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GST MCQ Questions and Solutions with Explanations | Commerce

GST MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. GST MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-5 section-1

Each section contains 100 MCQs on GST .
41
Is definition of Inputs includes capital goods
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
42
Whether credit on capital goods can be taken immediately on receipt of the goods?
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
43
When can a registered person avail credit on inputs?
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
44
In case supplier has deposited the taxes but the receiver has not received the goods, is receiver entitled to avail credit?
Discuss
Answer & Solution
Answer: Option B
No explanation is given for this question. Let's Discuss on Board
45
Input tax credit on capital goods and Inputs can be availed in
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
46
The time limit to pay the value of supply with taxes
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
47
Whether credit can be availed without actual receipt of goods where goods are transferred through transfer of document of title before or during the movement of goods?
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
48
Whether depreciation on tax component of capital goods and Plant and Machinery and whether input tax credit (ITC) is Permissible?
Discuss
Answer & Solution
Answer: Option C
No explanation is given for this question. Let's Discuss on Board
49
For capital goods, proportionate credit is allowed
Discuss
Answer & Solution
Answer: Option A
No explanation is given for this question. Let's Discuss on Board
50
Banking company or Financial Institution have an option of claiming ITC:
Discuss
Answer & Solution
Answer: Option A
Solution:
Banking companies or financial institutions have an option for claiming the ITC on the deposits and loans or advances to comply with actual rules or claim the 50% of the total ITC available in each month and the rest will lapse.