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 limit for the Composition Scheme for service providers?

A) Rs. 75 lakhs

B) Rs. 1 crore

C) Rs. 50 lakhs

D) Rs. 2 crores

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

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

4 / 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

5 / 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

6 / 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

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

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

10 / 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

11 / 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

12 / 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

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

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

15 / 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

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