This document contains 20 multiple choice questions and answers related to indirect tax laws in India. The questions cover topics like GST liability in case of business transfer, input tax credit eligibility, penalties for non-compliance, e-way bill rules, taxes not subsumed under GST, pre-deposit amounts for appeals. It also includes questions on foreign trade policies like IEC issuance, advance authorization schemes, import validity periods. The document promotes further reading on indirect tax laws from an external website.
This document contains 20 multiple choice questions and answers related to indirect tax laws in India. The questions cover topics like GST liability in case of business transfer, input tax credit eligibility, penalties for non-compliance, e-way bill rules, taxes not subsumed under GST, pre-deposit amounts for appeals. It also includes questions on foreign trade policies like IEC issuance, advance authorization schemes, import validity periods. The document promotes further reading on indirect tax laws from an external website.
This document contains 20 multiple choice questions and answers related to indirect tax laws in India. The questions cover topics like GST liability in case of business transfer, input tax credit eligibility, penalties for non-compliance, e-way bill rules, taxes not subsumed under GST, pre-deposit amounts for appeals. It also includes questions on foreign trade policies like IEC issuance, advance authorization schemes, import validity periods. The document promotes further reading on indirect tax laws from an external website.
This document contains 20 multiple choice questions and answers related to indirect tax laws in India. The questions cover topics like GST liability in case of business transfer, input tax credit eligibility, penalties for non-compliance, e-way bill rules, taxes not subsumed under GST, pre-deposit amounts for appeals. It also includes questions on foreign trade policies like IEC issuance, advance authorization schemes, import validity periods. The document promotes further reading on indirect tax laws from an external website.
Nov/Dec 21: MCQ’s--Question & Answer (Based on student’s memory)
1.Incase the business is transferred, liability of GST demand raised by the GST department for period preceding to the date of transfer of business?
Ans: Jointly and severely
2. Amount of ITC transferred in case of transfer of Business?
Ans: 86,000 CGST & SGST each
3. Tax liabilities for the supplies during the month till the date of transfer of business
Ans: CSGT & SGST each
4.Penality under GST for delay in filing of Final Return by 30 days
Ans: 3,000 under CGST & 3,000 under SGST
5.Consignment value for the purpose of E-way bill for invoice having taxable goods of Rs.40,000 & exempted Rs.8,000
Ans: 47,200
6. Taxes not subsumed under GST
Ans: Professional Tax by local bodies
7. On the grounds of Supression of facts, SCN were issued by the GST department for RS. 1,00,000. Taxable person made the payment within 30 days of issue of SCN. Amount of penalty under GST law?
Ans: 25% of Tax.i.e.25,000
8. An E-Commerce operator failed to deduct TCS amounting to Rs. 9,000. Penality under GST law?
Ans: Section 122(1)---10,000 or 9,000, whichever is higher i.e.10,000
9. After delay of how many days of refund under GST interest will be provided by the department?
Ans: 60 days
10.Date of issue of SCN in the case of other than fraud from the date of filing of Annual Return?
Ans: Section 73----2 years,9 months
11.Demand by GST department of TAX—10,00,000, Interest—2,00,000, Penality—10,00,000,
Person admitted TAX-3,00,000, Interest—20,000.
What is the amount of Pre-Tax deposit which shall be made to make an appeal?
Ans: 3,90,000
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Ans: DGFT
13.Minimum value addition required in case of Advance Authorization?
Ans: 15% in case of other goods and 50% in case of tea
14. Validity of import from the date of Authorization under EPCG scheme shall be?
Ans: 18 months
15.What would be the nature of Supply and rate of tax in case of advance received not determinable?
Ans: Inter state 18%
16.Document which is not mandatory for import?
Ans: Shipping Bill
17. What is the distance of Exclusive Economic Zone from the baseline?
Ans: 200 NM
Comprehension Question:
18. What is the amount of Output tax payable where the recipient takes registration in the state where the service of organisation are taking place
19. What is the eligible ITC to the entity Supplying the training and appraisal service out of
-Hotel accommodation (Ans: ITC not available w.r.to GST paid in another state)
-Food & Beverage (Ans: Blocked ITC)
-Hired consultants for imparting the training (Ans: ITC available)
20. What would be the Output GST payable by the person? (supplier was registered in different states)
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