Ch 16 (21 to 25) – Tax By KK MCQ

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Ch 1: Constitutional aspects of GST
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Ch 2: Adjustment of credit
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Ch 3: Meaning of Goods and Services
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Ch 4: Schedule II, Composite supply and Mixed supply
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Ch 5: Definition of Person
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Ch 6: Definition of Business
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Ch 7: Consideration
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Ch 8: Scope of Supply
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Ch 9: Schedule I
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Ch 10: No Supply
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Ch 11: Levy and Collection
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Ch 12: Aggregator – 9(5)
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Ch 13: Reverse Charge on Services- 9(3)
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Ch 14: Reverse Charge on Goods – 9(3)
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Ch 15: Aggregate Turnover
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Ch 16: Composition Levy
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Ch 17: Registration
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Ch 18: Time of supply of Goods
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Ch 19: Time of supply of Services
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Ch 20: Value of Supply
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Ch 21: Input Tax Credit
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- 21-25
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- 36-40
- 41-45
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Ch 22: Tax Invoice / CN / DN
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- 41-42
Ch 23: Return
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Ch 24: Payment of Tax
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Ch 25: Exemption from supply of services
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Ch 26: E-Way Bill
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Ch 27: Schedule II
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Ch 28: Valuation Rules
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Ch 29: Job Work Procedure
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Ch 30: Examine the following statements
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- 11-15
- 16-20
Ch 31: TDS and TCS
- 1-5
- 6-10
Ch 32: GST Practitioner
- 1-5
- 6-10

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Welcome to your Ch 16: Composition Levy (21 to 25)

21. Ocain Ltd. runs a restaurant and has a aggregate turnover of ₹ 150 Lakhs from it. It also earns interest on fixed deposit of ₹ 5,00,000. Now his aggregate turnover is ₹ 1,55,00,000 which is exceeding the threshold. Can he opt for composition scheme in respect of .................................... .

a) Yes

b) No

c) Yes, subject to prior approval of the Central Government and State government

d) Yes, subject to prior approval GST council

22. XYZ Ltd. is manufacturer of goods opted for composition levy and has effected turnover of ₹ 70,00,000 during a financial year. The CGST and SGST portion of composition tax payable by XYZ Ltd. is .................................... .

a) ₹ 70,000

b) ₹ 3,50,000

c) ₹ 1,40,000

d) None of the above

23. The following suppliers cannot opt for composition scheme .................................... ,

a) Inter-State supplier of goods (Supply to SEZ and to other States)

b) Person supplying goods through an electronic commerce operator

c) Exporter of goods

d) All of the above

24. Which of the following persons cannot opt for composition scheme?

a) Manufacturer of ice-cream

b) Manufacturer of Pan-Masala

c) Manufacturer of Tobacco

d) All of the above

25. Which of the following persons cannot opt for composition scheme?

a) Manufacturer and trader of alcoholic liquor for human consumption.

b) Refiners and trader of petroleum products.

c) Manufacturer of mobile phones (₹ 50 Lakhs) and supplier of service (₹ 30 Lakhs).

d) All of the above.

Time's up

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