MCQs on Goods and Services Tax (GST) -20

1. There was decrease in tax rate from 24% to 20% w.e.f. 1.6.2018. Which of the following rate is applicable when invoice was issued after change in rate of tax in June 2017 but payment received and goods supplied in April 2017 

(a) 20% as it is lower of the two 
(b) 24% as it is higher of the two Time and Value of Supply 
(c) 24% as two of the three factors occurred prior to rate change 
(d) 20% as one of the factors occurred after rate change 


2. Whether credit on capital goods can be taken immediately on receipt of the goods? 

(a) Yes 
(b) No 
(c) After usage of such capital goods 
(d) After capitalizing in books of Accounts 


3. Input tax credit on capital goods and Inputs can be availed in one installment or in multiple installments? 

(a) In thirty six installments 
(b) In twelve installments  
(c) In one installment 
(d) In six installments 



4. What is the time limit for taking input tax credit by a registered taxable person 

(a) No time limit 
(b) 1 year from the date of invoice 
(c) Due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains 
(d) Due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier 



5. A supplier of goods or services pays tax under under section 74,129 and 130 (fraud, willful misstatement etc.). Receiver of goods can avail its credit 

(a) Yes 
(b) No Input Tax Credit  
(c) Yes, after receipt of goods or services 
(d) Yes, after receipt of invoice for goods or services 


6. A credit note is issued by ________ and it is a document accepted for GST purposes: 

(a) Recipient, for reducing the tax/ taxable value; 
(b) Supplier, for reducing the tax/ taxable value; 
(c) Supplier, for increasing the tax/ taxable value; 
(d) Recipient, for increasing the tax/ taxable value. 


7. For an increase in the tax/ taxable value, a debit note for GST purposes: 

(a) Should be issued by the supplier; 
(b) Should be issued by the recipient; 
(c) May be issued by the supplier; 
(d) May be issued by the recipient. 


8. Which of the following is true? 

(a) The Commissioner may extend the time limit for furnishing the details of outward supplies by notification for valid reasons 
(b) The details of outward supplies shall include details of debit notes, credit notes and revised invoices issued in relation to outward supplies 
(c) The details of outward supplies shall be submitted in Form GSTR-1 by all the registered taxable person other than ISD, non-resident tax payer and a person paying tax under section 10, section 51 and section 52 
(d) All the above


9. The details submitted by the supplier in Form GSTR 1 are communicated to the registered taxable person in Returns 

(a) Form GSTR 1A on 17th of the succeeding month 
(b) Form GSTR 2A on 15th of the succeeding month 
(c) Form GSTR 2A after the due date of filing Form GSTR 1 
(d) Form GSTR 1A on 15th of the succeeding month 


10. Which of the following is a correct statement? 

(a) Every registered taxable person other than ISD, non-resident tax payer & a person paying tax under section 10, 51 or 52 shall verify, validate, modify or delete the details communicated in Form GSTR 2A 
(b) The details of outward supplies communicated in Form GSTR 2A cannot be modified or altered 
(c) The registered taxable person should accept the details communicated in Form GSTR 2A by 12th of the succeeding month 
(d) The registered taxable person other than ISD, non-resident tax payer & a person paying tax under section 10, 51 or 52 shall furnish the details of inward supplies of goods or services excluding tax payable on reverse charge basis. 


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