Tag: tax

Questions Related to tax

The number of sections, chapters and Schedules involved in the Model GST Law _______________________.

elements of accounts introduction to gst fundamentals of gst tax journal

  1. 162 Sections, 25 Chapters and 4 Schedules

  2. 126 Sections, 52 Chapters and 3 Schedules

  3. 101 Sections, 21 Chapters and 2 Schedules

  4. 102 Sections, 20 Chapters and 1 Schedule

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Correct Option: A

Whether a taxable person who has paid CGST& SGST or, as the case may be, CGST & UTGST on a transaction considered by him to be an intra-state supply, but which is subsequently held to be an inter-state supply is required to pay interest?

civics introduction to gst fundamentals of gst tax journal

  1. Yes

  2. No

  3. At proper officer's discretion

  4. None of the above

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Correct Option: B

What happens if a taxable person has paid CGST & SGST or, as the case may be, CGST & UTGST (in SGST / UTGST Act) on a transaction considered by him to be an intra-state supply but which is subsequently held to be an inter-state supply?

elements of accounts introduction to gst fundamentals of gst tax journal

  1. Seek refund

  2. Adjust against future liability

  3. Take re-credit

  4. File a suit for recovery

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Correct Option: A

In GST, the registration application approval is to be intimated by the respective SGST/CGST Officials within _____________________.

civics introduction to gst fundamentals of gst tax journal

  1. 10 Common Working days in form GST REG-06

  2. 7 Common Working days in form GST REG-06

  3. 5 Common Working days in form GST REG-06

  4. 3 Common Working days in form GST REG-06

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Correct Option: D

The power to issue order for arrest will be vested upon?

elements of accounts introduction to gst fundamentals of gst tax journal

  1. Commissioner of CGST/SGST

  2. Joint Commissioner of CGST/SGST

  3. Deputy Commissioner/Assistant Commissioner of CGST/SGST

  4. Any of the Above

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Correct Option: A

Who will notify the rate of tax to be levied under CGST?

elements of accounts introduction to gst fundamentals of gst tax journal

  1. Central Government suo moto

  2. State Government suo moto

  3. GST Council suo moto

  4. Central Government as per the recommendations of the GST Council

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Correct Option: D

Whether Alcoholic Liquor for industrial and other usages is taxable under GST?

civics introduction to gst fundamentals of gst tax journal

  1. No

  2. Yes

  3. Exempted

  4. Non-Taxable

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Correct Option: B

What should the taxable person do if he pay's tax under wrong GSTIN?

elements of accounts introduction to gst fundamentals of gst tax journal

  1. Pay again under right GSTIN and claim refund

  2. Auto-adjustment

  3. Adjustment on application/request

  4. Raise ISD invoice and transfer

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Correct Option: A

A registered taxable person other than ISD, non-resident tax payer & a person paying tax under section 10, 51 or 52, shall file its periodical in ____________________________.

elements of accounts introduction to gst fundamentals of gst tax journal

  1. Form GSTR 3 by 18th of the month succeeding the quarter

  2. Form GSTR 4 by 18th of the month succeeding the quarter

  3. Form GSTR 4 by 18th of the succeeding month

  4. Form GSTR 3 by 20th of the succeeding month

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Correct Option: D

In GST, a Taxable Event is reckoned based on ____________________.

civics introduction to gst fundamentals of gst tax journal

  1. Based on Basic tax Point Only

  2. Based on Actual tax Point Only

  3. Basic tax Point or Actual Tax Point whichever is earlier

  4. None of the Above

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Correct Option: C