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CA Inter Computation of GST Liability — practice questions

Explore 67 free Computation of GST Liability questions in CA Inter Taxation. Open each question or exercise to read its content, reference answers and available explanation.

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Computation of GST Liability questions and exercises with answers

Showing questions 1–30 of 67.

Under Section 15, the value of supply is generally the:Read the answer and worked solution →Transaction value applies only if the supplier and recipient are:Read the answer and worked solution →A subsidy given by the Central or State Government is:Read the answer and worked solution →A non-government subsidy directly linked to the price is:Read the answer and worked solution →A discount given at the time of supply and shown on the invoice is:Read the answer and worked solution →A post-supply discount must be established in an agreement made:Read the answer and worked solution →If value cannot be fixed as transaction value, it is determined:Read the answer and worked solution →Two persons who are employer and employee are deemed:Read the answer and worked solution →Holding what share of voting stock of both makes persons related?Read the answer and worked solution →Persons who are members of the same family are treated as:Read the answer and worked solution →A sole distributor and the supplier whose goods it distributes are:Read the answer and worked solution →Two persons both controlled by a third person are:Read the answer and worked solution →A composite supply with a principal supply is taxed as:Read the answer and worked solution →A mixed supply of items at 5%, 12% and 18% totals Rs 10,000. GST?Read the answer and worked solution →Principal supply taxed 12%, ancillary 18%, composite bill Rs 50,000. GST?Read the answer and worked solution →CGST under Section 9 is levied on which supplies?Read the answer and worked solution →Which supply is outside the CGST levy under Section 9(1)?Read the answer and worked solution →The maximum CGST rate that can be notified under Section 9(1) is:Read the answer and worked solution →Reverse charge categories are notified on whose recommendation?Read the answer and worked solution →Under reverse charge, who is treated as liable to pay the tax?Read the answer and worked solution →A recipient who pays tax under reverse charge is eligible for:Read the answer and worked solution →Under reverse charge, tax on behalf of unregistered suppliers is paid by the:Read the answer and worked solution →CGST on petrol and diesel will be levied from:Read the answer and worked solution →Under Section 10, a composition taxpayer pays:Read the answer and worked solution →May a composition taxpayer collect tax from the recipient?Read the answer and worked solution →A composition taxpayer is entitled to input tax credit:Read the answer and worked solution →A person making inter-State outward supplies of goods can:Read the answer and worked solution →Several registered persons with one PAN may opt for composition only if:Read the answer and worked solution →The composition option lapses when:Read the answer and worked solution →A person paying composition tax while ineligible is liable to:Read the answer and worked solution →

Worked practice questions

Under Section 15, the value of supply is generally the:

  1. Transaction value, the price paid or payable
  2. Market price on the date of supply
  3. Maximum retail price printed on pack
  4. Cost of production plus fixed margin
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Correct answer: A. Transaction value, the price paid or payable

Section 15(1) makes the transaction value, meaning the price actually paid or payable, the default measure of taxable value.

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Transaction value applies only if the supplier and recipient are:

  1. Unrelated and price is the sole consideration
  2. Both dealing only in taxable goods
  3. Both filing returns on a monthly basis
  4. Both registered in the same State
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Correct answer: A. Unrelated and price is the sole consideration

Transaction value is valid only where the parties are not related and the price is the sole consideration for the supply.

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A subsidy given by the Central or State Government is:

  1. Not added to the value of supply
  2. Added to goods supplies only
  3. Added to the value of supply
  4. Added only if above Rs 1 lakh
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Correct answer: A. Not added to the value of supply

Only price-linked subsidies other than those from the Central and State Governments are brought into value.

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More Taxation topics

GST Time, Value, Place of Supply and Input Tax CreditAggregation of Income, Set Off of Losses and DeductionsAdvance Tax, TDS and TCSProfits and Gains of Business or ProfessionIncome-tax Basic ConceptsSalariesResidence and Scope of Total IncomeIncome from House Property