IDT MCQ 1🧾
A manufacturer in Chhatrapati Sambhajinagar sends goods to a buyer in Indore, 450 km away as per the e-way bill. The transporter first fills in Part B on 10 October 2025 at 11:00 am. The truck breaks down on 12 October, and the goods move in another truck at 6:00 pm on 13 October. What should the transporter do?
A) Generate a new e-way bill, because the old one is tied to the first truck.
B) Update Part B with the new truck; the e-way bill is valid until midnight of 13 October.
C) Update Part B with the new truck; the e-way bill is valid until 11:00 am on 13 October.
D) Cancel the e-way bill and generate a new one.
Answer the poll first📊 and then check this👇
Answer - Option B
Why it's a trap: An e-way bill is valid for 1 day per 200 km or part of it, so 450 km gives 3 days. The count starts when Part B is first filled in, and each day ends at midnight of the following day, so it is valid until midnight of 13 October. Changing the truck only needs Part B updated. Cancellation is allowed only within 24 hours, and here it isn't needed anyway.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 5 (Indirect Tax), Q4(b).
Find out which topics cost you marks: free MCQ 1 at camcqs.com
A manufacturer in Chhatrapati Sambhajinagar sends goods to a buyer in Indore, 450 km away as per the e-way bill. The transporter first fills in Part B on 10 October 2025 at 11:00 am. The truck breaks down on 12 October, and the goods move in another truck at 6:00 pm on 13 October. What should the transporter do?
A) Generate a new e-way bill, because the old one is tied to the first truck.
B) Update Part B with the new truck; the e-way bill is valid until midnight of 13 October.
C) Update Part B with the new truck; the e-way bill is valid until 11:00 am on 13 October.
D) Cancel the e-way bill and generate a new one.
Answer the poll first📊 and then check this👇
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 5 (Indirect Tax), Q4(b).
Find out which topics cost you marks: free MCQ 1 at camcqs.com
IDT MCQ 2
Indus Foods, Ludhiana, exports 2,000 jars of pickle under LUT at ₹300 per jar (FOB = invoice value). It also sells 3,000 identical jars in India at ₹150 per jar. Its input tax credit for the month:
- Inputs: ₹1,40,000
- Input services: ₹1,00,000
- Capital goods: ₹1,00,000
What refund can it claim?
A) ₹1,37,143
B) ₹1,70,000
C) ₹1,20,000
D) ₹1,94,286
Answer: C
Why it's a trap: Two caps apply. First, export turnover counts at the lower of the export value and 1.5 times the domestic price of the same goods: lower of ₹6,00,000 and ₹4,50,000, so ₹4,50,000. Second, credit on capital goods is excluded, so the eligible credit is ₹2,40,000. Refund = 4.5 lakh ÷ 9 lakh × ₹2,40,000 = ₹1,20,000.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 5 (Indirect Tax), Q4(a).
Find out which topics cost you marks: free timed MCQ 1 at camcqs.com
Indus Foods, Ludhiana, exports 2,000 jars of pickle under LUT at ₹300 per jar (FOB = invoice value). It also sells 3,000 identical jars in India at ₹150 per jar. Its input tax credit for the month:
- Inputs: ₹1,40,000
- Input services: ₹1,00,000
- Capital goods: ₹1,00,000
What refund can it claim?
A) ₹1,37,143
B) ₹1,70,000
C) ₹1,20,000
D) ₹1,94,286
Why it's a trap: Two caps apply. First, export turnover counts at the lower of the export value and 1.5 times the domestic price of the same goods: lower of ₹6,00,000 and ₹4,50,000, so ₹4,50,000. Second, credit on capital goods is excluded, so the eligible credit is ₹2,40,000. Refund = 4.5 lakh ÷ 9 lakh × ₹2,40,000 = ₹1,20,000.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 5 (Indirect Tax), Q4(a).
Find out which topics cost you marks: free timed MCQ 1 at camcqs.com
❤1
DT MCQ 1
Saffron Tiles, Morbi, gives a resident dealer a smartphone as a sales incentive. Saffron bought the phone for ₹1,20,000; its MRP is ₹1,40,000. What must Saffron do?
A) Ensure TDS of ₹12,000 has been paid before handing over the phone
B) Deduct TDS of ₹14,000 on the MRP
C) Nothing, since the benefit is in kind
D) Deduct TDS of ₹12,000 within a month after handing it over
Answer: A
Why it's a trap: Section 194R covers benefits in kind above ₹20,000. When the giver bought the item, it is valued at the purchase price, not the MRP. And because there is no cash to deduct from, the giver must make sure the tax is paid before the benefit is released.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 4 (Direct Tax), Q4(a).
Find out which topics cost you marks: free timed MCQ 1 at camcqs.com
Saffron Tiles, Morbi, gives a resident dealer a smartphone as a sales incentive. Saffron bought the phone for ₹1,20,000; its MRP is ₹1,40,000. What must Saffron do?
A) Ensure TDS of ₹12,000 has been paid before handing over the phone
B) Deduct TDS of ₹14,000 on the MRP
C) Nothing, since the benefit is in kind
D) Deduct TDS of ₹12,000 within a month after handing it over
Why it's a trap: Section 194R covers benefits in kind above ₹20,000. When the giver bought the item, it is valued at the purchase price, not the MRP. And because there is no cash to deduct from, the giver must make sure the tax is paid before the benefit is released.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 4 (Direct Tax), Q4(a).
