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 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

2 / 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

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

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

5 / 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

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

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

A) Exempt

B) 5%

C) 12%

D) 18%

9 / 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

10 / 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

11 / 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

12 / 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

13 / 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

14 / 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

15 / 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

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