GST Exam MCQ Part 6

( Multiple Choice Questions)

Q: Whether definition of Inputs under CGST Act 2017

(a) Includes capital goods.
(b) Does not includes capital goods.
(c) Includes specified capital goods only
(d) Includes capital goods if used for the purpose of business

Answer b) Does not includes capital goods. [ Refer Section 2 (59) of CGST Act 2017 ]

Q: Under CGST Act 2017  capital goods” means goods,

A) the value of which is capitalised in the books of account of the person claiming the input tax credit

B)  which are used or intended to be used in the course or furtherance of business;

C)  the value of which is capitalised in the books of account of the person claiming the input tax credit and which are used in the course or furtherance of business;

D) the value of which is capitalised in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business;

Answer D) the value of which is capitalised in the books of account of the person claiming the input tax credit and which are used or intended to be used in the course or furtherance of business; [ Refer Section 2 (19) of CGST Act 2017 ]

Q: Under CGST Act 2017  , “input service” means

A) any service used by a supplier in the course or furtherance of business;

B)  any service used or intended to be used by a supplier in the course of business;

C) any service used or intended to be used by a supplier for furtherance of business;

D) any service used or intended to be used by a supplier in the course or furtherance of business;

Answer D) any service used or intended to be used by a supplier in the course or furtherance of business; [ Refer Section 2 (60) of CGST Act 2017 ]

Q Input Tax Credit on capital goods can be availed

A) Immediately on receipt of the goods

C) 50% on the receipt of the goods and 50% in next financial year after receipt of the Goods

D) only after capital goods are put to use

E) After 5 years of use of capital goods

Answer A) Immediately on receipt of the goods [ Refer Section 16 of CGST Act 2017 ]

Q Input Tax credit under CGST Act 2017 can be availed

A) on Receipt of Goods and Receipt of Invoice/documents

B) on Receipt of Invoice/documents

C) on Receipt of Goods

D)  on Receipt of Goods or Receipt of Invoice/documents whichever is earlier

Answer A) on Receipt of Goods and Receipt of Invoice/documents [ Refer Section 16 of CGST Act 2017 ]

Q To avail Input Tax Credit under CGST Act 2017, supplier has to be paid for Value of supply including taxes in 

A) One Hundred Eighty Days

B) 6 Months

C) 9 Months

D) One Hundred Eighty Five Days

Answer A) One Hundred Eighty Days [ Refer Section 16 of CGST Act 2017 ]

Q : If the part payment is made to the supplier within 180 days , then Input Tax Credit 

A) Can be claimed only when recipient pays full Tax amount

B) Cannot be claimed by recipient  till full payment of value of supply and taxes is paid

C) Can be claimed by recipient proportionately to the extent of value and tax paid

D) Can be claimed fully by recipient

Answer C) Can be claimed by recipient proportionately to the extent of value and tax paid  [ Refer Section 16 of CGST Act 2017 ]

Q Last date to claim Input Tax Credit under CGST Act 2017  is

A) 1 year from the date of issue of invoice

B) 1 year from the date of receipt of invoice

C) Due date of furnishing of the relevant annual return

D) Due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier

Answer  D) Due date of furnishing of the return under section 39 for the month of September following the end of financial year to which such invoice or invoice relating to such debit note pertains or furnishing of the relevant annual return, whichever is earlier  [ Refer Section 16 of CGST Act 2017 ]

Q To claim Input Tax Credit on Capital Goods 

A) Depreciation on the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 should not have been claimed

B)  Depreciation on the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 should have been claimed

C)  Depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 should have been claimed

D) Depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 should not have been claimed

Answer D) Depreciation on the tax component of the cost of capital goods and plant and machinery under the provisions of the Income-tax Act, 1961 should not have been claimed  [ Refer Section 16 of CGST Act 2017 ]

Q where the goods against an invoice are received in lots or instalments, the registered person shall be entitled to take credit upon 

A) receipt of the lot or instalment:

B) receipt of the last lot or instalment:

C) Dispatch of the lot or instalment:

D) Dispatch of the last lot or instalment:

Answer B) receipt of the last lot or instalment:[ Refer Section 16 of CGST Act 2017 ]

Other GST Exam MCQ

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