Quiz on revised GST Rates - ETCs

Made purchases @12% GST on 21st Sept25 & selling on 22nd Sept25 with the new rate reduced to 5% GST, can I you use/claim complete ITC of 12%

• No, only at new rate
• Yes, the ITC already availed@12% can be used i.e. ITC at the old rate as per invoice when supply was made
• Only if approved by CBIC

The supplies is now exempted under new rate schedule (from 22 September), but I have ITC in my e-credit ledger what I have to do?

• Always reverse full ITC balance
• Reverse ITC for exempt supplies as per Rule 42/43 except portion used for supplies before the change
• No need to reverse any ITC

For Sales made on 10 September at 12% GST, and Sales returns done on 25 September (after rate change to 5%), which GST rate applies on the credit note?

• 5%
• 12%
• 18%

Which date are the new GST rates (5%, 18%, and 40%) scheduled to become effective for goods and services?

• 22-09-2025
• 01-10-2025
• 21-09-2025

After new GST comes into force, if a supply was made before rate change but invoice & payment are after, how is time of supply determined?

• Date of invoice only
• Date of receipt of payment or date of invoice, whichever is earlier
• Always date of rate change

Do e‑way bills already generated for goods in transit need to be cancelled and reissued because of the GST rate change?

• Yes, always
• No, existing e‑way bills remain valid
• Only if goods cross state boundary

If payment for supply is received before rate change but invoice issued after, which rate applies?

• Old rate always
• Old rate (since payment was before change)
• New rate always

Under the reforms, how are return transactions treated when original supply was under old rate?

• New rate always applies
• Original supply rate applies for credit note or return
• Exempt if after date

If an invoice is issued after rate change but payment received before, which date/time determines the tax liability?

• Invoice date only
• Payment date
• Rate change date

What rate will apply to services like transportation of passengers under new rules if provider wants to claim input credit?

• 40%
• 18%
• 5%