GST MCQ - English

Set 2 MCQ Questions and Answers

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GST Multiple Choice Questions and Answers [with Pdf]: Here learn GST Questions and Answers and you can also download pdf of 50 questions and test online gst.

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Page: 1/7

1) Can Mr. A avail credit on Input services or capital goods held in stock, in case of new registration/voluntary Registration

    Yes
    No
    Yes on Input services only
    Yes on capital goods only

Answer : B Discuss

2) Is Input tax to be reversed in case of supply of capital goods

    Yes fully
    No
    Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher
    Yes to the extent of transaction value of such goods

Answer : C Discuss

3) The time limit beyond which if goods are not returned, the input sent for job work shall be treated as supply

    One year
    Three years
    Six months
    Five years

Answer : A Discuss

4) The time limit beyond which if goods are not returned, the capital goods sent for job work shall be treated as supply

    One year
    Three Years
    Six months
    Five years

Answer : B Discuss

5) Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor

    Yes
    No
    Yes vendor should be located in same place
    None of the above

Answer : A Discuss

6) A person is entitled to take credit of input tax as self-assessed in the return and credited to Electronic credit ledger on

    Final basis
    Provisional basis
    Partly Provisional and partly final basis
    None of the above

Answer : B Discuss

7) Provisional Input tax credit can be utilized against

    Any Tax liability
    Self Assessed output Tax liability
    Interest and Penalty
    Fine

Answer : B Discuss

8) Matching of Input Tax credit on inward supply by recipient is undertaken with

    Monthly return filed by the supplier
    Outward supply filed by the supplier
    Invoices maintained by the supplier
    None of the above

Answer : B Discuss

9) If there is Mis-match of supplier’s outward supply and recipient’s claim for Input Tax credit on the same transaction

    It shall be added as output tax liability in the hands of receiver.
    It shall be reduced as output tax liability in the hands of receiver.
    It shall be increased as input tax credit in the hands of receiver.
    It shall be deceased as input tax credit in the hands of supplier

Answer : A Discuss

10) Input Tax credit as credited in Electronic Credit ledger can be utilized for

    Payment of Interest
    Payment of penalty
    Payment of Fine
    Payment of Taxes

Answer : D Discuss

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