) Partnership d) All the above 100. A person is having multiple business vertical under different state requires registration a) Single c) Each business separately
b) Either A or B 101. GST is a) applicable to the state of J&K b) not applicable to the state of J&K c) going to be applicable to the state of J&K from later date d) both (b) and (c) above 102. The rate of GST as applicable on goods and services are: a) 0% 5% 12% 16% 28% c) 0% 6% 12% 18% 28% b) 0% 5% 12% 18% 28% d) 0% 5% 12% 18% 26% 103. When did the President of India gave assent to the Central GST Law? a) 18 th April 2017 c) 22 nd April 2017 b) 5 th April 2017 d) 13 th April 2017 104. An assessee who has opted for the Composite Scheme, can he collect tax under GST? a) Yes c) No a) May be d) In certain cases 105. What is the threshold limit for composite tax levy in the States of Assam? a) ` 60 lakh c) ` 50 lakh b) ` 75 lakh d) ` 1 crore 106. When does the liability to pay tax on goods arise? a) at the time of supply b) at the time when goods reach supplier c) at the time of preparing invoice 107. GST registration is a) PAN based c) passport based b) Aadhar based d) none of the above 108. When the taxable turnover is above ` 1.5 crore, it is under the control of a) State c) Centre b) Both 50% Centre and 50% State d) exempt from the purview of GST 109. Mr A is a salaried employee in A Ltd. It has availed services of an foreign architect for construction of his house. which of the following statement is correct a) Such supply of service is not in course or furtherance of any business in hands of Mr A. But it will constitute supply in terms of section 7(1)(b). b) Such supply of service is not in course or furtherance of any business in hands of Mr A & it will not constitute supply in terms of section 7(1)(b). c) Any of the above 110. Development, design, programming, customisation, adaptation, upgradation, enhancement, implementation of information technology software
a) Supply of Goods b) Supply of Services c) Any of the above