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0% found this document useful (0 votes)
29 views10 pagesGST 1
Uploaded by
G. BhavaniCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
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7 PA APPApAD
ANT RA PADAD?D
~ Keshav Memorial Institute of Commerce and Sciences-Hyd
> Faculty of Commerce
= jBCom ivr -Sem -VI Honours. Comp AppIsGener=ls)
: Subject -Theory and Practice of GST
UNIT-01
3 MULTIPLE CHOICE QUESTIONS
3 4. Registration in GST is based
‘Alldentity BYPAN C]Tax DJ None of these
2, India follow GST
‘A|Consumer B[Dual C]Single D] None of these
ig also defined as tax on goods and services which is imposed at every point
5 3
‘of sale or provision
> ‘AyVat Tax B] Service Tax C] Excise Tax DJ None of these
4, Registration in GST is —°— specific
3 AjSfate B] Year C] Time D] None of these
5, The process of preparing and sending an invoice to the buyer by the seller with
including all the details of the procedure or service sold in one document is referred as
Al Tax voice B] Bill of Supply C]CENVAT D}fhvoicing
B
6. GSTIN is a digit GST identification number
A} 10 ,BY75 C]20 Dj None of these.
>
2 T.UTGSTisalso known as
~ .ayCnion Terttory 8] Union Ten GST C] UP Territory GST
2 DJ None
>
Toes re tiniest ere tac rt oc at ofan on
>) AAT Tax \BYService Tax. C] Excise Tax _D] None of these
> 9. pp means —b
‘Aj Display Date B}Demand {2¥@FtC] Both DJ None of these
vouvd 2a aD
POP PFA?
vuveuus
tax (G81) rules, deals with the explanatio
69.0) Rul
AyRule 55 8) Rule $4 0) Ru
iy tax _B] Government Sales YeTGoods and services tax
based tax on consumption of goods and
ind DJ Development
ation C} Divi
any types of taxes will be in Indian GST
DI
of the following tax is not subsumed in GST
to issue tax invoice
8] Every registered petson C]Evéry taxable person 0] Allof these
{A} Input tax col
J intemal tax collection
AB} Intemal tax credit C}Ioput tax eredit
supplier is required to file
C} Annual D} Altof these
19. Every composi
Al Monthly B}Cluarte
20. Electronic liability fegister is debited with CT)
AYA labilties of the registered person B] All payments of the registered person
(C] Both Aand & DJ None of these veuuesy
MULTIPLE CHOICE ANSWERS.
FILL IN THE BLANKS
3S is levied at the rate of
‘supply, one of supply isa principal supply.
tinote is also known as =F ‘
s determined onthe taxable value of the service rendered
Gireverse charge. the receipt shall prepare invoice on the dale of
Z-sated supplies under OST
{of TCS can be made only by electric ~
sed by the sellor wien the vale of goods and services supplied PY
the GST Credit Paid on purchase of goods and sensices
» seahich was intially developed by German econ
n central and local sales
2 of busine:
also known 88
ful for bot
for services must be prepared in ==
2. must be capitalized in the books of
st.
+2. rated supplies un
xpons are
417 Details of inward supply are to be fur
48, Bill of supply is issued when =
4{6.Transportatio of goods without issue of invoice is according NM ON KM EOD
~n-O
>
ang
>
ws
weovevuvvvuuvy
20 sea naw tax imposed on selected goods lke pani masala 0b80°2
products, coal, aerated water ete.
FILL IN THE BLANKS ANSWERS:
1.1%
2.Value added tax
3.E-commerce operator
4.Composite
5 Supplementary Invoice
6 Service tax
Receipt
Zero
9. Cash
40.Credit note
14.Input tax credit
412. Harmonised sales tax
13.Tax voice
14, Duplicate
15, Capital goods
16.Zero
17. GSTRA
418,Composition levy
49,Rule -65
20.GST cess
SHORT QUESTIONS WITH SOLUTIONS: —
41Q)What is GST ?
“Ans. Goods and services tax [GST] is widely established and a complete tax that is
imposed on goods and services utlized in an economy. GST is primarily of tax on final
consumption,
2Q) Credit note?
‘ans. tis issued by the seller when the value of goods or services supplied by him has
been reduced, decreases.
3Q) Debit Note?
‘Ans. A debit note is a commercial document issued by buyer to a seller as a means of
formally requesting accredit note. -
&
a
2
uw
vowvevuvEvUVY
4Q) Electronic Cash ledger
‘Ans. Electronic cash ledger is a cash ledger that contains deposit
GST payments made through cash
s that a taxpayer has
Credit ledger
‘onic credit ledger dish .ce available to the
Ans. The ek plays the input tax eredit be
‘egistered taxpayer
6Q) What is GSTIN?
