Time of Supply MCQ | 50 Free MCQs on GST

11. The time of supply to the extent it relates to an addition in the value of supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on which
(a) The supplier receives such addition in value
(b) The original invoice was issued
(c) The supplier issues revised invoice
(d) The original payment was received

12. Tax invoice must be issued by on supplies made by him.
(a) Every supplier
(b) Every taxable person
(c) Every Registered person not paying tax under composition scheme
(d) All the above

13. An invoice must be issued
(a) At the time of removal of goods
(b) On transfer of risks and rewards of the goods to the recipient
(c) On receipt of payment for the supply
(d) None of the above

14. In case of goods sent on sale on approval basis, invoice has to be issued
(a) While sending the goods; another Invoice has to be issued by the recipient while rejecting the goods
(b) When the recipient accepts the goods or ten months from the date of supply whichever is earlier
(c) When the recipient accepts the goods or six months from the date of supply whichever is earlier
(d) When the recipient accepts the goods or three months from the date of supply whichever isearlier

15. Where the goods being sent or taken on approval for sale or return are removed before the supply takes place, the invoice shall be issued
(a) before/at the time of supply
(b) 6 months from the date of removal
(c) earlier of (a) or (b)
(d) none of the above

16. GST a dealer has sent some goods to CST, another dealer, for Sales on Approval Basis. In absence of any confirmation even after 6 months, it will be treated as
(a) Sales Return
(b) Deemed Supply of Goods
(c) Purchase return
(d) None of the Above

17. What is time of supply of goods liable to tax under reverse charge mechanism?
(a) Date of receipt of goods
(b) Date on which the payment is made
(c) Date immediately following 30 days from the date of issue of invoice by the supplier
(d) Earlier of (a) or (b) or (c)

18. Determine the Time of supply in accordance with provisions of Section 12 of the CGST Act,2017 in case recipient of goods is liable to pay tax under reverse charge mechanism.
Date of Invoice : 01-10-2019
Date of receipt of goods : 15-10-2019
Date of payment in books : 10-10-2019
Date of debit of payment in Bank A/c : 12-10-2019
(a) Date of Invoice : 01-10-2019
(b) Date of receipt of goods : 15-10-2019
(c) Date of payment in books : 10-10-2019
(d) Date of debit of payment in Bank A/c : 12-10-2019

19. What is the time of supply of vouchers when the supply with respect to the voucher is identifiable?
(a) Date of issue of voucher
(b) Date of redemption of voucher
(c) Earlier of (a) and (b)
(d) (a) and (b) whichever is later

20. What is the time of supply of vouchers when the supply with respect to the voucher is not identifiable?
(a) Date of issue of voucher
(b) Date of redemption of voucher
(c) Earlier of (a) and (b)
(d) (a) and (b) whichever is later

Answers: 11)The supplier receives such addition in value 12)Every Registered person not paying tax under composition scheme 13)At the time of removal of goods 14)When the recipient accepts the goods or six months from the date of supply whichever is earlier 15)earlier of (a) or (b) 16)Deemed Supply of Goods 17)Earlier of (a) or (b) or (c) 18)Date of Invoice : 01-10-2019 19)Date of issue of voucher 20)Date of redemption of voucher