Advanced Level - N J Jain & Associates

Advanced Level

Ready to elevate your GST game? Welcome to the Advanced Level – where the stakes are higher, the questions are trickier, and the thrill of mastering GST intricacies awaits. Are you up for the challenge?

You have 10 minutes to take up the Quiz.

1 / 15

Which form is used for claiming a refund of excess input tax credit?

A) GSTR-2A

B) GSTR-3B

C) RFD-01

D) GSTR-9

2 / 15

What is the maximum penalty for not registering under GST, despite being liable to register?

A) Rs. 5,000

B) Rs. 10,000

C) Rs. 15,000

D) Rs. 20,000

3 / 15

What is the purpose of the GST Composition Scheme?

A) Simplified compliance for small businesses

B) Exemption from GST

C) Reduced tax rates for specific sectors

D) Rebate on input tax credit

4 / 15

Under the Reverse Charge Mechanism (RCM), who is liable to pay the GST?

A) Only the supplier

B) Only the recipient

C) Both the supplier and the recipient

D) Neither the supplier nor the recipient

5 / 15

Who can apply for an Advance Ruling under GST?

A) Only registered taxpayers

B) Only tax authorities

C) Any person, including a non-registered person

D) Only the Appellate Authority

6 / 15

Can an ISD distribute the credit of Integrated Tax (IGST) to a unit located in a different state?

A) Yes, always

B) No, never

C) Yes, but only with the approval of the GST Council

D) Yes, but only if the recipient is a government entity

7 / 15

Can an Advance Ruling be appealed?

A) Yes, only to the High Court

B) Yes, only to the Supreme Court

C) No, the ruling is final

D) Yes, to the Appellate Authority for Advance Ruling

8 / 15

Who is eligible to avail ITC of GST paid on Motor Insurance Premium?

A) Manufacturer of medical equipment

B) Manpower Supplier

C) Vehicle Driving school

D) Trader of chemicals

9 / 15

In what time is it mandatory to make the payment to the supplier if one avails ITC under the CGST Act?

A) 60 days

B) 90 days

C) 180 days

D) 365 days

10 / 15

What is the maximum limit for the Composition Scheme for service providers?

A) Rs. 75 lakhs

B) Rs. 1 crore

C) Rs. 50 lakhs

D) Rs. 2 crores

11 / 15

Under the CGST Act, what is the penalty for failure to issue a tax invoice for the supply of goods?

A) Rs. 5,000 or the tax amount, whichever is higher

B) Rs. 10,000 or the tax amount, whichever is higher

C) Rs. 15,000 or the tax amount, whichever is higher

D) Rs. 20,000 or the tax amount, whichever is higher

12 / 15

In which form should a registered taxpayer furnish the details of ITC?

A) GSTR-1

B) GSTR-2

C) GSTR-3B

D) GSTR-2B

13 / 15

A Who is eligible to avail ITC of beauty treatment services?

A) Chartered Accountancy Firm

B) KPO company

C) Advertisement agency providing well groomed models

D) Real estate company

14 / 15

What is “NRTP” under GST Law?

A) Non-Registered Taxable Person

B) Non-Resident Taxable Person

C) Non-Registered Transaction Person

D) None of the Above

15 / 15

What is the GST rate for the sale of electric vehicles in India?

A) 5%

B) 12%

C) 18%

D) 28%

And that concludes the GST Quiz!
Brace yourself for your results on the next screen.
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