GST Titan Quiz

Following amounts of GST are being reflected in GSTR-2B of Sukhiya Associates, registered under GST, for the month of April: (i) Raw material purchased Rs.20,000 (ii) Machinery purchased for manufacturing goods Rs. 1,00,000 (iii) Raw material purchased for construction of immovable property to be capitalised in the books of accounts-Rs.5,00,000 Apart from this, an invoice for purchase of raw materials containing GST of Rs.30,000 is not reflected in GSTR-2B of April as the supplier has not furnished his GSTR-1. Moreover, GST of Rs.25,000 is paid on GTA services received from Sindhu Transporters in April for transport of raw materials. Compute the amount of ITC that Sukhiya Associates is eligble to avail for the month of April.

• Rs.1,45,000
• Rs.6,20,000
• Rs.6,45,000
• Rs.6,75,000

Cheeku Ltd., a registered person, is engaged in manufacturing of taxable goods. It provides following details in relation to GST paid on inward supplies procured by it during the month of January: (i) Raw material purchased Rs.2,00,000 (to be received in the month of February) (ii) Capital goods purchased Rs.4,80,000 (Invoice for one of the machines is missing. GST paid on the same is Rs.70,000) (iv) Free samples distributed Rs. 80,000 (v) Trucks used for transport of minerals Rs. 1,20,000 Determine the amount of ITC that can be availed by Cheeku Ltd. for the month of January. Subject to the information given above, all the other conditions necessary for availing ITC have been fulfilled.

• Rs.7,30,000
• Rs.5,30,000
• Rs.6,80,000
• Rs.7,60,000

Dheeru Ltd., a registered person, is engaged in manufacturing of toys. It provides following details in relation to GST paid on inward supplies procured by it during the month of October: (i) Raw material purchased GST paid-Rs. 2,00,000 (ii) Construction of pipelines laid outside the factory premises GST paid-Rs 3,00,000 (iii) Insurance charges paid for trucks used for transportation of goods GST paid-Rs 80,000 Determine the amount of ITC that can be availed by Dheeru Ltd. for the month of October. Subject to the information given above, all the other conditions necessary for availing ITC have been fulfilled.

• Rs.5,00,000
• Rs.2,80,000
• Rs.3,80,000
• Rs.5,80,000

Vrinda Enterprises is a trader of electronic items in Haryana. It opted for the composition scheme on 1st April of current financial year. However, with effect from 1st July, it switched to regular scheme of paying the tax since its aggregate turnover crossed Rs.150 lakh. The stock of goods (purchased during last 6 months) and machinery (purchased on 3rd May) on 30th June is Rs.16,00,000 and Rs.6,20,000 respectively. Compute the amount of ITC that can be availed by Vrinda Enterprises assuming the applicable rate of GST to be 18%.

• Nil
• Rs.3,94,020
• Rs.3,96,000
• Rs.2,88,000

Dua & Co made an outward inter-State supply of Rs.80 lakh in the month of March. During the month, it purchased raw material worth Rs.70 lakh and procured cement of Rs.5 lakh for making foundation and structural support to a plant and machinery. Assuming that the opening balance of ITC for IGST for the relevant period is Rs.2 lakh and all inward and outward supplies undertaken in the month of March are inter-State, compute the amount of net IGST payable in cash, if any, for the month of March. Rate of GST applicable is 18%. Subject to the information given above, all the other conditions necessary for availing ITC have been fulfilled

• Rs.14,400
• Nil
• Rs.14.40 lakh
• Rs.9,000

ITC on cars purchased by a manufacturing company for official use of its employees is

• blocked.
• allowed.

ITC on buses (seating capacity for 24 persons) purchased by a company for transportation of its employees from their residence to office and back

• blocked.
• allowed.

ITC on general insurance services taken on cars manufactured by a car manufacturing company is

• blocked.
• allowed.

The Managing Director of a company has taken membership of a club, the fees for which is paid by the company. ITC on such service is

• blocked.
• allowed.

ITC on works contract services availed by a manufacturing company for construction of pipelines to be laid outside its factory

• blocked.
• allowed.