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

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

2 / 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

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

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

5 / 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

6 / 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

7 / 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

8 / 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

9 / 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

10 / 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

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

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

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

14 / 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

15 / 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%

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