‘Ans. A business which is registered under the GST law is approved by the Indian,
Government as a supplier of goods and services. The input tax credit is permitted only
to registered businesses. Each business Is assigned afler registration with a siya
digit PAN registration number. This number is known as GST identification number.
7Q) Bill of supply
‘Ans. The document which shows only the detail
‘tax percentage or amount is referred as bill of supply.
ls of transaction (sales)and not the
details of
8Q) Input Credit Mechanism.
‘Ans. Input credit mechanism is available to a person who is covered under the GST Act
+ 2 manufacturer, agent, supplier.e-commerce operator, aggregator, or
This implies tha
to claim input credit for tax paid on
any person registered under GST are eligible
purchases
90) Invoice
‘Ans. The document sent by the seller to the buyer including all the details of the product
or semvice (ie price quantity etc.) sold by the seller to buyer is known as invoice
400) GST Retum a
‘Ans. GST retums Is a record of summary of monthly, quarterly or annual returns which
includes the details of al inward and outward supplies that are filed by a taxable
UNIT-02
MULTIPLE CHOICE QUESTIONS
4, Output tax in relation to a taxable person under the CGST act 2012 includes
A] Tax chargeable on taxable supplies made by him
B] Tax chargeable in taxable supplies made by his agent
C] Tax payable by him under reverse charge.
Df Both A and D 2. What is integrated goods and services tax
{A} Taxon international trade
B} Tax imposed on interstate trade
C] Tax imposed on value additions to exports =
D] Tax imposed on imported goods and services
3 GSTN comes under which act [-¢ “]
A] Banking regulation act 1949
B] RBI act 1934 companies act 2013. DJ Limitation act 1963
4. Which ofthe following taxes wil be levied on imports of goods and services
A)CGST B)SGST_CHGST D] Exempt
5. The highest rate of tax prescribed under IGST [1D )
A}5% B]12% C] 18% _D] 26%
6. Creation of the GST council as per article of the amended constitution [
‘Al 286A B] 255A C]266A Dj 279A
7. Which of the following tax will be abolished by the GST Cay
Al Service tax B] Income tax C] Wealth tax Dj] Corporation tax
8, —— is the physical substance CAI
Al Good B] Product C] Service Dj Tax
9. There are ——- type of place of supply [/\ |
AlTwo 8] Three C]Four D] Five =
10. — is used to record purchase returns [-A\")
_ADebit note B] Credit note C] Both A and B dj None of these
of supplies | A]
14. Place of supply is
Al] Location b] Property Cj State DJ Country
12, is issued during the sale of goods Lc"
‘A] Aquarium invoice B Cancellation invoice GT Sale invoice D}
Purchase invoice wa,
ny
© 13, is used to retord sales retums C8
& A] Debit note _B] Credit note C] Both A and BO] None of these
= 44. The central board of excise and customs [CBEC] announced that every year
€ — considered as GST
AJ April 8] March 1* a7 June 1B] July 1° =
cal 48. Cancellation of services are classified into [7 |
3 _AJTwo B) Three C]Four D] Five
®an5 416. llthe physical goods mentioned under GT ['2]
c = Aj Payment ByTaxes. C] Receipt D] None of these
3 17. These are ——- levels in hierarchy of applying text [> |
ol A] Two B] Three C] Four PYSix
z 48. Introduction of impress tax on goods and services [pl
3 ‘Al Central tax B} State tax C]Aand B_D}GST Bs
3 an
a 49, Union territory good and services taxis alsoknown as [<’|
3 AJIGST B]CGST G}UTGST 0) SGST °
Byuace 20. is the fist state that passed GsTbil LC)
a A) Bihar 8] Gujarat _C}Telangana d] Andhra Pradesh
“1 MULTIPLE CHOICE ANSWERS
* >
> 1. Dl [0] 40[A] 16[B]
2. [81 TIAL ANA] 17[D]
oD 3. {C] 8A] 12{C] 18[D]
eo 4. {C] fA] 43{B] 19[C)
= 5. [BD] 15{A) 44{C} — 20[C} a
i)
sly FILL IN THE BLANKS
- 4 4.There are 6 steps in Hiewanehy of apoli Seven
‘ —Hiesasichy ok ae deb oie
2.GSTR stands for_Gonls &
» ? 3,____ are recorded by using purchase vouchers. Troand & qubanyd