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

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

2 / 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

3 / 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

4 / 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

5 / 15

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

A) 5%

B) 12%

C) 18%

D) 28%

6 / 15

What is the threshold limit for GST registration for goods in India?

A) Rs. 10 lakhs

B) Rs. 20 lakhs

C) Rs. 40 lakhs

D) Rs. 50 lakhs

7 / 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

8 / 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

9 / 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

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

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

12 / 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

13 / 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

14 / 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

15 / 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

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