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

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

2 / 15

What is the full form of "IRN" in the context of GST e-invoicing?

A) Invoice Reference Number

B) Integrated Reporting Notification

C) Invoice Reconciliation Number

D) Input Reporting Notification

3 / 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

4 / 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

5 / 15

Which document is required for the movement of goods worth more than Rs. 50,000?

A) Tax Invoice

B) Delivery Challan

C) Bill of Supply

D) E-way Bill

6 / 15

What is the primary purpose of the National Anti-Profiteering Authority (NAA) in GST?

A) To investigate tax evasion cases

B) To ensure businesses pass on the benefits of reduced taxes to consumers

C) To issue Advance Rulings on tax matters

D) To handle appeals against GST assessments

7 / 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

8 / 15

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

A) 5%

B) 12%

C) 18%

D) 28%

9 / 15

What is the GST treatment for the sale of fresh fruits and vegetables in the FMCG sector?

A) Exempt

B) 5%

C) 12%

D) 18%

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

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

12 / 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

13 / 15

What is the threshold limit for mandatory registration under the CGST Act for service providers?

A) Rs. 10 lakhs

B) Rs. 20 lakhs

C) Rs. 40 lakhs

D) Rs. 50 lakhs

14 / 15

Which form is used for reporting the details of Outward supplies liable to reverse charge?

A) GSTR-1

B) GSTR-2

C) GSTR-3B

D) GSTR-4

15 / 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

And that concludes the GST Quiz!
Brace yourself for your results on the next screen.
If you wish to claim your special prize then please fill in the following details:

Your score is

Get in Touch

Office Address

Quick Links