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CA Intermediate Exam  >  CA Intermediate Tests  >  Test: Charge of GST - CA Intermediate MCQ

Test: Charge of GST - CA Intermediate MCQ


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10 Questions MCQ Test - Test: Charge of GST

Test: Charge of GST for CA Intermediate 2024 is part of CA Intermediate preparation. The Test: Charge of GST questions and answers have been prepared according to the CA Intermediate exam syllabus.The Test: Charge of GST MCQs are made for CA Intermediate 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Charge of GST below.
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Test: Charge of GST - Question 1
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Under which section of the CGST Act, 2017, is GST levied on the supply of petroleum crude, high-speed diesel, motor spirit (petrol), natural gas, and aviation turbine fuel?

Detailed Solution for Test: Charge of GST - Question 1
GST on the supply of petroleum crude, high-speed diesel, motor spirit (petrol), natural gas, and aviation turbine fuel is levied under Section 9(2) of the CGST Act, 2017. The government can notify the date from which this provision becomes effective.
Test: Charge of GST - Question 2
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What is the threshold limit for opting for the composition levy under Section 10(1) of the CGST Act, 2017, for a registered person in the financial year?

Detailed Solution for Test: Charge of GST - Question 2
Section 10(1) of the CGST Act, 2017, allows a registered person to opt for the composition levy if their aggregate turnover in the financial year does not exceed ?1 crore (?75 lakhs for North-Eastern states). This threshold determines eligibility for the composition scheme.
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Test: Charge of GST - Question 3
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Which of the following goods or services is NOT eligible for the composition scheme under Section 10 of the CGST Act, 2017?

Detailed Solution for Test: Charge of GST - Question 3
Inter-state outward supplies of goods are not eligible for the composition scheme under Section 10 of the CGST Act, 2017. The composition scheme is primarily designed for businesses engaged in intra-state supplies and has certain restrictions on the types of supplies that can be made under this scheme.
Test: Charge of GST - Question 4
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What does the term "aggregate turnover" mean under Section 2(6) of the CGST Act, 2017?
Detailed Solution for Test: Charge of GST - Question 4
The term "aggregate turnover" under Section 2(6) of the CGST Act, 2017, means the total turnover of all taxable supplies (excluding reverse charge supplies), exempt supplies, exports of goods or services, and inter-state supplies made by persons having the same Permanent Account Number (PAN). It is computed on an all-India basis.
Test: Charge of GST - Question 5
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Which of the following statements is true regarding the composition scheme?
Detailed Solution for Test: Charge of GST - Question 5
Option A is true. Composition taxpayers must pay tax at normal rates on all their inward supplies, even though they enjoy a simplified tax and return filing process. They cannot avail input tax credit on their purchases, as mentioned in Section 10(4) of the CGST Act, 2017.
Test: Charge of GST - Question 6
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What is the penalty for a composition taxpayer who fails to display the words "Composition Taxable Person" on their notice and signboard?
Detailed Solution for Test: Charge of GST - Question 6
There is a penalty of ?10,000 for a composition taxpayer who fails to display the words "Composition Taxable Person" on every notice and signboard displayed at a prominent place, as per the rules.
Test: Charge of GST - Question 7
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Under what conditions can a registered person opt for the composition levy scheme?
Detailed Solution for Test: Charge of GST - Question 7
  • Under the CGST Act, 2017, a registered person cannot opt for the composition levy scheme if they are engaged in the supply of services other than restaurant and outdoor catering services.
  • This is stipulated under Section 10(2) of the Act.
  • Additionally, a person is also disqualified if they engage in inter-state outward supplies of goods, make supplies through an electronic commerce operator, or if their aggregate turnover exceeds 1.5 crores.
Test: Charge of GST - Question 8
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Which category of taxpayers is NOT eligible for the composition scheme under Section 10 of the CGST Act, 2017?
Detailed Solution for Test: Charge of GST - Question 8
Businesses engaged in inter-state outward supplies of goods are not eligible for the composition scheme under Section 10 of the CGST Act, 2017. The composition scheme is primarily for intra-state businesses.
Test: Charge of GST - Question 9
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When is it mandatory for a taxpayer to display the words "composition taxable person, not eligible to collect tax on supplies" on their invoices?
Detailed Solution for Test: Charge of GST - Question 9
It is mandatory for a taxpayer to display the words "composition taxable person, not eligible to collect tax on supplies" on their invoices when they opt for the composition scheme, as per the rules. This helps in identifying composition taxpayers who are not allowed to collect tax on supplies.
Test: Charge of GST - Question 10
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What is the maximum GST rate that can be levied on all intra-state supplies of goods or services under the CGST Act, 2017?
Detailed Solution for Test: Charge of GST - Question 10
According to Section 9(1) of the CGST Act, 2017, the maximum GST rate that can be levied on all intra-state supplies of goods or services is 20%, with CGST and SGST each not exceeding 10%. This means that the combined CGST and SGST rate cannot exceed 20%.
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