Indirect Tax

 M.com Part 2 All Subject MCQ Link In One Link Click Here👈  1. Indian has chosen _____________ model of dual GST.a) USAb) UKc) Canadian d) JapanANS: C 2. Liability to pay tax by the recipient of supply of goods or services is called __________.a) Forward chargeb) Reverse chargec) Output taxd) Input taxANS: B 3. Tax paid on purchase of goods or services or both is called__________.a) Output taxb) Composite taxc) Input taxd) Reverse taxANS: C 4. Which of the following are not a benefits of GST ?a) Creation of unified national marketb) Boost to ‘Make in India’ initiativec) More Competitive productsd) Increase in overall tax burden on consumerANS: D 5. Works contract is a supply of __________.a) Servicesb) Goodsc) Both goods and servicesd) Neither goods nor supply of services6ANS: A 6. Gifts not exceeding ________ in a year by an employer to employee shall not be treated as supply. a) Rs. 5,000 b) Rs. 10,000 c) Rs. 50,000 d) Rs. 1,00,000ANS: C 7. A DTH company supplies a dish, set-top box, 3 year repairing and subscription of 500 channels for five years services as a package to the customers for Rs. 25,000. This is a ________. a) Mixed supply b) Continous supply c) Composite supply d) Common supplyANS: C 8. One tooth paste and tooth brush and a toilet soap sold in a packet for Rs. 50 is ________. a) Composite supply b) Mixed supply c) Common supply d) Continous supplyANS: B 9. What would be the tax rate applicable in case of composite supply ? a) Tax rate as applicable on principal supply b) Tax rate as applicable on ancillary supply c) Tax rate as applicable on supply attracting the highest rate of tax d) Not taxable at allANS: A 10. What would be the tax rate applicable in case of mixed supply ? a) Tax rate as applicable on supply attracting the lowest rate of tax b) Tax rate as applicable on supply attracting the highest rate of tax c) Tax rate as applicable on principal supply d) Tax rate as applicable on ancillary supplyANS: B 11. A person is liable to be registered under GST law where the aggregate value of supply of services exceeds Rs. ______________, in general category.a) 10 Lakhsb) 20 Lakhs7c) 40 Lakhsd) 75 LakhsANS: B 12. ________________ is the application form for registration on casual taxable person.a) GST-REG-11b) GST–REG-01c) GST-REG-10d) GST-REG-06ANS: B 13. __________________ is the15 -digit GST Identification Number.a) GSTNb) GSTPc) GSTINd) GSTRANS: C 14. In case of special category states the limit of aggregate turnover for GST registration is Rs. _____________ .a) 10 Lakhsb) 20 Lakhsc) 40 Lakhsd) 30 LakhsANS: A 15. Mr. Z shows following supplies in March 20 : Export of services: Rs. 15 lacs; Supply of goods exempted Rs. 5 lacs; Supply of taxable goods: Rs. 10 lacs. The aggregate turnover under GST in case of Mr. Z will be:a) 20 lacsb) 25 lacsc) 30 lacsd) 10 lacsANS: C 16. Ms. Dayaben who has place of business in Ahmedabad engaged in supply of goods shows the following details for the year 2019-2020: Month Taxable PurchasesTaxable Sales Tax-Free SalesDec 17 430,000 500,000 200,000Jan 18 45,000 200,000 100,000Feb 18 70,000 300,000 210,000Mar 18 80,000 100,000 200,000From which month is She is liable to apply for registration under GST.a. Jan 18b. Feb 18c. Mar 18d. Not liable for registration.ANS: D  17. GST registration is _________.a) PAN basedb) passport based 8c) Aadhar basedd) none of the aboveANS: A  18. Within how many days a person should apply for registration ?a) Within 30 days from the date he becomes liable for registrationb) Within 60 days from the date he becomes liable for registrationc) No Time Limitd) Within 90 days from the date he becomes liable for registrationANS: A  19. What is the validity of registration certificate issued to casual taxable