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

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

A) GSTR-1

B) GSTR-2

C) GSTR-3B

D) GSTR-2B

2 / 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

3 / 15

Can ITC be claimed on goods and services used for construction of immovable property for personal use?

A) Yes, fully

B) Yes, but subject to conditions

C) No

D) Only on services

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 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

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

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

8 / 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

9 / 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

10 / 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

11 / 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

12 / 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

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

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

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.
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