1.In GST IPT will be allowed only on the basis of Matching Principles. It allows IPT on Manual Basis only in the case of : 

(A) ISD
(B) New Registrants who had crossed taxable limits even before getting GSTIN due to delay from the part of the department
(C) Job Worker
(D) Exporter

2. The dealers liable to make estimated Advance Tax Remittance to obtain GST Registration are:

(A) ISD
(B)Dealers having Business Verticals
(C) Casual Dealers and Non-Resident Taxable Person
(D) E-Commerce Operator and Aggregator of Branded Services


3. If a Registration is cancelled, the Electronic Credit Ledger or Electronic Cash Ledger are debited by :

(A) IPT availed on Stock, Semi-Finished Goods or finished Goods and Capital Goods
(B) OPT payable on Such Goods
(C) IPT availed on Stock, Semi-Finished Goods , finished Goods and Capital Goods or OPT payable on Such Goods whichever is Higher
(D) No Tax Liability on Cancellation of Registration


4. In GST, a Dealer can apply for the Revocation of the Cancellation of Registration within:

(A) Within 90 days from the date of the service of the GSTIN Cancellation Order
(B) Within 60 days from the date of the service of the GSTIN Cancellation Order
(C) Within 30 days from the date of the service of the GSTIN Cancellation Order
(D) Within 15 days from the date of the service of the GSTIN Cancellation Order



5. Every Registered Dealers under the earlier laws will be automatically migrated to GST allowing a Provisional Registration Number and the same will be valid for a period of:

(A) 1 Year
(B) 9 Months
(C) 3 Months 
(D) 6 Months

6. The source Data for migration in to GSTIN in the case of the existing tax payers under VAT and Central Excise will be:

(A) Registration Details available in CENVAT
(B) Registration Details available in VAT
(C) Both (a) and (b) Above
(D) None of the above



 7. In GST, both Central and State Governments should have simultaneous power to levy GST on:

(A) Intra-State Supplies Only
(B) Interstate Supply Only
(C) Import
(D) Both Intra-State and Inter-State Supply



 8. Example for a Supply of Goods in which possession of the goods are transferred. But, the title on the same will be transferred at a future date

(A) Normal Sale of goods
(B) Sales on Approval Basis or Hire Purchases
(C) Rent a Car
(D) None of the Above




9. Example for a Supply of Goods in which possession of the goods is transferred. But, the Title of the Goods is not transferred at all and thereby attains the character of a supply of Service

(A) Normal Sale of goods
(B) Sales on Approval Basis or Hire Purchases
(C) Rent a Car
(D) None of the Above



10. Suppose, a Person has a Permit to operate a business venture. But, he refrain from operating such a business venture as per a contract between the other business man in the same line of business for a consideration. Whether it is a Taxable Supply of Service in GST?

(A) Yes
(B) No
(C) A Contract Void Abinitio
(D) Exempted



 More MCQs on Goods and Services Tax (GST)