1. What will be the amount carried forward as CGST/SGST from the earlier law and shown in the return filed for the period ending as on appointed date? 

(A) No amount will be carried forward from the earlier law
(B) Amount which is admissible under earlier law but may not be admissible under GST
(C) Amount which is admissible under GST but may not be admissible under earlier law
(D) Amount which is admissible under both the GST and earlier law



 2. Input tax credit as per the VAT law will be carried forward as:

(A) CGST
(B) SGST
(C) IGST
(D) CGST or SGST at the option of the supplier



3. If the unavailed Input Tax Credit on Capital Goods under the earlier law which has been subsequently availed under the GST law is found to be inadmissible as per the proceedings of the Department, then what will be the course of action for the Department?

(A) Such amount will be recovered under the GST law
(B) Such amount will be recovered under the earlier law
(C) Such amount cannot be recovered
(D) Such amount may be recovered under the GST law or the earlier law at Department’s option


4. To avail credit of tax on inputs held in stock by a dealer who was exempted from payment of tax as per earlier law, the said inputs should be used or intended to be used for making,

(A) Taxable supplies under GST
(B) Exempt supplies
(C) Either taxable or exempt supplies
(D) Both taxable and exempt supplies



5. For credit to be allowable, invoices should not be issued earlier than;

(A) Three months before the appointed day
(B) Six months before the appointed day
(C) Nine months before the appointed day
(D) Twelve months before the appointed day



6. What will happen to the rest of credit carried forward in respect of a regular dealer switching over to composition stream under GST, after adjusting to the inputs held in stock?;

(A) Carry forward the rest of the credit
(B) Credit kept in abeyance till the taxable opts for normal scheme once again
(C) Credit lapses
(D) Electronic credit ledger will freeze with the credit available

7. Declaration of inputs held in stock by job worker on behalf of manufacturer is to be filed by?

(A) Manufacturer
(B) Job Worker
(C) Both (a) and (b)
(D) None of the above



8. The process carried out on finished goods or testing done shall ?

(A) Amount to Manufacture
(B) Not amount to Manufacture
(C) Result in different product
(D) Change the use of product



9. Where the goods sold paying VAT within 6 months prior to the appointed day are returned back to business place by an unregistered person within 6 months from the appointed day, the registered person can,

(A) Re sale the goods without paying GST
(B) The VAT paid will be lost
(C) Claim for refund of VAT under the existing law
(D) Pay tax on reverse charge basis



10. Which of the following is true in respect of events after the applicability of GST?

(A) Proceedings under earlier law will be disposed of under the earlier law
(B) Any default due to proceedings in the earlier law will be recovered in the earlier law
(C) Proceedings under the earlier law will be disposed of under the new law
(D) Any refund due to the proceedings will be admissible as input tax credit




More MCQs on Goods and Services Tax (GST)