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WorksheetsQuiz on GST 2.0 and FS for NCEs
Total questions: 25
Worksheet time: 19mins
Name
Class
Date
1.
In which GST council meeting GST 2.0 decisions taken by GSTN committee
a)
57th
b)
56th
c)
54th
d)
53rd
2.
Which of the decision NOT taken in GST council meeting
a)
Reduction in GST rates
b)
Simply GST returns
c)
Amendments to place of supply rules
d)
FR for NCEs
3.
As per GST council meeting, from when new GST rates will be applicable
a)
22nd Sept
b)
21st Sept
c)
30th Sept
d)
1st Oct
4.
What is standard rate finalised for consumer goods
a)
0.18
b)
0.12
c)
0.05
d)
0.4
5.
Identify the incorrect statement regarding Provisional GST Refunds
a)
Operational from 22nd Sept
b)
Facilitates 90% refund for zero-rated supplies
c)
Improving cash flow
6.
As per the council decision, new registration will be granted within __ working days
a)
3
b)
7
c)
15
d)
30
7.
As per new amendments to place of supply rules, BPO services will be treated as ______
a)
Export
b)
B2B
c)
Import
d)
B2C
8.
As clarified on "Discounts granted post invoices", post sale discount should be issued through_____.
a)
Credit Notes
b)
Tax Invoice
c)
Debit Note
d)
Purchase return
9.
What is RSP
a)
Retail Sale Price
b)
Retail Sale Product
c)
Return Sales Price
d)
Retail Service Provider
10.
What is GST AT
a)
GST Appellate Tribunal
b)
GST Approval Team
c)
GST Applicable Tax
d)
GST Advance Tax
11.
When is the deadline to replace the old MRP stickers
a)
31st Dec 2025
b)
22nd Sept 2025
c)
1st Nov 2025
d)
1st Oct 2025
12.
What is the GST rate for Luxury and sin goods
a)
0.4
b)
0.28
c)
0.18
d)
0.12
13.
What is the easiest way to navigate the GST Rate Setup option in TallyPrime
a)
GoTo--> Select GST Rate Setup
b)
Display More Reports--> GST Rate Setup
c)
Display More Reports--> Inventory Books--> GST Rate Setup
d)
Display More Reports-->Account Books--> GST Rate Setup
14.
I have multiple tax rate SKUs, my items are grouped as per brand and Tax rates are configured at item level, what is the best way to change the new rates as per GST 2.0
a)
Choose the GST rate setup from GoTo menu, Tally will automatically list the items tax rate wise, choose the items under old rate and update the new rate for bulk items
b)
Choose the GST rate setup from GoTo menu, Click sort button to sort rate wise, choose the items under old rate and update the new rate for bulk items
c)
Choose the GST rate setup from GoTo menu, choose the items one by one and update the new rate
d)
Choose the GST rate setup from GoTo menu, select ledger option and update new rate at ledger level
15.
We have set the Tax rate at ledger level, what is the best way to update the new rates
a)
Choose the GST rate setup from GoTo menu, select ledgers with old rates and update the new rates
b)
Need to change the tax rate at item level
c)
Need to change the tax rate at group level
d)
Need buy a TDL to update the new rates
16.
What if supply was made before the changes in rates but the invoice was issued later?
a)
Tax will be applicable based on the invoice date
b)
Old tax rate is applicable
c)
Issue the invoice with average tax rate
d)
Take back the goods
17.
If certain goods were purchased on or before 21.09.2025 at a GST rate of 12%, and with effect from 22.09.2025, the GST rate is reduced to 5%, then at what rate will outward supply on 22nd Sept be taxable?
If certain goods were purchased on or before 21.09.2025 at a GST rate of 12%, and with effect from 22.09.2025, the GST rate is reduced to 5%, then at what rate will outward supply be taxable?
a)
0.05
b)
0.12
c)
0.07
d)
0.18
18.
If goods purchased before 21.09.2025 at 12% are still lying in stock on 22.09.2025, when the GST rate is reduced to 5%, is the Registered Person required to reverse the differential Input Tax Credit (7%)?
a)
No reversal required, ITC will carry forward
b)
Need to pass adjustment entry for 7%
c)
Excess ITC to be adjusted within 30 days
d)
Issue a debit note to supplier
19.
If goods purchased before 21.09.2025 at 12% GST become exempt (0%) with effect from 22.09.2025, what happens to the ITC already availed?
a)
ITC will have to be reversed
b)
No impact on ITC
c)
Need to sell at older rate
d)
Need to sell at lower tax rate (5%)
20.
If goods were supplied on or before 21.09.2025 when the GST rate was 12%, and thereafter on 22.09.2025 or later (When rate of GST is 5%) a credit note is issued in respect of those supplies, which GST rate should be applied on the credit note?
a)
0.12
b)
0.05
c)
0.07
d)
0.18
21.
How TallyPrime supporting to generate Financial Statements for NCEs
a)
Providing Add-on and Excel tool
b)
Built in features for all Financial statements
c)
Need to buy a TDL
d)
Need to buy a TDL and download excel tool from ICAI website
22.
How to register to enable FS for NCE tool
a)
Option available on TSPL website
b)
Option available on partner portal
c)
Customer need to send an email to TallyCare
d)
Need to contact ICAI
23.
What is cost of FS for NCE tool for CAs
a)
No Cost
b)
Rs. 4500 +GST
c)
Rs. 7200+GST
d)
Rs. 5400+GST
24.
Once the tool is linked to the Tally serial number and the license is updated, where the Excel tool is made available in my computer
a)
Appresouces folder under TallyPrime folder
b)
Excelmaps folder under TallyPrime folder
c)
Tools folder under TallyPrime folder
d)
Download folder in MyComputer
25.
How to navigate to NCE reports in TallyPrime
a)
Open B/S or P&L, then under export menu option is available to export
b)
Open B/S or P&L, then Click on GoTo to get the option
c)
Open B/S or P&L, then press F12:Configure to get the report
d)
Open B/S or P&L, then choose exception reports
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