Forwarded from Mission CA Final MCQs π
Which services received without consideration amount to supply ?
Anonymous Quiz
48%
(A) (i), (iii) and (iv)
15%
(B) (ii), (iii) and (iv)
12%
(C) (ii) and (iii)
25%
(D) (i) and (ii)
π1
Forwarded from Mission CA Final MCQs π
2) Which of the following statements is true under GST? [MTP MAY 2019 1M]
Anonymous Quiz
23%
(A) Grand-parents are never considered as related persons to their grandson/granddaughter
23%
(B) Grand-parents are always considered as related persons to their grandson/granddaughter
48%
(C) Grand-parents are considered as RP to their grandson/daughter only if they are dependent on them
6%
(D) None of the above
Forwarded from Mission CA Final MCQs π
Purvi supplied 2,000 packages (consisting of pen, calculator & tape) at a single price of βΉ250 to Bindusar School. Rates of GST for pen, calculator and tape are 5%, 12% & 18% respectively.
What is nature of supply and the rate of GST?
[MTP NOV 22 2M]
What is nature of supply and the rate of GST?
[MTP NOV 22 2M]
Anonymous Quiz
4%
(A) composite supply & applicable rate of GST is 12%
88%
(B) mixed supply & applicable rate of GST is 18%
6%
(C) composite supply & applicable rate of GST is 18%
3%
(D) mixed supply & applicable rate of GST is 12%
Forwarded from Mission CA Final MCQs π
6) Sarabhai & Sarabhai Associates, a partnership firm registered under GST, It provides free gifts to each of its employees valuing βΉ50000 at the end of each FY.
Free gifts of value of βΉ50000 provided to each of its employee is?
[MTP NOV-22 2M]
Free gifts of value of βΉ50000 provided to each of its employee is?
[MTP NOV-22 2M]
Anonymous Quiz
5%
(A) considered as supply of goods
6%
(B) considered as supply of services
34%
(C) exempt from GST
55%
(D) not a supply as per Schedule I of the CGST Act, 2017
Forwarded from Mission CA Final MCQs π
4) From the following case scenario choose the appropriate answer from the question.
Ms. Riya is a multi-faceted business personality. She is registered under GST.
She supplied a package of stapler, calculator and charger at a single price of βΉ 300/. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively.
π© For All Subjects Notes
π΅πππ β¨ @Divyesh_Vaghelaβ
οΈ
.
Ms. Riya is a multi-faceted business personality. She is registered under GST.
She supplied a package of stapler, calculator and charger at a single price of βΉ 300/. Rate of GST for stapler, calculator and charger is 5%, 12% and 18% respectively.
π΅πππ β¨ @Divyesh_Vaghela
.
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Forwarded from Mission CA Final MCQs π
What would be the nature of supply and the applicable rate of GST for the supply of package made by Ms. Riya ?
Anonymous Quiz
5%
(A) composite Supply & applicable rate 12%
83%
(B) mixed Supply & applicable rate 18%
10%
(C) composite Supply & applicable rate 18%
2%
(D) mixed Supply & applicable rate 12%
π2π1
Forwarded from Mission CA Final MCQs π
7) ABC Ltd. is a registered pharmaceutical company. The company invented one drug for
instant cure of cancer. They supplied free samples of this medicine to various doctors.
What will be the tax treatment of these free samples under GST? [RTP MAY-20]
instant cure of cancer. They supplied free samples of this medicine to various doctors.
What will be the tax treatment of these free samples under GST? [RTP MAY-20]
Anonymous Quiz
17%
(A) ABC Ltd. is liable to pay tax on supply of free samples and eligible to claim ITC
11%
(B) ABC Ltd is not liable to pay tax on supply of free samples but eligible to claim ITC
50%
(C) ABC Ltd. is neither liable to pay tax on supply of free samples nor eligible to claim ITC
22%
(D) ABC Ltd. is liable to pay tax on supply of free samples but not eligible to claim ITC
Forwarded from Mission CA Final MCQs π
8) Which of the following is not covered under Schedule III of CGST Act, 2017?
