This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Gst > Gst Council – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Mr.A purchases redeemable vouchers worth Rs.7000 on 1st January. The vouchers are redeemable against purchase of any goods. The vouchers are valid till 30th June. What is the time of supply? A) 1st January. B) 30th June. C) The date of redemption of vouchers. D) None of the above. Show Answer Correct Answer: C) The date of redemption of vouchers. 2. Which of the following is NOT subsumed in GST? A) VAT. B) Stamp duty. C) Entry tax. D) Entertainment Tax. Show Answer Correct Answer: B) Stamp duty. 3. GST was implemented on A) 1st june 2017. B) 1st july 2017. C) 1st april 2016. D) 1st june 2014. Show Answer Correct Answer: B) 1st july 2017. 4. What are all the modes of filing GSTR-3B return from Tally? A) Json. B) Json and excel. C) Excel. D) None of the above. Show Answer Correct Answer: B) Json and excel. 5. When was GST implemented in India A) 2018. B) 2017. C) 2019. D) 2016. Show Answer Correct Answer: B) 2017. 6. Under GST, Insurance is taxed ..... percent. A) 0. B) 12. C) 18. D) 28. Show Answer Correct Answer: C) 18. 7. For the following transaction within Delhi, fill in the blanks to find the amount of bill:MRP = Rs. 25, 000, Discount % = 20%, GST = 18%Amount of Bill = A) Rs. 26, 800. B) Rs. 23, 200. C) Rs. 23, 600. D) Rs. 25, 900. Show Answer Correct Answer: C) Rs. 23, 600. 8. GST is a ..... type of tax A) Direct. B) Indirect. C) Progressive. D) None of above. Show Answer Correct Answer: B) Indirect. 9. Mr. Anuj an architect, agrees to design and construct a building for Ms. Ashi for a sum of Rs. 5 Crores. The construction completed and the amount received by Mr. Anuj. This is supply of ..... A) Goods. B) Services. C) Both goods and services. D) None. Show Answer Correct Answer: B) Services. 10. Maximum GST rate on supply is: A) 15%. B) 22%. C) 28%. D) 38%. Show Answer Correct Answer: C) 28%. 11. Which Form Is to be used for Registration? A) Form GST REG-01. B) Form GST REG. C) Form GSTR-2. D) Form GSTR 1A-B. Show Answer Correct Answer: A) Form GST REG-01. 12. Input Cess can be adjusted against output Cess. A) Yes. B) No. C) God Knows. D) 50-50. Show Answer Correct Answer: B) No. 13. Receipt Voucher is issued on A) Payment Received. B) Goods Returned. C) Advanced Payment Received. D) All. Show Answer Correct Answer: C) Advanced Payment Received. 14. You purchase a new laptop for $ 500 excluding GST. What is the price including GST? A) 505. B) 525. C) 50. D) 550. Show Answer Correct Answer: D) 550. 15. If dealer A in maharashtra is selling his good to dealer B in Kerala, the SP= 1000 & GST rate = 10% .In the following case calculate the GST payable by dealer B to dealer A. A) CGST=100, SGST=100. B) IGST=100. C) SGST=50, CGST=50. D) IGST=50. Show Answer Correct Answer: B) IGST=100. 16. What type of tax is GST? A) Indirect Tax. B) Direct Tax. C) Both. D) None of these. Show Answer Correct Answer: A) Indirect Tax. 17. Mr.Ahaan ( supplier registered in Uttar Pradesh having principal place of business in Noida) asks Mr.Agarwal of Ahmedabad, Gujarat to deliver 50 Air Conditioner to his buyer Mr.Raunak at Jaipur, Rajasthan. What is the place of supply? A) Location of delivery of goods (Jaipur). B) Principal place of business of third person (Noida). C) None of the above. D) None of above. Show Answer Correct Answer: B) Principal place of business of third person (Noida). 18. GST implemented in India A) 2017. B) 2018. C) 2019. D) 2020. Show Answer Correct Answer: A) 2017. 19. Which of the following Input Tax credit (ITC) is not available to the tax payer:- A) ITC on Goods purchased for resale. B) ITC on Goods used for providing taxable services. C) ITC on Goods used in making supplies out of India. D) ITC on purchase of Motor vehicle for use by director. Show Answer Correct Answer: D) ITC on purchase of Motor vehicle for use by director. 20. Mode of calculation of refund in case of inverted duty structure A) Refund Amount = \{[(Turnover of inverted rated supply of goods and services) * Net ITC ]/Adjusted Total Turnover\}-tax payable on such inverted rated supply of goods and services. B) Refund Amount = \{[(Turnover of inverted rated supply of goods and services) * Net ITC ]/Gross Total Turnover\}-tax payable on such inverted rated supply of goods and services. C) Refund Amount = \{[(Turnover of inverted rated supply of goods and services) * Net ITC ]/Adjusted Total Turnover\}-tax payable on such supply of goods and services. D) Refund Amount = \{[(Turnover of inverted rated supply of goods and services) * Net ITC ]/Net Turnover\}-tax payable on such inverted rated supply of goods and services. Show Answer Correct Answer: A) Refund Amount = \{[(Turnover of inverted rated supply of goods and services) * Net ITC ]/Adjusted Total Turnover\}-tax payable on such inverted rated supply of goods and services. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesGst Council Quiz 1Gst Council Quiz 2Gst Council Quiz 3Gst Council Quiz 4Gst Council Quiz 5Gst Council Quiz 6Gst Council Quiz 7Gst Council Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books