10 Latest MCQs Question on GST Accounting

Q1. The liability to pay GST in case of goods arises when:

The invoice is raised

Payment receipt is made

All of the above

Goods are supplied

Q2. Choose the full-form of SAC Code

Services And Care

Software Application Code

Services Accounting Code

System Application Code

Q3. Select the option which is not a part of GST

Stamp duty

Enter tax

Entertainment tax

VAT

Q4. What does GST stand for?

General Sales Tax

Good and Services Tax

Goods, Services and Travel Tax

Government Services Tax

Q5. What is the ceiling limit as prescribed under IGST?

0.4

0.1

0.2

0.3

Q6. What is the given time limit to complete the supply+taxes payment?

90 days

1 year

180 days

6 months

Q7. What is proportionate credit allowed for in case of capital goods?

None of the above

For only non-business work

For both business and non-business work

For only business work

Q8. How much ITC can a banking company claim?

Actual credit

50% credit

Either actual credit or 50% credit

Both actual credit and 50% credit

Q9. What can you use provisional input tax credit for?

Against tax liability

Against interest

Against fine

Against self-assessed output tax liability

Q10. The "I" in IGST is for:

Internal

International

Important

Integrated

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