[RTP MAY-20]
[RTP MAY-20]
Anonymous Quiz
17%
(A)Directorβs monthly salary under employment agreement
9%
(B)Sitting fees to independent directors for attending AGMs
17%
(C)Payment to employee for broking services, such services do not form part of the emplymnt contract
57%
(D)Both (b) and (c)
Forwarded from Mission CA Final MCQs π
10) Which activity is supply of services?
i)Transfer of right without transfer of title in goods
ii)Transfer of title in goods iii)Transfer of title in goods under an agreement that property shall pass at a future date upon full payment [MCQ Booklet]
i)Transfer of right without transfer of title in goods
ii)Transfer of title in goods iii)Transfer of title in goods under an agreement that property shall pass at a future date upon full payment [MCQ Booklet]
Anonymous Quiz
55%
(A) (i)
9%
(B) (iii)
19%
(C) (i) and (iii)
17%
(D) (i), (ii) and (iii)
π1
Forwarded from Mission CA Final MCQs π
11) Which of the following is not considered as βgoodsβ under the CGST Act, 2017? [MCQ Booklet]
(i) Ten-paisa coin having sale value of βΉ100
(ii) Shares of unlisted company (iii) Lottery tickets
(i) Ten-paisa coin having sale value of βΉ100
(ii) Shares of unlisted company (iii) Lottery tickets
Anonymous Quiz
17%
(a) (i)
39%
(b) (ii)
17%
(c) (ii) and (iii)
26%
(d) (i), (ii) and (iii)
π1
Forwarded from Mission CA Final MCQs π
12) Goods as per section 2(52) of the CGST Act, 2017 includes: [MCQ Booklet]
(i) Actionable claims
(ii) Growing crops attached to the land agreed to be severed before supply (iii) Money (iv) Securities
(i) Actionable claims
(ii) Growing crops attached to the land agreed to be severed before supply (iii) Money (iv) Securities
Anonymous Quiz
12%
(a) (i) and (iii)
12%
(b) (iii) and (iv)
70%
(c) (i) and (ii)
6%
(d) (ii) and (iii)
Forwarded from Mission CA Final MCQs π
13) Determine which of the following independent cases will be deemed as supply even if made without consideration in terms of Schedule I of the CGST Act, 2017?
(i) AB & Associates transfers stock of goods from its Mumbai
branch to Kolkata depot for sale of such goods at the depot.
(ii) Mr. Raghuveer, a dealer of air-conditioners permanently
transfers the motor vehicle free of cost. ITC on said motor
vehicle was blocked and therefore, was not availed.
(iii) Mrs. Riddhi, an employee of Sun Ltd., received gift from her
employer on the occasion of Diwali worth βΉ21,000.
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(i) AB & Associates transfers stock of goods from its Mumbai
branch to Kolkata depot for sale of such goods at the depot.
(ii) Mr. Raghuveer, a dealer of air-conditioners permanently
transfers the motor vehicle free of cost. ITC on said motor
vehicle was blocked and therefore, was not availed.
(iii) Mrs. Riddhi, an employee of Sun Ltd., received gift from her
employer on the occasion of Diwali worth βΉ21,000.
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Choose correct option.
Anonymous Quiz
62%
(A) (i)
9%
(B) (ii)
8%
(C) (iii)
22%
(D) Both (i) and (ii)
β€1
Forwarded from Mission CA Final MCQs π
14) Gift of βΉ 50,000 in value provided by Triambak & Co to each of its employee will be?
[MCQ Booklet]
[MCQ Booklet]
Anonymous Quiz
10%
(a) Supply of goods
6%
(b) Supply of services
5%
(c) Both supply of goods and services
79%
(d) Neither supply of goods nor supply of services
Forwarded from Mission CA Final MCQs π
Which of the following services received without consideration amount to supply?
