Name of subject-in-charge(s): Dr.
Hemkant Kulshrestha
Paper (Subject Name): Goods and Services Tax
Paper Code: BBA 301
Dr. Hemkant Kulshrestha
Signature(s) of Subject-in-charge(s):
ANSWER KEY
1. a) 2. d) 3. c) 4. c) 5. b) 6. c) 7. b) 8. b) 9. b) 10. a)
11. c) 12. d) 13. a) 14. a) 15. a) 16. b) 17. c) 18. a) 19. a) 20. c)
21. b) 22. a) 23. c) 24. c) 25. b) 26. d) 27. a) 28. a) 29. b) 30. c)
Terminal Test- December 2023
BBA Semester-V
Paper ID: 017301
Paper Code: BBA 301 Time: 2½ Hours
Paper Title: Goods and Services Tax Max. Marks: 60
(NOTE: INFLUENCING EVALUATOR BY GIVING NAMES, SYMBOLS ETC. IN
ANSWER BOOK WOULD BE TREATED AS UFMS)
PART A
MCQ’S: SELECT THE MOST APPROPRIATE ANSWER (10 X 1)
1. IGST is payable when the supply is
a) Interstate b) Intra-state c) Intra- UT d) All of the above
2. Registration under GST is not compulsory to-
a) Casual taxable person b) Input service distributor
c) Non-resident taxable person d) None of the above
3. What is the applicability of GST.
a) Applicable all over India except Sikkim
b) Applicable all over India except Jammu and Kashmir
c) Applicable all over India
d) Applicable all over India except Nagaland
4. Goods and Service Tax council referred in which section
a) 246A of the constitution b) 239A of the constitution
c) 279A of the constitution d) 269A of the constitution
5. Weightage of vote for centre at GST Council
a) 1/4th of total votes cast b) 1/3rd of total votes cast
c) ½ of total votes cast c) 2/3rd of total votes cast
6. Who is chairperson of GST Council?
a) Finance Secretary b) State Finance Minister
c) Union Finance Minister d) Prime Minister
7. Schedule in which certain activities/transactions which are neither supply of goods nor supply
of services are mentioned:
a) Schedule I b) Schedule III c) Schedule II d) Schedule IV
8. When GST Council was constituted
a) 10.09.2016 b) 15.09.2016 c) 12.09.2016 d) 20.09.2016
9. Taxable levy in case of Trader of Goods under composite scheme
a) 2.5% CGST+ 2.5% SGST b) 0.5% CGST+ 0.5% SGST
c) 1% CGST+ 1% SGST d) 3% CGST+ 3% SGST
10. Whether person opted for composite scheme can collect tax under GST
a) No b) Yes c) Yes, if his turnover is less than 1.5 Cr d) None of the above
11. “Invoice” or “tax invoice” mentioned in which section
a) Section 27 b) Section 29 c) Section 31 d) Section 47
12. Value of supply under section 15(1) is:
a) Wholesale price b) Market value c) Maximum retail price d) Transaction value
13. Value of supply shall not include:
a) GST
b) Interest, late fee or penalty for delayed payment of any consideration for any supply
c) Subsidies directly linked to the price except subsidies provided by the Central and State
Governments
d) Commission
14. When can the transaction value be rejected for computation of value of supply?
a) When the buyer and seller are related and price is not the sole consideration
b) When the buyer and seller are related or price is not the sole consideration
c) It can never be rejected
d) When the goods are sold at very low margins
15. The term ‘casual taxable person’ includes:
a) A person occasionally supplying goods or services or both in a State or a Union territory
where he has no fixed place of business.
b) A person occasionally supplying goods or services or both in a State or a Union territory
where he has fixed place of business.
c) Both (a) and (b)
d) None of the above
16. Mr. X of Delhi is participating in Hitex Furniture Expo in Haryana where he has no fixed
place of business and exhibiting his products. During the expo, the said products will be sold to
the people attending and intending to purchase such products. In such scenario, Mr. X shall
obtain which of the following registration under the CGST Act, 2017:
a) Non–resident taxable person registration
b) Casual taxable person registration
c) Regular taxpayer registration
d) No registration under GST required.
17. ‘P’ Ltd. has its registered office under the Companies Act, 2013 in the State of Maharashtra.
