Level – A1
Taxation (Semester - 3)
Goods and Service Tax – GST
Definition, Composition Levy, Registration, Supply, GSTN, GSP
21. As per Sec.2(52) of CGST Act, ‘Goods’ includes?
(a) Actionable Claim (b) Growing Crops (c) Grass (d) All of the above
22. Any movable property is goods. Intangible assets like Royalty, Mining lease, Carbon credit,
electricity is also considered as goods.
(a) True (b) False
23. As per Sec.2(102) of CGST Act, ‘Service’ means anything other than?
(a) Goods (b) Money (c) Security (d) All of the above
24. Activity relating to use of money or its conversion by cash or any other mode from one form
to another or from one currency to another is treated as ‘service’ under GST.
(a) True (b) False
25. As per Sec.2(17) ‘Business’ includes?
(a) Trade and (b) Profession (c) Vocation (d) All of the above
Commerce
26. Agreement for carrying out work for cash, deferred payment or any other valuable
consideration is known as work contracts.
(a) True (b) False
27. Taxable event under GST is ______ of goods and services.
(a) Manufacturing (b) Supply (c) Selling (d) Buying
28. CGST and SGST/UTGST is levied on inter-sate supply and IGST is levied on intra-state supply.
(a) True (b) False
29. Composite supply means?
(a) Combination of (b) Combination of (c) Combination of (a) Combination of
services or goods services or goods services or goods different kind of goods
provided in the provided. provided in the provided in the course of
course of furtherance course profit earning. furtherance of business.
of business.
30. Goods or service which are naturally bundled and supplied in conjunction with each other in
ordinary course of business are composite supply.
(a) True (b) False
31. A supply of package consisting of canned foods, sweets, dry fruits etc. when supply for a
single price it’s a __________?
(a) Composite Supply (b) Mixed Supply (c) General Supply (d) Special Supply
32. ‘Aggregate turnover’ means the aggregate value of?
(a) All taxable and (b) Zero rates supply (c) Export of goods (d) All of the above
exempted Supplies and services both
33. A shop keeper is selling storage bottles along with the refrigerator. Bottles and the
refrigerator can be easily priced and sold separately. Thus, it is considered as ____?
(a) Composite Supply (b) Mixed Supply (c) General Supply (d) Special Supply
34. When a consumer buys a TV, he also gests warranty and maintenance contract with it. Here
it’s an example of?
(a) Composite Supply (b) Mixed Supply (c) General Supply (d) Special Supply
35. A registered person whose aggregate turnover in the preceding financial year did not
exceeds ______ can opt for composite levy scheme under GST.
(a) Rs.50 Lakhs (b) Rs. 2 Crores (c) Rs.1.50 Crores (d) None of the Above
36. Composition levy has been designed for _____ tax payers.
(a) Competent (b) Small (c) International (d) GST registered
37. A registered person in northern Indian state whose aggregate turnover in the preceding
financial year did not exceeds ______ can opt for composite levy scheme under GST.
(a) Rs.50 Lakhs (b) Rs. 75 Lakhs (c) Rs.1.50 Crores (d) None of the Above
38. Which of the following business is competent to opt for composition levy?
(a) Manufacturer (b) Restaurants (c) Trader (d) All of the above
39. Manufacturer of ice-cream, pan-masala, aerated water and tobacco products are not
eligible for composition levy under GST.
(a) True (b) False
40. Tax rate applicable for restaurants under composition levy is_____?
(a) 6% (3% CGST and (b) 5% (3% CGST and (c) 5% (2.5% CGST (d) 1% (0.5% CGST and
SGST each) 2% SGST) and 2.5% SGST) 0.5% SGST)
41. Tax rate applicable for traders under composition levy is_____?
(a) 6% (3% CGST and (b) 5% (3% CGST and (c) 5% (2.5% CGST (d) 1% (0.5% CGST and
SGST each) 2% SGST) and 2.5% SGST) 0.5% SGST)
42. As per GST if aggregate turnover of any assessee is ________ than he has to get his business
registered under GST Act.
(a) more than 20 (b) 20 Lakhs (c) less than 20 Lakhs (d) more than 25 Lakhs
Lakhs
43. Application for registration for GST must be submitted with in ____ days from the date of
his becoming liable for registration.
(a) 60 (b) 90 (c) 30 (d) 15
44. Unregistered person can also charge / collect the GST.
(a) True (b) False
45. Every supplier of goods or service is liable to be registered in the state from when/where he
_____?
(a) makes taxable (b) Resides (c) has elected (d) None of the above
supply or
goods/services
46. _______ it the provider of shared IT infrastructure to tax payer and government both.
(a) GSP (b) GSTN (c) Web Portal (d) Infosys
47. The full form of GSTN is?
(a) Goods and Service (b) Goods and (c) Goods and Service (d) Group and Seva Talks
Tax Network Service Tax Netting Tax Notation Network
48. ______ helps tax payer to comply with the provisions of GST Law.
(a) GSP (b) ASP (c) ACP (d) DSP
49. The full form of GSP is?
(a) GST Suvidha (b) GST Service (c) GST Seva Provider (d) None of the above
Provider Promiser
50. The full form of ASP is?
(a) Application Server (b) Application (c) Appeal Service (d) Application Security
Provider Service Provider Provider Provider
Table Showing Answers:
21. (d) 22. (a) 23. (d) 24. (a) 25. (d) 26. (a) 27. (b) 28. (b) 29. (a) 30. (a)
31. (b) 32. (d) 33. (b) 34. (a) 35. (c) 36. (b) 37. (b) 38. (d) 39. (a) 40. (c)
41. (d) 42. (a) 43. (c) 44. (b) 45. (a) 46. (b) 47. (a) 48. (a) 49. (a) 50. (b)