person and  non-resident taxable person ?a) 90 days from the effective date of registrationb) Period specified in the application of registrationc) Earliest of (a) or (b) aboved) 180 days from the effective date of registrationANS: C  20. Which of the following persons are not liable for compulsory registration _________.a) E-commerce operatorsb) Agriculturistsc) Input Service Distributorsd) Non Resident Taxable personANS: B  21. When can a voluntarily registration may not be cancelled ? a) If the person does not start business within 6 months from the date of registrationb) Business has been discontinued or transferred for any reasonc) Non-filing of returns for a continuous period of 6 monthsd) If a person files all the return within due date under GSTANS: D  22. The application shall be forwarded to the _________ who shall examine the application and the accompanying documents for GST registration.a) Proper Officerb) GSTNc) GSTPd) GST PortalANS: A  23. Certificate of registration is issued in which form ?a) GST REG-06b) GST REG-02 9c) GST REG-01d) GST REG-10ANS: A  24. What is the validity of the registration certificate ?a) One yearb) No validityc) Valid till it is cancelled.d) Five years.ANS: C  25. Within how many days an application for revocation of cancellation of registration can be made ?a) 7 days from the date of service of the cancellation orderb) 15 days from the date of issue of the cancellation orderc) 45 days from the date of issue of the cancellation order d) 30 days from the date of service of the cancellation order ANS: D M.com Part 2 Other Subject MCQ  FINANCIAL MANAGEMENT https://www.mumbaiuniversityidol.com/2021/04/financial-management-mcom-part-2-mcq-pdf.html 1.   https://www.surajpateleducation.com/2021/05/financial-management-mcq-book-pdf.html 2.   https://www.surajpateleducation.com/2021/04/mcom-part-2-financial-management-mcq-pdf.html ENTREPRENEURSHIP https://www.mumbaiuniversityidol.com/2021/05/mcom-part-2-entrepreneurship.html 1)   https://www.surajpateleducation.com/2021/01/entrepreneurship-mcom-part-2-multiple.html https://www.surajpateleducation.com/2021/01/entrepreneurship-development-importance.html AUDITING https://www.mumbaiuniversityidol.com/2021/05/auditing-mcom-part-2-mcq-pdf-mcom-part.html 1.   https://www.surajpateleducation.com/2020/10/auditing-question-bank-2020.html 2.   https://www.mumbaiuniversityidol.com/2021/05/auditing-mcom-part-2-mcq-pdf-mcom-part.html RESEARCH METHODOLOGY https://www.mumbaiuniversityidol.com/2021/05/research-methodology-mcom-part-2-mcq.html 1.   https://www.surajpateleducation.com/2020/10/suraj-patel-education-research.html 2.   https://www.surajpateleducation.com/2020/10/research-methodology-mcom-part-ii.html

  M.com Part 1 All Subject MCQ Link In One Link Click Here👈 1. HSN Code Stands for _________.a) Home Shopping Networkb) Harmonised System of Nomenclaturec) Harmonised System Numberd) Home State NumberANS: B 2. The main decision making body relating to GST laws is the __________. a) Central Govt.b) Sales Tax Departmentc) GST Councild) CBDTANS: C 3. Services rendered by an agent on behalf of principal are treated as rendered by _________.a) Agentb) Principalc) Neither of themd) Both of themANS: B 4. Supply of goods from one state to another state by movement of goods will be treated as ___________supply.a) Intra-stateb) Inter-statec) Importd) Local supplyANS: B 5. GST is ___________based consumption tax.a) Finalb) Salec) Destinationd) ManufactureANS: C 6. What is the full form of GST ?a) Goods and Supply Taxb) Goods and Services Taxc) General Sales Taxd) Government Sales Tax2ANS: B 7. GST was implemented in India from___________.a) 1st January 2017b) 1st April 2017c) 1st March 2017d) 1st July 2017ANS: D 8. What does “I” in