It also has a corporate office in the State of Telangana. What will be the place of business of ‘P’
Ltd. under the CGST Act, 2017?
a) Telangana b) Maharashtra c) Both (a) and (b) d) None of the above
18. P Ltd. has a contract with X Ltd. to provide bookkeeping services to Q Ltd. Q Ltd. is a
subsidiary of P Ltd. The liability to discharge consideration for such bookkeeping service is of P
Ltd. As per the CGST Act, 2017, who will be the recipient of the above service?
a) P Ltd. b) Q Ltd. c) X Ltd. d) Both (a) and (b)
19. Aggregate turnover does not include-
a) Inward supplies on which tax is payable on reverse charge basis
b) Exempt supplies
c) Export of goods or services or both
d) Inter-State supplies of persons having the same PAN number
20. ABC ltd. has provided following information for the month of Sep, 2018:
a) Intra-State outward supply 8,00,000/-
b) Inter-State exempt outward supply 5,00,000/-
c) Turnover of exported goods 10,00,000/-
d) Payment made to GTA 80,000/-
Calculate the aggregate turnover of ABC Ltd.
a) 8,00,000/- b) 23,80,000/- c) 23,00,000/- d) 18,00,000/-
21. The definition of goods under section 2(52) of the CGST Act does not include-
a) Grass b) Money and securities c) Actionable claims d) Growing crops
22. Agent means:
a) A person who carries on the business of supply or receipt of goods or services or both on
behalf of another
b) A person who arranges or facilitates the supply of goods or services or both, but does not
include a person who supplies such goods or services or both on his own account
c) Both (a) or (b)
d) None of the above
23. What are the factors differentiating composite supply & mixed supply?
a)Nature of bundling i.e. artificial or natural b) Existence of principal supply
c) Both of the above d) None of the above
24. Which of the following taxes will be levied on imports?
a) CGST b) SGST c) IGST d) CGST and SGST
25. Mr. Richard, a Manufacturer in Delhi has opted for composition scheme of taxation under
GST. Determine the rate of total GST payable by him under composition scheme:
a) 2.5% CGST & 2.5% UTGST b) 0.5% CGST & 0.5% SGST
c) 1% CGST & 1% UTGST d) 0.25% CGST & 0.5% UTGST
26. Which of the following is not included in aggregate turnover?
a) Exempt supplies of goods or services or both
b) Export of goods or services or both
c) Inter-State supply of goods or services or both
d) Value of inward supplies on which tax is paid under reverse charge
27. On supply of which of the following items, GST shall be levied with effect from such date as
may be notified by the Government on the recommendations of the GST Council
a) Petroleum crude b) Alcoholic liquor for human consumption
c) Both (a) and (b) d) None of the above
28. IGST levy can be levied by
a) Centre b) State c) Union Territory d) Both a and b
29. A person is having multiple branches requires registration in
a) Each branch separately b) Each State where he has place of Business
c) Either A or B d) None of the above
30. GST Registration is
a) Aadhar based b) Passport based c) PAN based d) None of the above
PART B
SHORT QUESTIONS: WRITE SHORT NOTES ON ANY TWO OF THE FOLLOWING (2 X 5)
1. Discuss the following:
(a) Electronic cash ledger
(b) Electronic credit ledger
(c) Electronic tax liability register
2. Differentiate between Direct Taxes and Indirect Taxes
3. Differentiate between G.S.T. and Sales Tax.
4. Who is treated as “related person” and “distinct person” under GST law?
5. Explain Tax Invoice, E-Way Bill and Credit & Debit Notes.
6. Types of returns under GST.
PART C
LONG QUESTIONS: ANSWER ANY FOUR OUT OF THE FOLLOWING QUESTIONS (4 X 10)
1. What is Goods and Service Tax? How does it work, explain with suitable examples?
What are the features of G.S.T?
2. Discuss the provisions of Levy of Central Goods and Service Tax (C.G.S.T) and
Integrated Goods & Service Tax. How is the Electronic Commerce Operator (ECO)
taxable under G.S.T?
3. Define the term “Scope of Supply” provided under Section 7 of the G.S.T. Act. Please
explain the activities specified in Schedule 1 and Schedule II of CGST Act 2017, with
suitable examples.
4. Who are liable for registration under Section 22 of the CGST Act 2017? Will there be a
liability of registration of the transferee in case of transfer of business? What is the
procedure prescribed for registration?
5. For what purpose, can the amount available in an electronic credit ledger be used? What
is the order of utilization of input tax credit available in the electronic credit ledger?
6. What are the activities specified in Schedule I which shall be treated as supply even if
made without consideration?
7. What is the meaning of exempt supply? Give some examples of goods &services which
have been exempted from GST.
