{"id":663,"date":"2024-03-01T11:07:55","date_gmt":"2024-03-01T11:07:55","guid":{"rendered":"https:\/\/taxbykk.com\/mcq\/?p=663"},"modified":"2024-03-01T11:07:56","modified_gmt":"2024-03-01T11:07:56","slug":"ch-25-56-to-60","status":"publish","type":"post","link":"https:\/\/taxbykk.com\/mcq\/ch-25-56-to-60\/","title":{"rendered":"Ch 25 (56 to 60)"},"content":{"rendered":"<script>\n                            if (window.qmn_quiz_data === undefined) {\n                                    window.qmn_quiz_data = new Object();\n                            }\n                    <\/script><script>window.qmn_quiz_data[\"117\"] = {\"quiz_id\":\"117\",\"quiz_name\":\"Ch 25: Exemption from supply of services (56 to 60)\",\"disable_answer\":\"0\",\"ajax_show_correct\":\"0\",\"progress_bar\":\"1\",\"contact_info_location\":\"1\",\"qpages\":{\"1\":{\"id\":\"1\",\"quizID\":\"117\",\"pagekey\":\"z1q93F5J\",\"hide_prevbtn\":\"0\"}},\"skip_validation_time_expire\":\"0\",\"timer_limit_val\":0,\"disable_scroll_next_previous_click\":\"0\",\"disable_first_page\":\"0\",\"enable_result_after_timer_end\":\"0\",\"enable_quick_result_mc\":\"0\",\"end_quiz_if_wrong\":0,\"form_disable_autofill\":\"0\",\"disable_mathjax\":\"0\",\"enable_quick_correct_answer_info\":\"0\",\"quick_result_correct_answer_text\":\"Correct! You have selected correct answer.\",\"quick_result_wrong_answer_text\":\"Wrong! You have selected wrong answer.\",\"quiz_processing_message\":\"\",\"quiz_limit_choice\":\"Limit of choice is reached.\",\"not_allow_after_expired_time\":\"\",\"scheduled_time_end\":false,\"error_messages\":{\"email_error_text\":\"Not a valid e-mail address!\",\"number_error_text\":\"This field must be a number!\",\"incorrect_error_text\":\"The entered text is not correct!\",\"empty_error_text\":\"Please complete all required fields!\",\"url_error_text\":\"The entered URL is not valid!\",\"minlength_error_text\":\"Required atleast %minlength% characters.\",\"maxlength_error_text\":\"Maximum %maxlength% characters allowed.\"},\"first_page\":false}\n                    <\/script><div class='qsm-quiz-container qsm-quiz-container-117 qmn_quiz_container mlw_qmn_quiz  quiz_theme_default  '>\n\t\t\t\t\t<form name=\"quizForm117\" id=\"quizForm117\" action=\"\/mcq\/wp-json\/wp\/v2\/posts\/663\" method=\"POST\" class=\"qsm-quiz-form qmn_quiz_form mlw_quiz_form\" novalidate enctype=\"multipart\/form-data\">\n\t\t\t\t<input type=\"hidden\" name=\"qsm_hidden_questions\" id=\"qsm_hidden_questions\" value=\"\">\n\t\t\t\t<input type=\"hidden\" name=\"qsm_nonce\" id=\"qsm_nonce_117\" value=\"ff6c05da8a\">\n\t\t\t\t<input type=\"hidden\" name=\"qsm_unique_key\" id=\"qsm_unique_key_117\" value=\"69e54c45a94ed\">\n\t\t\t\t<div id=\"mlw_error_message\" class=\"qsm-error-message qmn_error_message_section\"><\/div>\n\t\t\t\t<span id=\"mlw_top_of_quiz\"><\/span>\n\t\t\t\t\t\t\t<section class=\"qsm-page \">\n\t\t\t\t\t\t\t\t<div class=\"quiz_section quiz_begin\">\n\t\t\t\t\t\t<div class='qsm-before-message mlw_qmn_message_before'>\n\t\t\t\t<p>Welcome to your Ch 25: Exemption from supply of services (56 to 60)<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"quiz_section qsm-question-wrapper question-type-0 question-section-id-566 \" data-qid=\"566\">\n\t\t\t\t\t\t<div class='mlw_qmn_new_question'>56. Examine the following statements and determine which statement is true. \u201c GTA takes truck on hire from a registered person.\u201d. <\/div>\n\t\t\t<div class='mlw_qmn_question  qsm_remove_bold' >\n\t\t<p><\/p>\n\t<\/div>\n\t\t<div class='qmn_radio_answers '>\n\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question566-1 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question566\" id=\"question566_1\" value=\"0\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question566_1\">\n\t\t\t\t\ta) It is exempt supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question566-2 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question566\" id=\"question566_2\" value=\"1\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question566_2\">\n\t\t\t\t\tb) Supplier shall issue bill of supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question566-3 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question566\" id=\"question566_3\" value=\"2\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question566_3\">\n\t\t\t\t\tc) Either (a) or (b) is true.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question566-4 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question566\" id=\"question566_4\" value=\"3\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question566_4\">\n\t\t\t\t\td) Both (a) and (b) is true.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<input type=\"radio\" style=\"display: none;\" name=\"question566\" id=\"question566_none\" checked=\"checked\" value=\"\" \/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"quiz_section qsm-question-wrapper question-type-0 question-section-id-567 \" data-qid=\"567\">\n\t\t\t\t\t\t<div class='mlw_qmn_new_question'>57. Following supply of services is ............... ? <\/div>\n\t\t\t<div class='mlw_qmn_question  qsm_remove_bold' >\n\t\t<p>i . Pure labour contract for repair work under Housing for All (Urban) Mission or Pradhan Mantri Awas Yojana or single residential unit.<br \/>ii. Electricity distribution network upto the tube well of the farmer or agriculturalist for agricultural use.<br \/>iii. Bank providing services under Prime Minister Jan Dhan Yojna or post office providing banking service.<br \/>iv. Members of Army paying life insurance premium to Army, Naval and Air Force Group Insurance Funds.<br \/>v. Personnel of Coast Guard paying life insurance premium to Naval Group Insurance Fund.<br \/>vii. Members of CRPF paying life insurance premium to Group Insurance Schemes of the concerned Central Armed Police Force.<br \/><br \/><\/p>\n\t<\/div>\n\t\t<div class='qmn_radio_answers '>\n\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question567-1 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question567\" id=\"question567_1\" value=\"0\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question567_1\">\n\t\t\t\t\ta) All are taxable supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question567-2 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question567\" id=\"question567_2\" value=\"1\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question567_2\">\n\t\t\t\t\tb) All are taxable supply except (vii) which is exempt supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question567-3 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question567\" id=\"question567_3\" value=\"2\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question567_3\">\n\t\t\t\t\tc) All are exempt supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question567-4 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question567\" id=\"question567_4\" value=\"3\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question567_4\">\n\t\t\t\t\td) All are No Supply as per Schedule III.