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

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

3 / 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

4 / 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

5 / 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

6 / 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

7 / 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

8 / 15

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

A) 5%

B) 12%

C) 18%

D) 28%

9 / 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%

10 / 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

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

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

13 / 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

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

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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