Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Goods and Services Tax (GST) -69

1. The prescribed Time Period for completing Job Work on industrial inputs and thereby to avail IPT on inputs sent for Job Work will be: (Otherwise IPT will be reversed and allowed only on the actual receipt of the goods after Job Work)

(A) 30 Days
(B) 60 Days
(C) 90 Days
(D) 180 Days



2. The prescribed Time Period for completing Job Work on Capital Goods and thereby to avail IPT on inputs sent for Job Work will be: (Otherwise IPT will be reversed and allowed only on the actual receipt of the Capital goods after Job Work)

(A)  90 Days
(B) 180 Days
(C) 1 Year
(D) 2 Years



3. Suppose, Goods are sent for Job Work before the implementation date of GST and the same were not received back within 6 months from that date and not received it back even after the time extension of 2 months allowed on reasonable cause. What will be its effect in GST?

(A) Deemed Supply of the Registered Dealer who sent the goods for Job Work
(B) Deemed Supply of Job Worker
(C) No Taxable Event
(D) Either of the Party Liable to Pay GST



4. Suppose, the above Job Worker return back the goods after Job Work after 6 months or after the extended time period of 2 months, such Supply of Goods will be treated as :

(A) An Exempted Supply
(B) No Taxable Event
(C) Sales Return of the Registered Dealer
(D) Deemed Supply of the Registered Job Worker



5. The IPT on Capital Goods will be allowed in GST in or as :

(A) 3 Monthly Instalments
(B) 12 Monthly Instalments
(C) 36 Monthly Instalments
(D) One Go



6. The Tax Liability of a person receiving the goods instead of the person supplying the goods will be knows as:

(A) Purchase Tax
(B) Reverse Charge 
(C) Reverse Tax
(D) None of the Above



7. The ITC claimed by a Recipient of Supply will be provisionally allowed at first and the same will be confirmed subject to:

(i) Possession of Tax Paying Document not expiring 1 year from the date of issue and Matching of the Invoices
(ii) Receipt of Goods and /or Services (including Bill to and Ship To Scenario)
(iii) Filing of the Valid Return by the Supplier of Goods and/or Services
(iv) Invoice Declared before September,30th of the Next Financial Year or before filing of Annual Return whichever is earlier

Codes:
(A) i, ii & iii 
(B) i, ii & iv
(C) ii, iii & iv
(D) I, ii, iii & iv




8. The Prescribed final date for the filing of Annual Return with Quantitative Supply Data and Both direct and Indirect Expenditure and Income Data

(A) June, 30th of the Next Financial Year
(B) September, 30th of the Next Financial Year
(C) December, 31st of the Next Financial Year
(D) January, 31st of the Next Financial Year



9. ITC is allowed only on those goods and /or Services which are intended for making :

(A) Taxable Supplies
(B) Zero Rated Supplies
(C) Both (A) and (B) above
(D) Even on Taxable Inward Supply and Non-Taxable Local or Interstate Supplies



10. The goods sent by a Registered taxable Person to a Registered Job Worker is:

(A) Supply of Goods
(B) Deemed Supply of Goods
(C) Not a Taxable Supply of Goods
(D) Either (A) or (B) Above



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