Gst(Commerce ) Questions and Answers

Question 1. The books and other records U/S 35 are to be maintained at
  1.    Place where the books and accounts are maintained
  2.    Place of address of the Proprietor/ Partner/Director/Principal Officer
  3.    Principal place of business mentioned in the Certificate of Registration
  4.    Any of the above
Explanation:-
Answer: Option C. -> Principal place of business mentioned in the Certificate of Registration
Question 2. Accounts are required to be maintained in
  1.    Manual form
  2.    Electronic form
  3.    Manual and electronic form
  4.    Manual or electronic form
Explanation:-
Answer: Option D. -> Manual or electronic form
Question 3. Can all the records be maintained in an electronic form?
  1.    Yes
  2.    Only if authenticated by digital signature
  3.    Few records
  4.    No
Explanation:-
Answer: Option B. -> Only if authenticated by digital signature
Question 4. First Return filed under GST is
  1.    GSTR-1
  2.    GSTR-3A
  3.    GSTR-2
  4.    GSTR-3B
  5.    GSTR-4
Explanation:-
Answer: Option D. -> GSTR-3B
Question 5. The details of outward supplies of goods or services shall be submitted by
  1.    10th of the succeeding month
  2.    18th of the succeeding month
  3.    15th of the succeeding month
  4.    20th of the succeeding month
Explanation:-
Answer: Option A. -> 10th of the succeeding month
Question 6. Every registered taxable person shall be entitled to take credit of input tax in his return and such input tax credit shall be credited to
  1.    Personal Ledger Account
  2.    Refund account
  3.    Electronic Cash Ledger
  4.    Electronic Credit Ledger
Explanation:-
Answer: Option D. -> Electronic Credit Ledger
Question 7. Any registered taxable person who fails to furnish the details and file the return within the due date prescribed shall be liable to
  1.    Interest at the rate of 1% per month
  2.    Late fee of Rs. 100 for every day up to Rs. 5000
  3.    Both (a) and (b)
  4.    None of the above
Explanation:-
Answer: Option B. -> Late fee of Rs. 100 for every day up to Rs. 5000
Question 8. Which of these registers/ledgers are maintained online?
  1.    Tax liability register
  2.    Credit ledger
  3.    Cash ledger
  4.    All of them
Explanation:-
Answer: Option D. -> All of them
Question 9. Balance in electronic credit ledger can be utilized against which liability?
  1.    Output tax payable
  2.    Interest payable
  3.    Penalty
  4.    All of above
Explanation:-
Answer: Option A. -> Output tax payable
Question 10. Payment made through challan will be credited to which registers/ledgers?
  1.    Electronic Tax liability register
  2.    Electronic Credit ledger
  3.    Electronic Cash ledger
  4.    All of them
Explanation:-
Answer: Option C. -> Electronic Cash ledger
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