Ch 22 (26 to 30) – Tax By KK MCQ

Welcome to your Ch 22: Tax Invoice / CN / DN (26 to 30)

26. The impact of the issuance of a debit note by a supplier in his value of supplies will:

a) Be decrease

b) Be an increase

c) Be of no Impact

d) any of the above subject to the nature of the Debit Note Issued

27. The impact of the issuance of a Credit Note by a Supplier in his value of supplies will be :

a) A decrease

b) An increase

c) No impact

d) Any of the above subject to the nature of the Debit Note Issue

28. Suppose, one dealer issued a tax invoice showing more taxable value or charging more tax than the actual such values. What is the rem

a) To issue a Credit Note for the excess taxable value/ tax on or before 30th September or the date of the filing of the Annual Return whichever is earlier b) To issue a Debit Note for the ex

b) To issue a Debit Note for the excess taxable value/ tax on or before 30th September or the date of the filing of the Annual Return whichever is later

c) To issue a Credit Note for the excess taxable value/ tax within 30 days of such detection

d) To issue a Debit Note for the excess taxable value/ tax within 30 days of such detection

29. Suppose, one dealer issued a tax invoice showing less taxable value or charging less tax than the actual such values. What is the remedy?

a) To issue a Credit Note for the excess taxable value/ tax on or before 30th September or the date of the filing of the Annual Return whichever is later

b) To issue a Debit Note for the excess taxable value/ tax on or before 30th September or the date of the filing of the Annual Return whichever is earl

c) To issue a debit note at any time.

d) To issue a Debit Note for the excess taxable value/ tax within 30 days of such detection

30. A registered person shall, on receipt of advance payment with respect to any supply of goods or services or both, issue a evidencing receipt of such payment.

a) Credit note

b) Debit note

c) Receipt voucher

d) Payment voucher