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Test: Tax Invoice, Credit & Debit Notes - CA Intermediate MCQ


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10 Questions MCQ Test Taxation for CA Intermediate - Test: Tax Invoice, Credit & Debit Notes

Test: Tax Invoice, Credit & Debit Notes for CA Intermediate 2024 is part of Taxation for CA Intermediate preparation. The Test: Tax Invoice, Credit & Debit Notes questions and answers have been prepared according to the CA Intermediate exam syllabus.The Test: Tax Invoice, Credit & Debit Notes MCQs are made for CA Intermediate 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Tax Invoice, Credit & Debit Notes below.
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Test: Tax Invoice, Credit & Debit Notes - Question 1

What is the primary purpose of a tax invoice in the GST law?

Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 1
The primary purpose of a tax invoice in the GST law is to provide details of the goods or services supplied, including their description, quantity, value, tax charged, and other prescribed particulars.
Test: Tax Invoice, Credit & Debit Notes - Question 2

Which section of the GST law governs the issuance of tax invoices for taxable goods?

Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 2
The issuance of tax invoices for taxable goods is governed by Section 31 of the GST law.
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Test: Tax Invoice, Credit & Debit Notes - Question 3

When should a Credit Note be issued in GST?

Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 3
A Credit Note should be issued in GST when the value of goods increases due to extra goods being delivered or when there is a revision in the invoice value for any reason.
Test: Tax Invoice, Credit & Debit Notes - Question 4
What is the time limit for issuing a tax invoice for taxable services under GST?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 4
Under GST, a tax invoice for taxable services must be issued within 30 days from the date of supply.
Test: Tax Invoice, Credit & Debit Notes - Question 5
What details are required to be mentioned in a Debit Note or Credit Note issued under GST?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 5
A Debit Note or Credit Note issued under GST should contain various details, including the name, address, and GSTIN of the supplier, among other particulars.
Test: Tax Invoice, Credit & Debit Notes - Question 6
What is the purpose of a delivery challan in GST?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 6
A delivery challan in GST is used to facilitate the transportation of goods, especially in cases where the tax invoice cannot be issued at the time of removal of goods.
Test: Tax Invoice, Credit & Debit Notes - Question 7
How is a tax invoice for the supply of goods prepared in terms of copies?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 7
A tax invoice for the supply of goods is prepared in triplicate, with each copy serving a specific purpose.
Test: Tax Invoice, Credit & Debit Notes - Question 8
In which form should the serial number of invoices issued during a tax period be furnished electronically?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 8
The serial number of invoices issued during a tax period should be furnished electronically through FORM GSTR-1.
Test: Tax Invoice, Credit & Debit Notes - Question 9
When should a revised invoice be issued under GST?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 9
A revised invoice under GST should be issued when there is a change in the value of goods or services due to any reason, such as the return of goods or incorrect valuation.
Test: Tax Invoice, Credit & Debit Notes - Question 10
What is the purpose of a Debit Note in GST?
Detailed Solution for Test: Tax Invoice, Credit & Debit Notes - Question 10
The purpose of a Debit Note in GST is to decrease the seller's liability. It is issued when the amount payable by the buyer to the seller decreases.
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