Inter PN-7 Direct and Indirect Taxation Quiz 5

1. Which of the following is the exclusions from the computation of aggregate turnover?

2. GST stands for Goods and Services Tax, and it is a tax system that covers a wide range of:

3. A supply that consists of two or even more services would be classified as the provision that describes the variables that are subject to a higher rate of taxation, is called:

4. For a registered person threshold limits of turnover in the preceding financial year for opting composition scheme shall not exceeds:

5. If tobacco leaves procured from Agriculturist by a registered person, the applicability of RCM will be:

6. Which of the following is not considered as 'goods' under the CGST Act, 2017 (i)Ten-paisa coin having sale value of Rs 100 , (ii) Shares of unlisted Company, (iii) Lottery Tickets

7. Various taxes have been subsumed in GST to make one nation one market for consumers . Out of following , determine which taxes have been subsumed in GST (i) basic customs duty levied under Customs Act, 1962, (ii) Taxes on lotteries ,(iii) Taxes on advertisements

8. Dealers who are not eligible for Compounding Scheme:

9. Certificate of registration is issued in which form?

10. The calculation of the aggregate turnover to decide the Taxable Minimum Turnover will be based on:

11. Aggregate turnover Limit for Opting Compounding Scheme is:

12. Payment of tax is required        filing return.

13. Annual return is summary of:

14. Tax invoice shall be prepared in                in case of supply of goods and in            in case of supply of services

15. Person who is liable to be registered u/s 22 or 24 shall apply for registration in every such State or Union Territory in which he is so liable within:

16. If the goods are received in installment then ITC can be availed

17. In case goods disposed off by way of free sample

18. The transaction value for computation of value of supply can be rejected if -

19. The time of supply of goods, where supplier is liable to pay tax under forward charge shall be:

20. For which of the following goods, the manufacturer is not allowed to opt for composition scheme:

21. Renting of precincts of a religious place meant for general public owned or managed by a charitable or religious trust u/s 12AA of the Income Tax Act 1961 shall be exempt if:

22. Which of the following can be issued by Government to exempt goods and/or services on which tax is leviable in exceptional cases?

23. Reverse charge means the liability to pay tax by the …… of supply of goods or services or both.

24. In case of import of goods, which type(s) of GST is applicable?

25. Which of the following is / are the essential elements of a mixed supply?