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<input type=\"radio\" style=\"display: none;\" name=\"question567\" id=\"question567_none\" checked=\"checked\" value=\"\" \/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"quiz_section qsm-question-wrapper question-type-0 question-section-id-568 \" data-qid=\"568\">\n\t\t\t\t\t\t<div class='mlw_qmn_new_question'>58. Following supply of services is ............... ? <\/div>\n\t\t\t<div class='mlw_qmn_question  qsm_remove_bold' >\n\t\t<p>i) Premium paid for agricultural pumpset and failed well insurance;<br \/>ii) Premium paid for Coconut Palm Insurance Scheme;<br \/>iii) Premium paid for weather based Crop Insurance Scheme<br \/>iv) Premium paid under National Agricultural Insurance Scheme;<\/p>\n\t<\/div>\n\t\t<div class='qmn_radio_answers '>\n\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question568-1 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question568\" id=\"question568_1\" value=\"0\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question568_1\">\n\t\t\t\t\ta) All are taxable supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question568-2 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question568\" id=\"question568_2\" value=\"1\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question568_2\">\n\t\t\t\t\tb) All are taxable supply except (ii) which is exempt supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question568-3 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question568\" id=\"question568_3\" value=\"2\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question568_3\">\n\t\t\t\t\tc) All are exempt supply except.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question568-4 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question568\" id=\"question568_4\" value=\"3\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question568_4\">\n\t\t\t\t\td) All are No Supply as per Schedule III.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<input type=\"radio\" style=\"display: none;\" name=\"question568\" id=\"question568_none\" checked=\"checked\" value=\"\" \/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"quiz_section qsm-question-wrapper question-type-0 question-section-id-569 \" data-qid=\"569\">\n\t\t\t\t\t\t<div class='mlw_qmn_new_question'>59. Examine the following statements and determine which statement is true. \u201c Person A pays life insurance premium to ICICI Lombard for a cover of \u20b9 2,00,000. This insurance cover is approved as micro-insurance product\u201d. <\/div>\n\t\t\t<div class='mlw_qmn_question  qsm_remove_bold' >\n\t\t<p><\/p>\n\t<\/div>\n\t\t<div class='qmn_radio_answers '>\n\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question569-1 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question569\" id=\"question569_1\" value=\"0\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question569_1\">\n\t\t\t\t\ta) No GST shall be levied on insurance premium since exempt supply.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question569-2 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question569\" id=\"question569_2\" value=\"1\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question569_2\">\n\t\t\t\t\tb) No ITC can be claimed for exclusive supply of this\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question569-3 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question569\" id=\"question569_3\" value=\"2\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question569_3\">\n\t\t\t\t\tc) ICICI Lombard shall pay GST on reverse charge on the commission earned by it\u2019s agent.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question569-4 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question569\" id=\"question569_4\" value=\"3\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question569_4\">\n\t\t\t\t\td) All statements are true.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<input type=\"radio\" style=\"display: none;\" name=\"question569\" id=\"question569_none\" checked=\"checked\" value=\"\" \/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"quiz_section qsm-question-wrapper question-type-0 question-section-id-570 \" data-qid=\"570\">\n\t\t\t\t\t\t<div class='mlw_qmn_new_question'>60. Examine the following statements- <\/div>\n\t\t\t<div class='mlw_qmn_question  qsm_remove_bold' >\n\t\t<p>(i) Business correspondent provides services to a banking company with respect to accounts in urban branch.<br \/>(ii) Business correspondent provides services to a insurance company with respect to accounts in rural branch.<\/p>\n\t<\/div>\n\t\t<div class='qmn_radio_answers '>\n\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question570-1 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question570\" id=\"question570_1\" value=\"0\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question570_1\">\n\t\t\t\t\ta) Exempt; Taxable.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question570-2 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question570\" id=\"question570_2\" value=\"1\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question570_2\">\n\t\t\t\t\tb) Taxable; Exempt.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question570-3 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question570\" id=\"question570_3\" value=\"2\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question570_3\">\n\t\t\t\t\tc) Both Exempt.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"qmn_mc_answer_wrap  mrq_checkbox_class\" id=\"question570-4 \">\n\t\t\t\t\t\t\t\t\t\t\t<input type='radio' class='qmn_quiz_radio qmn-multiple-choice-input' name=\"question570\" id=\"question570_4\" value=\"3\" \/>\n\t\t\t\t\t<label class=\"qsm-input-label\" for=\"question570_4\">\n\t\t\t\t\td) Both Taxable.\t\t\t\t\t<\/label>\n\t\t\t\t\t \t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<input 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