Chettinad- GST Training V2

Which of the following Statements is true?

• ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of SGST/UTGST

• ITC of SGST is first utilized for payment of SGST and the balance is utilized for

  payment of CGST

• ITC of CGST is first utilized for payment of CGST and the balance is utilized for

  payment of IGST

• None of the Above

Interest is payable on: -

• Belated payment of tax

• Wrong availment of input tax credit

• Wrong availment and utilization of input tax credit

• Both (a) and (c)

Interest is calculated: -

• From the date following the day on which tax becomes due to be paid

• Last day such tax was due to be paid

• No periods specified

• None of the above

The deduction of tax by the Deductor under Section 51 of CGST Act is at the rate of:

• 2%

• 3%

• 1%

• None of the above.

The amount of tax deducted by the deductor has to be paid to the credit of the appropriate

Government within ………… days after the end of the month in which such deduction is made:

• 20 days

• 10 days

• 15 days

• 5 days

Tax deduction shall be made if -

• A contract is for an amount exceeds Rs. 25 lakh

• A supplier supplies goods or services or both exceeding Rs. 2.5 lakh under a contract

• A recipient receives goods or services or both exceeding Rs. 2.5 lakh in a year from

  various contractors

• None of the above

Tax is to be collected by the E-commerce operator under the CGST Act at the rate of:

• 1%

• 2%

• 0.5%

• A percentage not exceeding 1%.

What is the relevant date in case of refund on account of excess payment of GST due to mistake or inadvertence?

• Date of payment of GST

• Last day of the financial year

• Date of providing of service

• None of the above

Refund of accumulated input tax of inputs credit at the end of any tax period is eligible in cases of?

• Due to purchase of huge stocks

• Credit cannot be used for any reason.

• Due to Exports and input tax rate of inputs being higher than output tax rate

• Due to Exports only.

Relevant date for computing time limit to claim refund in case of deemed exports supply of goods is –

• Date of filing returns relating to such deemed exports;

• Date of goods leaving India;

• Date of payment of Tax;

• Date of receipt of consideration in Foreign Exchange;