IGST stands stand for ?a) Interb) Intregratedc) Internald) IntraANS: B 9. What does “S” in SGST stands stand for ?a) Stateb) Statusc) Similard) SimpleANS: A 10. IGST is payable when the supply is ___________.a) Interstateb) Intra- UTc) Intra-stated) Within the StateANS: A 11. SGST is applicable when _________.a) Goods are sold within a stateb) Goods are sold from one state to another statec) Goods are Exported outside Indiad) Goods are Supplied to SEZ unitANS: A 12. Goods and service tax is a __________ tax system.a) Single pointb) Multipointc) Regressived) Progressive3ANS: B 13. UTGST is levied on supply of goods and provision of services by ______.a) Centreb) Statec) Union Territoryd) Both (b) and (c)ANS: C 14. GST would not be applicable to :a) Alcohol Liquor for human consumptionb) Transportation of Goodsc) Transportation of Passengerd) Supply of Taxable ServicesANS: A 15. Which of the following is subsumed under Central GST ?a) Service Taxb) Custom Dutyc) Electricity Dutyd) Profession TaxANS: A 16. When a GST dealer in Kerala sells a product to a GST dealer or customer in Tamil Nadu, the tax collected is _________.a) SGSTb) CGSTc) UTGSTd) IGSTANS: D 17. Which of the following taxes levied on intra-State supply ?a) CGSTb) SGST/UTGSTc) Both (a) and (b)d) IGSTANS: C 18. In India. GST Structure is_________ in nature.a) Dualb) Singlec) Tripled) Quadruple4ANS: A  19. Services by an employee to the employer in the course of or in relation to his employment is__________.a) Supply of Goodsb) Not a supplyc) Supply of Servicesd) Supply of Both goods and servicesANS: B 20. Which of the following taxes have not been subsumed in State GST ?a) Entry Taxb) Stamp Dutyc) VATd) Entertainment TaxANS: B 21. Under GST law Compensation cess is applicable on _________.a) Luxury articles and demerit goodsb) Consumer goodsc) Petroleum products and Alcohold) All goods & servicesANS: A 22. Goods which get input tax credit without being liable to collect output tax is called_________.a) Exempt goodsb) Zero rated goodsc) Taxable goodsd) Nil Rated goodsANS: B 23. Under GST law, “Aggregate turnover” of a dealer doesn’t include _________.a) GST and Cessesb) Interstate Suppliesc) Exports Suppliesd) Exempt SuppliesANS: A 24. _________refers to receipt of goods or services or both whether by purchase, acquisition or any other means with or without consideration.a) Outward supplyb) Taxable supplyc) Exempt Supplyd) Inward supplyANS: D 25. Who is the chairman of GST Council ?a) Vice President of Indiab) Union Finance Ministerc) Leader of oppositiond) Chief justice of Supreme Court ANS: B M.com Part 2 Other Subject MCQ  FINANCIAL MANAGEMENT https://www.mumbaiuniversityidol.com/2021/04/financial-management-mcom-part-2-mcq-pdf.html 1.   https://www.surajpateleducation.com/2021/05/financial-management-mcq-book-pdf.html 2.   https://www.surajpateleducation.com/2021/04/mcom-part-2-financial-management-mcq-pdf.html ENTREPRENEURSHIP https://www.mumbaiuniversityidol.com/2021/05/mcom-part-2-entrepreneurship.html 1)   https://www.surajpateleducation.com/2021/01/entrepreneurship-mcom-part-2-multiple.html https://www.surajpateleducation.com/2021/01/entrepreneurship-development-importance.html AUDITING https://www.mumbaiuniversityidol.com/2021/05/auditing-mcom-part-2-mcq-pdf-mcom-part.html 1.   https://www.surajpateleducation.com/2020/10/auditing-question-bank-2020.html 2.   https://www.mumbaiuniversityidol.com/2021/05/auditing-mcom-part-2-mcq-pdf-mcom-part.html RESEARCH METHODOLOGY https://www.mumbaiuniversityidol.com/2021/05/research-methodology-mcom-part-2-mcq.html 1.   https://www.surajpateleducation.com/2020/10/suraj-patel-education-research.html 2.   https://www.surajpateleducation.com/2020/10/research-methodology-mcom-part-ii.html