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 reporting the details of Outward supplies liable to reverse charge?

A) GSTR-1

B) GSTR-2

C) GSTR-3B

D) GSTR-4

2 / 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

3 / 15

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

A) 5%

B) 12%

C) 18%

D) 28%

4 / 15

In GST, what does "LUT" stand for?

A) Letter of Underutilised Tax

B) Letter of Undertaking

C) Letter of Uninterrupted Trade

D) Legal Understanding for Taxation

5 / 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

6 / 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

7 / 15

Can ITC be claimed on the purchase of goods and services used for providing a works contract?

A) Yes, fully

B) Yes, but subject to conditions

C) No

D) Only on goods

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

A) GSTR-1

B) GSTR-2

C) GSTR-3B

D) GSTR-2B

10 / 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

11 / 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

12 / 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

13 / 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

14 / 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%

15 / 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

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