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B Com Exam  >  B Com Test  >  Goods and Services Tax (GST)  >  Test: Tax Invoice, Credit & Debit Notes - B Com MCQ

Tax Invoice, Credit & Debit Notes - Free MCQ Practice Test with solutions,


MCQ Practice Test & Solutions: Test: Tax Invoice, Credit & Debit Notes (10 Questions)

You can prepare effectively for B Com Goods and Services Tax (GST) with this dedicated MCQ Practice Test (available with solutions) on the important topic of "Test: Tax Invoice, Credit & Debit Notes". These 10 questions have been designed by the experts with the latest curriculum of B Com 2026, to help you master the concept.

Test Highlights:

  • - Format: Multiple Choice Questions (MCQ)
  • - Duration: 10 minutes
  • - Number of Questions: 10

Sign up on EduRev for free to attempt this test and track your preparation progress.

Test: Tax Invoice, Credit & Debit Notes - Question 1
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What is the primary purpose of a tax invoice in the GST law?

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

Detailed Solution: 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
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When should a Credit Note be issued in GST?

Detailed Solution: 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
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What is the time limit for issuing a tax invoice for taxable services under GST?

Detailed Solution: 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
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What details are required to be mentioned in a Debit Note or Credit Note issued under GST?

Detailed Solution: 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
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What is the purpose of a delivery challan in GST?

Detailed Solution: 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
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How is a tax invoice for the supply of goods prepared in terms of copies?

Detailed Solution: 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
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In which form should the serial number of invoices issued during a tax period be furnished electronically?

Detailed Solution: 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
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When should a revised invoice be issued under GST?

Detailed Solution: 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
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What is the purpose of a Debit Note in GST?

Detailed Solution: 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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About this B Com Practice Test

This test contains 10 MCQs on Tax Invoice, Credit & Debit Notes with detailed solutions for each question. It is part of the Goods and Services Tax (GST) course on EduRev, designed to align with the current B Com syllabus. Each solution explains not just the correct answer but also gives you an understanding of the topic — not just to attempt the question but also help you prepare for the exam with practice.

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If you found this Tax Invoice, Credit & Debit Notes MCQ Test helpful, you can further enhance your B Com preparation with in-depth courses on EduRev, for all the subjects and topics available in Goods and Services Tax (GST) course. The course offers:
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