Time of Supply MCQ | 50 Free MCQs on GST
Time of Supply MCQ
1. What is time of supply of goods, in case of forward charge?
(a) Date of issue of invoice
(b) Due date of issue of invoice
(c) Date of receipt of consideration by the supplier
(d) Earlier of (a) & (b)
2. The date on which the supplier receives the payment shall be
(a) the date on which the payment is entered in his books of account
(b) the date on which the payment is credited to his bank account
(c) the date on which the payment is entered in his books of account or the date on which thepayment is credited to his bank account whichever is earlier
(d) the date on which the payment is entered in his books of account or the date on which the payment is credited to his bank account whichever is later
3. Mr. A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.
Date of removal – 1st Oct. 2019
Date of Invoice – 2nd Oct. 2019
Date when goods made available to the recipient – 3rd Oct. 2019
Date of receipt of payment – 15th Nov. 2019
(a) 1st Oct. 2019
(b) 2nd Oct. 2019
(c) 3rd Oct. 2019
(d) 15th Nov. 2019
4. Mr.A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.
Date of removal – 3rd Oct. 2019
Date of Invoice – 1st Oct. 2019
Date when goods made available to the recipient – 4th Oct. 2019
Date of receipt of payment – 25th Nov. 2019
(a) 3rd Oct. 2019
(b) 1st Oct. 2019
(c) 4th Oct. 2019
(d) 25th Nov. 2019
5. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.
Date of Invoice : 02-10-2019
Date goods made available to recipient : 03-10-2019
Date of receipt of payment : 15-11-2019
(a) Date of Invoice : 02-10-2019
(b) Date goods made available to recipient : 03-10-2019
(c) Date of receipt of payment : 15-11-2019
(d) None of the above
6. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case supply involves movement of goods.
Date of Removal of goods : 03-10-2019
Date of Invoice : 01-10-2019
Date goods made available to recipient : 04-10-2019
Date of receipt of payment : 25-11-2019
(a) Date of Removal of goods : 03-10-2019
(b) Date of Invoice : 01-10-2019
(c) Date goods made available to recipient : 04-10-2019
(d) Date of receipt of payment : 25-11-2019
7. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act, 2017 in case supply involves movement of goods.
Date of Removal of goods : 05-11-2019
Date of Invoice : 04-11-2019
Date goods made available to recipient : 06-11-2019
Date of receipt of payment : 01-10-2019
(a) Date of Removal of goods : 05-11-2019
(b) Date of Invoice : 04-11-2019
(c) Date goods made available to recipient : 06-11-2019
(d) Date of receipt of payment : 01-10-2019
8. Mr. A sold goods to Mr. B. Determine the TOS in accordance with the provisions of Section 12 of the CGST Act, 2017 in case supply does not involve movement of goods.
Date of delivery – 2nd Oct. 2019 (Date when the goods made available to the recipient)
Date of Invoice – 3rd Oct. 2019
Date of receipt of payment – 15th Nov. 2019
(a) 2nd Oct. 2019
(b) 3rd Oct. 2019
(c) 15th Nov. 2019
(d) 1st Nov. 2019
9. Determine the Time of supply in case goods are supplied on approval basis
Removal of goods : 01-12-2019
Issue of Invoice : 15-12-2019
Accepted by recipient : 05-12-2019
Receipt of payment : 25-12-2019
(a) Removal of goods : 01-12-2019
(b) Issue of Invoice : 15-12-2019
(c) Accepted by recipient : 05-12-2019
(d) Receipt of payment : 25-12-2019
10. Where the supplier of taxable goods receives an amount upto in excess of the amount indicated in the tax invoice, the time of supply to the extent of such excess amount shall, at the option of the said supplier, be the date of issue of invoice in respect of such excess amount.
(a) 1,000
(b) 5,000
(c) 10,000
(d) 50,000
| Answers: 1)Earlier of (a) & (b) 2)the date on which the payment is entered in his books of account or the date on which thepayment is credited to his bank account whichever is earlier 3)1st Oct. 2019 4)1st Oct. 2019 5)Date of Invoice : 02-10-2019 6)Date of Invoice : 01-10-2019 7)Date of Invoice : 04-11-2019 8)2nd Oct. 2019 9)Issue of Invoice : 15-12-2019 10)1,000 |
