Master of Commerce

Goods & Services Tax

Max. Marks: 70 Time: 2 Hours

Section A

Choose the correct answer. Each question carries 1 mark. 1x10 = (10 Marks)

1. What are Integrated Goods and Services Tax?

a. Tax imposed on imported goods and services

b. Tax imposed on value additions to exports

c. Tax imposed on interstate trade

d. Tax on international trade.

2. The first committee to design GST model was headed by:

a. Vijay Kelkar

b. Dr. Chidambaram

c. Asim Das Gupta

d. None of the above.

3. IGST deals with:

a. Composition scheme

b. Time of supply

c. Service tax on imported services

d. All of the above.

4. Exemption from registration is available to:

a. Central & State Govt. Departments

b. Agriculturists

c. Both (a) and (b)

d. None of the above.

5. While computing compensation to states, tax revenue of this tax/ these taxes is
excluded:

a. Petroleum crude, diesel, petrol, ATF and natural gas

b. Alcohol for human consumption

c. Entertainment tax collected by local authorities

d. All of the above.

6. A person having multiple business requires registration:

a. Single

b. Each business separately

c. Either (a) or (b)

d. None of the above.

7. Compensation to states under GST (Compensation to States) Act , 2017 is paid by:

a. Central Government from consolidated fund of India

b. Central Government from GST compensation fund of India

c. Central Government directly from the collection of compensation cess

d. GST Council under Constitution of India.

8. IGST is payable when the supply is:

a. Interstate

b. Intra-UT

c. Intra-state

d. All of the above.

9. One of the following taxes is already subsumed under GST:

a. Tax on motor spirit

b. Tax on production of alcohol

c. Luxury Tax
d. Tax on electricity.

10. Zero rated supply includes supplies made:

a. By SEZ unit in India

b. To SEZ unit in India

c. Both (a) & (b)

d. None of the above.

Section B

Answer any 5 questions. Each question carries 6 marks. (6x5=30 marks)

11. What is the concept of GST?

12. What are the types of indirect taxes?
13. What are the major features of the proposed registration procedures under GST?
14. What is Bill of supply?
15. What is Payment of tax?
16. How will IT be used for the implementation of GST?
17. What is the liability for GST registration in India?
18. What is Refund Voucher?

Section C

Answer any 3 questions. Each question carries 10 marks. (3x10=30 marks)

19. Which are the cases in which registration is compulsory?

20. How will imports be taxed under GST?
21. What are the goods kept outside the purview of GST?
22. Explain the right to impose indirect taxes.