This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Gst > Gst Council – Quiz 17 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 17 (19 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the time of supply of vouchers when the supply with respect to the voucher is not identifiable A) Date of issue of voucher. B) Date of redemption of voucher. C) Date of entry into books of account. D) Earlier of A or B or C. Show Answer Correct Answer: B) Date of redemption of voucher. 2. India capital A) New india. B) New Delhi. C) New america. D) New africa. Show Answer Correct Answer: B) New Delhi. 3. Refund Voucher is issued: A) Refund of Tax. B) Sales Return. C) Refund of Advance. D) None of these. Show Answer Correct Answer: C) Refund of Advance. 4. What is GSTR 2? A) Details of Outward Supply. B) Details of Inward Supply. C) Purchase Register. D) Sales Register. Show Answer Correct Answer: B) Details of Inward Supply. 5. Supply of goods in the course of import into the territory of India is A) Intrastate supply. B) Export. C) Inter-State supply. D) Neither Export nor Import. Show Answer Correct Answer: C) Inter-State supply. 6. The interest shall be payable @ ..... for withholding the refund amount A) 5% p.a. B) 6%p.a. C) 7%p.a. D) 9%p.a. Show Answer Correct Answer: B) 6%p.a. 7. The concept of demonetisation was launched for the first time in India in A) 1954. B) 1946. C) 1948. D) 1955. Show Answer Correct Answer: B) 1946. 8. The marked price of a smartphone is Rs. 24, 500. If the rate of GST is 28%, find the selling price of the smartphone. A) Rs. 32, 360. B) Rs. 31, 250. C) Rs. 30, 250. D) Rs. 31, 360. Show Answer Correct Answer: D) Rs. 31, 360. 9. ITC is eligible only when it is A) Credited to the electronic cash ledger. B) Credited to the electronic credit ledger. C) Booked in the books of account. D) All of the above. Show Answer Correct Answer: B) Credited to the electronic credit ledger. 10. Jagadale Pvt. Ltd. is engaged in making Chocolates. The company on Diwali, distributed the same chocolates to its employees. Can the company claim ITC in respect to the inputs used in making such gifts? A) Yes. B) No. C) Maybe. D) Company's discretion. Show Answer Correct Answer: B) No. 11. The Central Board of Excise and Customs (CBEC) announced that every year ..... will be considered as GST Day. A) MARCH 1. B) APRIL 1. C) JUNE 1. D) JULY 1. Show Answer Correct Answer: D) JULY 1. 12. Reverse charge entries are not displaying in 'View Summary" under GSTR-3B, why? A) Reverse charge entries will not display under View summary. B) When both RCM Purchase and Stat adjustment transactions are made in the same period, then in GSTR-3B report stat adjustment transactions count will be considered under participating in returns and Purchase transaction under "No direct implication in returns" bucket due to which purchase transaction will not display in view summary and it is a noted issue. C) No view Summary is prvided under GSTR-3B. D) None of the above. Show Answer Correct Answer: B) When both RCM Purchase and Stat adjustment transactions are made in the same period, then in GSTR-3B report stat adjustment transactions count will be considered under participating in returns and Purchase transaction under "No direct implication in returns" bucket due to which purchase transaction will not display in view summary and it is a noted issue. 13. CGST is based on A) Central. B) State. C) Regional. D) Local. Show Answer Correct Answer: A) Central. 14. Article ..... framed GST council A) 279. B) 279A. C) 278. D) 277. Show Answer Correct Answer: B) 279A. 15. ..... is the first state to ratify GST bill. A) Andhra Pradesh. B) ASSAM. C) ARUNACHAL PRADESH. D) SIKKIM. Show Answer Correct Answer: B) ASSAM. 16. In 2016, total amount of currency withdrawn during demonetisation was A) 56%. B) 45%. C) 86%. D) 25%. Show Answer Correct Answer: C) 86%. 17. Composite tax is applicable for dealer with turnover upto A) Rs. 1 crore. B) Rs. 20 lakh. C) Rs.1.5 cr. D) Rs.10 cr. Show Answer Correct Answer: C) Rs.1.5 cr. 18. Direct tax are borne by the person ..... A) Liable to pay tax. B) By the consumer. C) Individual only. D) Company only. Show Answer Correct Answer: A) Liable to pay tax. 19. Supply of goods to SEZ unit is treated as ..... in the hands of supplier A) Exempt supply-Reveral of credit. B) Deemed taxable supply-No reversal of credit. C) Zero rated supply. D) Non-taxable supply-Outside the scope of GST. Show Answer Correct Answer: C) Zero rated supply. ← PreviousRelated 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