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Advance GST MCQ Question with Answer

Advance GST MCQ with detailed explanation for interview, entrance and competitive exams. Explanation are given for understanding.

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Question No : 1
Sitting fees received by director of XYZ Ltd., is liable for GST in the hands of the………

Director
XYZ Ltd
Both of above
None of the above

Question No : 2
Which of the following shall not be included in value of supply?

GST
Interest
Late fee
Commission

Question No : 3
What deductions are allowed from the transaction value

Discounts offered to customers, subject to conditions
Packing Charges, subject to conditions
Amount paid by customer on behalf of the supplier, subject to conditions
Freight charges incurred by the supplier for CIF terms of supply, subject to conditions

Question No : 4
Mr. Chamcham, registered under GST in Delhi, is a domestic trader as also an exporter of whole-sale goods. His annual turnover and inputtax details are as follows:

+TurnoverTax paid on inputs
Taxable goods90,00,0009,00,000
Exempt goods10,00,0001,00,000
Exported goods15,00,0002,00,000

No GST is payable on exempt and exported goods. Mr. Chamcham seeks your expert help in calculating the amount of ITC which he is eligible to claim under GST law. ITC admissible, in given case, is:

12,00,000
11,00,000
10,00,000
9,00,000

Question No : 5
What are the taxes levied on an intra-State supply?

CGST
SGST
CGST and SGST
IGST

Question No : 6
Under which of the following situations, input tax credit will beavailable under GST law?

Cars purchased by a manufacturing company for official use ofits employees.
Aircraft purchased by a manufacturing company for official useof its CEO.
General insurance taken on a car used by employees of a manufacturing company for official purposes.
Maintenance & repair services availed by a company for a truck used for transporting its finished goods.

Question No : 7
Which of the following services are covered under Reverse Charge Mechanism of CGST Act, 2017?
i. Legal Consultancy
ii.Goods Transport Agency
iii. Labour Supply
iv. Rent-a-Cab

i & iii
i & iv
i,ii,& iii
All the above

Wanna test your skill? Here are some exams we prepared for you. So if you need to test your skill just attempt any exam from bellow.

Exam Name No. Of Q Link
Accounting set 1 30 Start
Accounting set 2 30 Start
Accounting set 3 30 Start
Accounting set 4 30 Start
Accounting set 5 30 Start
Accounting set 6 30 Start
Accounting set 7 30 Start
Accounting set 8 30 Start
Accounting set 9 30 Start
Accounting set 10 30 Start
Accounting set 11 30 Start
Accounting set 12 30 Start