MCQ Portal

30:00

Dec 2018 Indirect Tax Paper

The Number of MCQs are limited as per ICMAI Past Paper in Syllabus 2016

1. Which of the following manufacturers is ineligible for the composition levy scheme?

Manufacturer of pan masala Manufacturer of ice cream Manufacturer of tobacco substitutes All of the above

2. Under GST, tax is applicable on services provided by an employee to an employer when:

The service is provided regularly as part of employment The service is provided on a contract basis and not as part of employment Neither (A) nor (B) Both (A) and (B)

3. Which of the following is excluded from the value of supply under GST?

Commission Late fee or penalty for delay GST Interest

4. When an individual becomes liable for GST registration, they must submit their application within:

15 days 30 days 60 days 90 days

5. Under GST law, which tax is applied to inter-state supply of goods?

CGST only SGST and IGST IGST and CGST IGST only

6. When goods are thrown into the sea to reduce the weight of a ship and prevent it from sinking, and the thrown goods sink, it is known as:

Jettison Overload Underload None of the above

7. Basic customs duty on imported goods is levied at the rates specified in:

First Schedule of the Customs Tariff Act, 1975 Second Schedule of the Customs Tariff Act, 1975 Customs Act, 1962 Customs Manual, 2001

8. A ship carries goods K, L, M, and N from Singapore to Dubai via Chennai. L and M are moved at Chennai onto another vessel—L being meant for Kochi and M for Dubai. According to customs law, the transhipped goods are:

All four L only L and M None of the goods

9. Under the GST regime, the IGST rate applicable on all imports is:

25% 18% 15% 10%

10. As per Section 2(24) of the Customs Act, 1962, the person in charge of a vehicle carrying imported goods must deliver an import report to the proper officer within _______ after arrival at the customs station, in the prescribed form:

12 hours 18 hours 24 hours None of the above