This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Gst > Gst Council – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Is the SEZ developer or SEZ unit receiving zero rated supply eligible to claim refund on IGST paid by the registered taxable person on such supply A) Yes. B) No. C) Partially yes. D) None of above. Show Answer Correct Answer: B) No. 2. When India became free from British rule? A) 15 august 1950. B) 26 jan 1947. C) 15 august 1947. D) 26 jan 1930. Show Answer Correct Answer: C) 15 august 1947. 3. Place of supply in case of installation of elevator is ..... A) Where the movement of elevator commences from the suppliers place. B) Where th delivery of elevator is taken. C) Where the installation of elevator is made. D) Where address of recipient is mentioned in the invoice. Show Answer Correct Answer: C) Where the installation of elevator is made. 4. Taxes that are levied on any Intra-State purchase are? A) IGST. B) SGST. C) SGST/CGST. D) UTGST. Show Answer Correct Answer: C) SGST/CGST. 5. What does G stands for in GST? A) General. B) Global. C) Goods. D) Great. Show Answer Correct Answer: C) Goods. 6. As per section 12(2) of CGST Act, 2017, where the supplier is liable to pay tax under forward charge, the time of supply will be A) Date of issue of invoice or the last date on which the supplier is required to issue invoice. B) Date on which supplier receives the payment with respect to the supplies. C) Earlier of A and B. D) Later of A and B. Show Answer Correct Answer: C) Earlier of A and B. 7. A registered person can claim refund of any unutilised input tax credit on zero rated supplies without payment of tax or the credit accumulated on account of inverted tax rate structure A) Before the expiry of tax period. B) Before thr expiry of 3 years from the relevant date. C) At the end of tax period, but before the expiry of 2 years from the relevant date. D) Before thr expiry of 18 months from the relevant date. Show Answer Correct Answer: C) At the end of tax period, but before the expiry of 2 years from the relevant date. 8. Which year onwards Gandhi Jayanthi is celebrated as international non-violence day? A) 2007. B) 2004. C) 2008. D) 2006. Show Answer Correct Answer: A) 2007. 9. The government has recently launched GST regime, effective from july 1, 2017.what is GST A) Gross sales tax. B) Goods and state tax. C) Goods and services tax. D) None of above. Show Answer Correct Answer: C) Goods and services tax. 10. What is time of supply of goods, in case of supplier opting for composition levy under Section 10 of the CGST Act, 2017? A) Date of issue of invoice. B) Date of receipt of consideration by the supplier. C) Latter of (a) & (b). D) Earlier of (a) & (b). Show Answer Correct Answer: D) Earlier of (a) & (b). 11. ..... tax is imposed on Intra-state supply of goods and services collected by State Government. A) GST. B) CGST. C) SGST. D) IGST. Show Answer Correct Answer: C) SGST. 12. Mr. C sold goods worth Rs. 30000 to Mr. Dr on 5.8.2017, which were sent on 6.8.2017, the invoice date being 15.8.2017 and the goods were received by Mr. D on 5.9.2017. Time of supply is ..... A) 5.8.2017. B) 6.8.2017. C) 15.8.2017. D) 5.9.2017. Show Answer Correct Answer: C) 15.8.2017. 13. The central board of Excise and Customs (CBEC) has recently announced that ..... will be observed as GST Day? A) 14th June. B) 1st July. C) 11TH June. D) None of above. Show Answer Correct Answer: B) 1st July. 14. If the supply is identifiable at the point at which voucher is issued, the time of supply shall be A) Date of issue of voucher. B) Date of redemption. C) 3 months from the date of issue. D) Earlier of A and C. Show Answer Correct Answer: A) Date of issue of voucher. 15. IGST credit shall first be utilised towards payment of A) CGST. B) SGST. C) IGST. D) UTGST. Show Answer Correct Answer: C) IGST. 16. Amount that can be claimed as Refund can be calculated as ..... A) (Turnover of zero rated supply of goods and turnover of zero rated supply of services) * Net ITC /Total Turnover. B) (Turnover of supply of goods and turnover of supply of services) * Net ITC /Total Turnover. C) (Turnover of supply of goods and turnover of supply of services) * Net ITC /Adjusted Total Turnover. D) (Turnover of zero rated supply of goods and turnover of zero rated supply of services) * Net ITC /Adjusted Total Turnover. Show Answer Correct Answer: D) (Turnover of zero rated supply of goods and turnover of zero rated supply of services) * Net ITC /Adjusted Total Turnover. 17. Decrease $ 1400 by 10% and then decrease the result by 10% A) $ 1386. B) $ 1400. C) $ 1134. D) $ 1120. Show Answer Correct Answer: C) $ 1134. 18. Luxury Tax and Entry Tax have been subsumed under ..... A) CGST. B) SGST. C) IGST. D) Cess. Show Answer Correct Answer: B) SGST. 19. The incidence of tax on tax is called A) Tax Pyramiding. B) Indirect tax. C) Tax evasion. D) Tax Cascading. Show Answer Correct Answer: D) Tax Cascading. 20. GST got effective in India from:- A) 1st July 2017. B) 1st Aug 2017. C) 1st July 2018. D) 1st July 2019. Show Answer Correct Answer: A) 1st July 2017. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesGst Council Quiz 1Gst Council Quiz 3Gst Council Quiz 4Gst Council Quiz 5Gst Council Quiz 6Gst Council Quiz 7Gst Council Quiz 8Gst Council Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books