Tag: tax

Questions Related to tax

Input tax credit on capital goods and Inputs can be availed in _____________.

civics introduction to gst fundamentals of gst tax journal

  1. In thirty six installments

  2. In twelve installments

  3. In one installment

  4. In six installments

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Correct Option: C

In India GST was first proposed in _____________.

civics introduction to gst fundamentals of gst tax journal

  1. 1993

  2. 1996

  3. 1999

  4. 2000

  5. 2002

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Correct Option: D

Who is the chairman of GST council?

civics introduction to gst fundamentals of gst tax journal

  1. President of India

  2. Prime Minister

  3. Finance Minister

  4. RBI Governor

  5. Finance secretary

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Correct Option: C

A registered taxable person is eligible to claim refund in respect of export of goods and services in the following cases _________________.

civics introduction to gst fundamentals of gst tax journal

  1. Under bond, without payment of IGST and claim refund of unutilized input tax credit.

  2. On payment of IGST and claim refund of IGST paid on such goods and services.

  3. None of the above

  4. Both (a) and (b)

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Correct Option: D

In GST, the eligible Refund amount otherwise ineligible due to some prescribed reasons are credited _______________.

civics introduction to gst fundamentals of gst tax journal

  1. To the declared bank account of the dealer automatically

  2. To the Cash Deposit Ledger of the dealer

  3. To the ITC Credit Ledger Account

  4. To the Consumer Welfare Fund

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Correct Option: D

When an e-commerce operator is required to register under GST?

civics introduction to gst fundamentals of gst tax journal

  1. When he is required to collect tax at source u/s 52

  2. When his aggregate turnover exceeds the threshold limit

  3. When he is required to discharge tax on the taxable supply or services made by the supplier through him u/s 9(5)

  4. It is mandatory to register irrespective of the threshold limit.

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Correct Option: D