P‐18: Indirect Tax Laws and Practice ‐ Bit Questions
(C) CGST and IGST
(D) SGST and IGST
47. Lakshmi became liable to be registered under GST law on 10th November, 2018. She
submitted the application for registration on 18th November, 2018. The registration
certificate is issued on 9th December, 2018. The effective date of registration will be
(A) 10th November, 2018
(B) 18th November, 2018
(C) 9th December, 2018
(D) None of these
48. A manufacturer who is a registered person under GST has purchased 10000 kgs of raw
material during February, 2019, on which IGST of ₹1,00,000 has been paid He has
taken 100 kgs for personal use. 200 kgs were stolen from the factory. Only 80% of the
raw materials were consumed during the m onth for production. The i nput tax credit
available to him for February, 2019 is
(A) ₹99,000
(B) ₹97,000
(C) ₹98,000
(D) ₹1,00,000
49. In the context of Indian Customs law, ICEGATE means
(A) Indian Customs Electronic Data Interchange Gateway
(B) Indian Customs Electronic Gateway
(C) Inter Continental Electronic Gateway
(D) None of the above
50. Transit of goods without payment of customs duty is governed by Section ____________
of the Customs Act, 1962.
(A) 51
(B) 52
(C) 53
(D) 55
51. The following is not a condition precedent for grant of duty drawback for re-export of
duty paid goods:
(A) The goods must be clearly identifiable
(B) The goods should have been actually imported earlier and import duty paid
thereon
(C) The goods are actually re-exported to any place outside India
(D) Entire lot of goods imported earlier should be re-exported and no portion should
remain
52. The term ‘casual taxable person’ includes
(A) A person occasionally supplying goods or services or both in a State or an Union
Territory where he has no fixed place of business
(B) A person occasionally supplying goods or services or both in a State or an Union
Territory where he has fixed place of business
(C) Both (A) and (B)
(D) None of the above
53. Mahesh is employed in Zed Traders a proprietary concern of Kuma r having taxable
turnover under GST. Services provided by Mahesh will be taxable if
(A) Mahesh provides them on contract basis to Zed Traders
(B) Mahesh provides them on regular basis to Zed Traders
(C) Mahesh provides them to the brother of Kumar, not in the course of employment
The Institute of Cost Accountants of India 7
P‐18: Indirect Tax Laws and Practice ‐ Bit Questions
(D) None of the above
54. What would be the tax rate applicable in case of composite supply?
(A) Tax rate as applicable on principal supply
(B) Tax rate as applicable on ancillary supply
(C) Tax rate as applicable on respective supply
(D) Tax rate of the principle supply or ancillary supply whichever is higher
55. What are the supplies on which reverse charge mechanism would apply?
(A) Notified categories of goods or services or both under Section 9(3)
(B) Inward supply of goods or services or both from an unregistered dealer under
9(4)
(C) Both of (A) and (B)
(D) None of the above
56. Which one of the following is exempted from GST?
(A) Any business exhibition
(B) A business exhibition in India
(C) A business exhibition outside India
(D) None of the above
57. What is date of receipt of payment?
(A) Date of entry in the books
(B) Date of payment credited into bank account
(C) Earlier of (A) and (B)
(D) Date of filing of return
58. Time limit to pay the value of supply with taxes to avail the input tax credit is
(A) Three months
(B) Six months
(C) One hundred and eighty days
(D) Till the date of filing annual return or 30th September of following year whichever
is earlier
59. Determine the correct combination:
Sl.No. Event Sl. No. Effect on Customs Duty
1 Foods damaged 1 Remission of duty
2 Goods pilfered 2 Abatement of duty
3 Goods destroyed 3 Not liable to pay duty
(A) 1 and 2, 2 and 3, 3 and 1
(B) 1 and 3, 2 and 3, 3 and 2
(C) 1 and 2, 2 and 1, 3 and 3
(D) 1 and 1, 2 and 3, 3 and 2
60. Two sets of sales wer e effected by Boomerang Ltd First set 1000 units at ` 190 and
second set 900 units at ` 200. In terms of rule 7 (Deductive Value) of the Customs
Valuation (Determination of V alue of Imported Goods) Rules, 2007, the unit p rice in
greatest aggregate quantity determined will be
(A) ` 200
(B) ` 190
(C) ` 195
(D) More data is required
61. As per the Customs Tariff Act, 1975, the following is not considered to be a way that
constitute circumvention of antidumping duty imposed on an article which may
warrant action by the Central Government:
The Institute of Cost Accountants of India 8
