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MCQs

Total Questions : 274 | Page 26 of 28 pages
Question 251. Can Banking Company or Financial Institution withdraw the option of availing actual credit or 50% credit anytime in the financial year?
  1.    Yes
  2.    No
 Discuss Question
Answer: Option B. -> No
Question 252. Is Input tax to be reversed in case of supply of capital goods
  1.    Yes fully
  2.    No
  3.    Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher
  4.    Yes to the extent of transaction value of such goods
 Discuss Question
Answer: Option C. -> Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever is higher
Question 253. Is the principal entitled for credit of goods though he has not received the goods and has been sent to job worker directly by vendor
  1.    Yes
  2.    No
  3.    Yes vendor should be located in same place
  4.    None of the above
 Discuss Question
Answer: Option A. -> Yes
Question 254. Banking company or Financial Institution have an option of claiming ITC:
  1.    Actual Credit or 50% credit
  2.    Only 50% Credit
  3.    Only cctual credit
  4.    Actual credit and 50% credit
 Discuss Question
Answer: Option A. -> Actual Credit or 50% credit
Question 255. Provisional credit can be availed by the person filing ______
  1.    Sahaj
  2.    Sugam
  3.    Normal
  4.    Provisional credit can not be taken in GST 2.0
 Discuss Question
Answer: Option B. -> Sugam
Question 256. Person havning only B2C transactions can file ________
  1.    Sahaj
  2.    Sugam
  3.    Normal
  4.    All of these
 Discuss Question
Answer: Option D. -> All of these
Question 257. Due date to upload the outward supplies invoices pertaining to the previous quarter is ______
  1.    5th of next month
  2.    22nd of next month
  3.    20th of next month
  4.    20th of next month
 Discuss Question
Answer: Option B. -> 22nd of next month
Question 258. As per the updates, provisional credit can be availed upto ______
  1.    10% of matched credit
  2.    10% of mismatched credit
  3.    20% of matched credit
  4.    Provisional credit can not be taken in GST 2.0
 Discuss Question
Answer: Option A. -> 10% of matched credit
Question 259. RET 02 is the return number which is used for _______
  1.    Saral
  2.    Sahaj
  3.    Sugam
  4.    Normal
 Discuss Question
Answer: Option B. -> Sahaj
Question 260. IRP stands for ______
  1.    Integrated registration portal
  2.    Integrated reporting portal
  3.    Invoice registration portal
  4.    Invoice reporting portal
 Discuss Question
Answer: Option C. -> Invoice registration portal

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