Questions and answers for exam Preparation

MCQs

Total Questions : 274 | Page 8 of 28 pages

Question 71. How a person can apply for registration?

Filing FORM GST REG-01 along with necessary documents with the jurisdictional proper officer.
Filing FORM GST REG-01 electronically in the common portal and uploading the required documents along with the application.
Uploading necessary documents electronically in the common portal and also submitting manually to the jurisdictional proper officer.
None of the above

Discuss Question

Answer: Option B. -> Filing FORM GST REG-01 electronically in the common portal and uploading the required documents along with the application.

Question 72. Under what circumstances physical verification of business premises is mandatory?

Physical verification of business premises is a discretionary power of proper officer.
If additional information for registration asked by the proper officer is not submitted within specified time.
If certificate of registration is obtained on misrepresentation of facts.
If photograph of the business premise is not uploaded in the common portal within specified time.

Discuss Question

Answer: Option A. -> Physical verification of business premises is a discretionary power of proper officer.

Question 73. Business which has centralized registration under existing Acts

Shall obtain a centralized registration under GST Law.
Shall obtain separate registration in each state from where it is making taxable supplies.
Shall obtain registration on temporary basis.
No need to apply for registration under GST.

Discuss Question

Answer: Option B. -> Shall obtain separate registration in each state from where it is making taxable supplies.

Question 74. Can a registered person opt for composition scheme only for one out of his 5 business different units having same Permanent Account Number?

Yes
No
Yes, with prior approval of the Central Government
Yes, subject to prior approval of the GST Council

Discuss Question

Answer: Option B. -> No

Question 75. Can a registered person under Composition Scheme claim input tax credit?

Yes
No
Input tax credit on inward supply of goods only can be claimed
Input tax credit on inward supply of services only can be claimed

Discuss Question

Answer: Option B. -> No

Question 76. When does liability to pay GST arise in case of supply of goods?

On raising of invoice
At the time of supply of goods
On receipt of payment
Earliest of any of above

Discuss Question

Answer: Option D. -> Earliest of any of above

Question 77. What is date of receipt of payment?

Date of entry in the books
Date of payment credited into bank account
Earlier of (a) and (b)
Date of filing of return

Discuss Question

Answer: Option C. -> Earlier of (a) and (b)

Question 78. The value of supply of goods and services shall be the

Transaction value
MRP
Market Value
None of above

Discuss Question

Answer: Option A. -> Transaction value

Question 79. When can the transaction value be rejected for computation of value of supply

When the buyer and seller are not related and price is not the sole consideration
When the buyer and seller are related or price is not the sole consideration
It can never be rejected
When the goods are sold at very low margins

Discuss Question

Answer: Option B. -> When the buyer and seller are related or price is not the sole consideration

Question 80. What deductions are allowed from the transaction value