Expert Level - N J Jain & Associates

Expert Level

Calling all GST maestros! The Expert Level GST Quiz is not for the faint-hearted. Dive deep into the intricate nuances of taxation mastery, where only the savviest emerge victorious. Prove your GST genius and claim the title!

You have 10 minutes to take up the Quiz.

1 / 15

Under GST, what is the treatment of stock transferred between two branches located in different states?

A) Exempted

B) Taxable under IGST

C) Taxable under CGST and SGST

D) Non-GST supply

2 / 15

What is the full form of "CIN" in GST payments?

A) Centralised Invoice Number

B) Challan Identification Number

C) Consumer Identification Notice

D) Centralised Inspection Notice

3 / 15

Can an Advance Ruling issued in one state be applied to another state?

A) Yes

B) No

C) Yes, if the states have a mutual agreement

D) Yes, if the transaction involves inter-state supply

4 / 15

What is the GST rate for of motor vehicles with operator?

A) Exempt

B) 5%

C) 18%

D) 28%

5 / 15

What is the GST rate on restaurant services where attached hotel rooms are given at 7500 or more?

A) 5%

B) 12%

C) 18%

D) 28%

6 / 15

What is the threshold limit for mandatory e-way bill generation for the movement of goods?

A) Rs. 50,000

B) Rs. 75,000

C) Rs. 1,00,000

D) Rs. 1,50,000

7 / 15

Under GST, what is the form used by an Input Service Distributor (ISD) to distribute the input tax credit?

A) GSTR-1

B) GSTR-2

C) GSTR-6

D) GSTR-9

8 / 15

What is the role of the Invoice Registration Portal (IRP) in the e-invoicing system?

A) Issuing invoices to taxpayers

B) Validating and registering e-invoices

C) Maintaining taxpayer records

D) Generating e-way bills

9 / 15

Under GST, what is the treatment of discounts offered before or at the time of supply?

A) Included in the transaction value

B) Excluded from the transaction value

C) Taxed separately

D) Treated as a reverse charge

10 / 15

What is the full form of "GSTN" in the context of GST?

A) Goods and Services Tax Network

B) General Services Tax Notification

C) Goods and State Tax Nexus

D) Government System for Taxation and Notification

11 / 15

What is the minimum turnover limit for businesses required to generate e-invoices under GST?

A) Rs. 5 crores

B) Rs. 7 crores

C) Rs. 10 crores

D) Rs. 50 crores

12 / 15

What is the time limit for the Authority for Advance Ruling (AAR) to issue a ruling?

A) 30 days

B) 60 days

C) 90 days

D) 120 days

13 / 15

In GST, what does "HSN" stand for?

A) Harmonized System of Nomenclature

B) High Sales Number

C) Home State Notification

D) Hybrid Service Nomenclature

14 / 15

When can a taxpayer reverse ITC?

A) When wrong credit is availed in the electronic credit ledger

B) When the recipient fails to pay the supplier within 180 days

C) When there is a genuine mismatch in GSTR-2B and GSTR-3B

D) All of the above

15 / 15

What is the rate of pre-deposit for filing an appeal with the Joint Commissioner Appeals?

A) 10%

B) 20%

C) 30%

D) Nil

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