Find out which topics cost you marks: free timed MCQ 1 at camcqs.com
Got a question wrong in your mock? Here’s how to fix it before the exam ⬇️
https://youtube.com/shorts/qXU01026OmY
https://youtube.com/shorts/qXU01026OmY
YouTube
How to practise your mistakes on CA-MCQs 📱 #CAFinal
Got questions wrong in a CA Final mock? Here's how to practise them...
⏱ One question. Five seconds.
A stock future falls from Rs. 1,200 to Rs. 1,165 over two days. What margin call do you get on day 2?
https://www.youtube.com/shorts/JAV4UcXE8wI
A stock future falls from Rs. 1,200 to Rs. 1,165 over two days. What margin call do you get on day 2?
https://www.youtube.com/shorts/JAV4UcXE8wI
YouTube
CA Final AFM: one lot, two settlement days, one margin call. Can you answer? #camcqs #icai
Question: You buy one lot of a stock future, 500 shares at Rs. 1,20...
Plot agreed at Rs. 80 lakh. Stamp duty value Rs. 86 lakh on the agreement date, Rs. 95 lakh at registration. Part payment came 10 days after the agreement.
What's the full value of consideration? Pause, answer, then watch the reveal 👇
MCQ 1 of every CA Final paper is free: https://www.camcqs.com
https://www.youtube.com/shorts/_Q3VAcghiLw
What's the full value of consideration? Pause, answer, then watch the reveal 👇
MCQ 1 of every CA Final paper is free: https://www.camcqs.com
https://www.youtube.com/shorts/_Q3VAcghiLw
This media is not supported in your browser
VIEW IN TELEGRAM
🔥 CA FINAL NOV 2026 — DON’T IGNORE MCQs!
100+ students have already joined the practice. Now it’s your turn! 📚
The new exam pattern means MCQs deserve dedicated practice — speed, accuracy & conceptual clarity can make a real difference.
🎯 Practice MCQs like you would practice your main paper.
✅ 1 FREE TEST in every subject
✅ 4 additional tests per subject
✅ All 6 CA Final subjects covered
✅ Analyse your performance & identify where you’re losing marks
💰 NOV 2026 EXAM OFFER:
₹79 — Any 1 subject
₹199 — 1 Group
₹399 — Both Groups
⏳ LIMITED-TIME OFFER — Ends 20th October(6 DAYS LEFT)!
Don’t wait until the exam to realise you needed more MCQ practice.
👉 Practice now. Improve your speed. Make every MCQ count.
🌐 www.camcqs.com
100+ students have already joined the practice. Now it’s your turn! 📚
The new exam pattern means MCQs deserve dedicated practice — speed, accuracy & conceptual clarity can make a real difference.
🎯 Practice MCQs like you would practice your main paper.
✅ 1 FREE TEST in every subject
✅ 4 additional tests per subject
✅ All 6 CA Final subjects covered
✅ Analyse your performance & identify where you’re losing marks
💰 NOV 2026 EXAM OFFER:
₹79 — Any 1 subject
₹199 — 1 Group
₹399 — Both Groups
⏳ LIMITED-TIME OFFER — Ends 20th October(6 DAYS LEFT)!
Don’t wait until the exam to realise you needed more MCQ practice.
👉 Practice now. Improve your speed. Make every MCQ count.
🌐 www.camcqs.com
AFM MTP 2 CASE SCENARIO MCQs
Mr. Arvind Mehta, a retired corporate executive has accumulated a diversified investment portfolio consisting of equily shares, debt securilies, gold ETFs and real estale investment trusts (REITs). He consults his investment advisor annually to review his portfolio
During the latest review, the advisor presents different approaches to asset allocation. In one approach, the portfolio is designed after considering both the prevailing capital market outlook and Mr. Mehla's financial objectives and constraints. In another approach, the portfolio is constructed using long-lerm historical return, risk and covariance dala and is periodically rebalanced to restore the desired asset mix. A third approach assumes that Mr. Mehla's risk tolerance remains unchanged but modifies the asset allocation whenever expectations about capital market conditions change. Finally, the advisor explains an approach under which Mr. Mehta's exposure to risky assets increases as his portfolio value grows and decreases if the portfolio value falls, thereby protecting a minimum level of wealth
Based on the above case scenano, answer the following questions.
CHECK NOW👇 IF YOU CAN ANSWER IT CORRECTLY!!
Mr. Arvind Mehta, a retired corporate executive has accumulated a diversified investment portfolio consisting of equily shares, debt securilies, gold ETFs and real estale investment trusts (REITs). He consults his investment advisor annually to review his portfolio
During the latest review, the advisor presents different approaches to asset allocation. In one approach, the portfolio is designed after considering both the prevailing capital market outlook and Mr. Mehla's financial objectives and constraints. In another approach, the portfolio is constructed using long-lerm historical return, risk and covariance dala and is periodically rebalanced to restore the desired asset mix. A third approach assumes that Mr. Mehla's risk tolerance remains unchanged but modifies the asset allocation whenever expectations about capital market conditions change. Finally, the advisor explains an approach under which Mr. Mehta's exposure to risky assets increases as his portfolio value grows and decreases if the portfolio value falls, thereby protecting a minimum level of wealth
Based on the above case scenano, answer the following questions.
CHECK NOW👇 IF YOU CAN ANSWER IT CORRECTLY!!