(1) Import of services by a person in India from his son well -settled in USA
(2) Import of services by a person in India from his brother well -settled in Germany
(3) Import of services by a person in India from his brother (wholly dependent on such person in
India) in France
(4) Import of services by a person in India from his daughter (wholly dependent on such person in
India) in Russia
MCQ Options
https://t.me/Mission_CA_Final_MCQs/668
Answer Explanation :
(Click it only after attempting mcq Options)
Related person covers -
Spouse + Children (Not requirement of dependent)
Parents, Grand Parents, Brother/Sister (All 3 has to be dependent)
So Option 2 will not be amount to supply as brother is not given dependent
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οΈ
(1) Import of services by a person in India from his son well -settled in USA
(2) Import of services by a person in India from his brother well -settled in Germany
(3) Import of services by a person in India from his brother (wholly dependent on such person in
India) in France
(4) Import of services by a person in India from his daughter (wholly dependent on such person in
India) in Russia
MCQ Options
https://t.me/Mission_CA_Final_MCQs/668
Answer Explanation :
(Click it only after attempting mcq Options)
Parents, Grand Parents, Brother/Sister (All 3 has to be dependent)
So Option 2 will not be amount to supply as brother is not given dependent
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Mission CA Final MCQs π
Answer?
(a) 1), 3) and 4) / (b) 2), 3) and 4) / (c) 2) and 3) / (d) 1) and 2)
(a) 1), 3) and 4) / (b) 2), 3) and 4) / (c) 2) and 3) / (d) 1) and 2)
π2
Forwarded from Mission CA Final MCQs π
Answer?
Anonymous Quiz
56%
(a) 1), 3) and 4)
16%
(b) 2), 3) and 4)
9%
(c) 2) and 3)
18%
(d) 1) and 2)
Forwarded from Mission CA Final MCQs π
ABC Ltd. is a registered pharmaceutical company. The company invented one drug for instant cure
of cancer. They supplied free samples of this medicine to various doctors. What will be the tax
treatment of these free samples under GST?
of cancer. They supplied free samples of this medicine to various doctors. What will be the tax
treatment of these free samples under GST?
Anonymous Quiz
15%
ABC Ltd. is liable to pay tax on supply of free samples and eligible to claim input tax credit.
9%
ABC Ltd. is not liable to pay tax on supply of free samples but eligible to claim input tax credit.
51%
ABC Ltd. is neither liable to pay tax on supply of free samples nor eligible to claim ITC
25%
ABC Ltd. is liable to pay tax on supply of free samples but not eligible to claim input tax credit.
Forwarded from Mission CA Final MCQs π
Which of the following services is exempt from GST?
(a) Bollywood dance performance by a film actor in a film and consideration charged is Rs 1,45,000.
(b) Carnatic music performance by a classical singer to promote a brand of readymade garments and consideration
charged is Rs 1,30,000.
(c) Carnatic music performance by a classical singer in a music concert and consideration charged is Rs 1,55,000.
(d) Kathak dance performance by a classical dancer in a cultural programme and consideration charged is Rs
1,45,000.
π© For All Subjects Notes
π΅πππ β¨ @Divyesh_Vaghelaβ
οΈ
(a) Bollywood dance performance by a film actor in a film and consideration charged is Rs 1,45,000.
(b) Carnatic music performance by a classical singer to promote a brand of readymade garments and consideration
charged is Rs 1,30,000.
(c) Carnatic music performance by a classical singer in a music concert and consideration charged is Rs 1,55,000.
(d) Kathak dance performance by a classical dancer in a cultural programme and consideration charged is Rs
1,45,000.
π΅πππ β¨ @Divyesh_Vaghela
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Forwarded from Mission CA Final MCQs π
Mission CA Final MCQs π
Which of the following services is exempt from GST? (a) Bollywood dance performance by a film actor in a film and consideration charged is Rs 1,45,000. (b) Carnatic music performance by a classical singer to promote a brand of readymade garments and considerationβ¦
π2
Forwarded from Mission CA Final MCQs π
Which of the following service is not exempt under GST?
(a) Loading and unloading of paddy
(b) Loading and unloading of sugarcane (c) Loading and unloading of tea bags (d) Loading and unloading of potato
(a) Loading and unloading of paddy
(b) Loading and unloading of sugarcane (c) Loading and unloading of tea bags (d) Loading and unloading of potato
Anonymous Quiz
16%
A
12%
B
56%
C
16%
D
π6π1
Forwarded from Mission CA Final MCQs π
6) X & Co., a supplier registered under GST in Meghalaya, wants to opt for composition levy. The aggregate turnover limit for composition levy is ? [MCQ Booklet]
Anonymous Quiz
11%
(A) 50 Lakh
69%
(B) 75 lakh
16%
(C) 1.5 crore
4%
(D) None of the above
π5β€1