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MCQs

Total Questions : 274 | Page 28 of 28 pages
Question 271. In case supplier has deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?
  1.    Yes, it will be automatically show in recipient monthly returns.
  2.    No, as one of the conditions of section 16(2) is not fulfilled.
  3.    Yes if the receiver can prove later that goods are received subsequently
  4.    None of the above
 Discuss Question
Answer: Option B. -> No, as one of the conditions of section 16(2) is not fulfilled.
Question 272. PAN issued under the Income Tax Act is mandatory for grant of registration
  1.    It is one of the document listed.
  2.    Yes, but non-resident taxable person may be granted registration on the basis of any other document.
  3.    No, for persons who are required to deduct tax at source u/s 51 shall have TAN in lieu of PAN.
  4.    Both (b) and (c)
 Discuss Question
Answer: Option D. -> Both (b) and (c)
Question 273. What is the maximum rate prescribed under CGST?
  1.    12%
  2.    20%
  3.    28%
  4.    18%
 Discuss Question
Answer: Option B. -> 20%
Question 274. What is the threshold limit of turnover in the preceding financial year for opting to pay tax under composition scheme?
  1.    Rs.75 lacs
  2.    Rs.1 crore
  3.    Rs.1.5 crore
  4.    None of the above
 Discuss Question
Answer: Option C. -> Rs.1.5 crore

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