{"id":17857,"date":"2022-04-14T14:44:22","date_gmt":"2022-04-14T09:14:22","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=17857"},"modified":"2025-01-04T13:00:36","modified_gmt":"2025-01-04T07:30:36","slug":"levy-and-collection-of-taxes-mcq","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/levy-and-collection-of-taxes-mcq\/","title":{"rendered":"Levy and Collection of Taxes MCQ | 20 Free MCQs"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-text-align-center\">Levy and Collection of Taxes MCQ<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/04\/Levy-and-Collection-of-Taxes-MCQ-1024x576.webp\" alt=\"Levy and Collection of Taxes MCQ\" class=\"wp-image-17962 lazyload\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;width:720px;height:auto\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/04\/Levy-and-Collection-of-Taxes-MCQ-1024x576.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/04\/Levy-and-Collection-of-Taxes-MCQ-300x169.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/04\/Levy-and-Collection-of-Taxes-MCQ-768x432.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/04\/Levy-and-Collection-of-Taxes-MCQ-1536x864.webp 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/04\/Levy-and-Collection-of-Taxes-MCQ.webp 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><figcaption class=\"wp-element-caption\">Levy and Collection of Taxes MCQ<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/business-economics-mcq\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/business-economics-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/income-tax-mcq\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/income-tax-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>MCQs on other topics of Taxation<\/strong><\/a><\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/www.icsi.edu\/media\/webmodules\/modelquestionpaper\/CMA-MCQ%20100.pdf\" data-type=\"URL\" data-id=\"https:\/\/www.icsi.edu\/media\/webmodules\/modelquestionpaper\/CMA-MCQ%20100.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Cost Accounting MCQs pdf<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>1. What are the taxes levied on an intra-state supply?<br><\/strong>(a) CGST <br>(b) SGST<br>(c) CGST and SGST <br>(d) IGST<\/p>\n\n\n\n<p><strong>2. What is the maximum rate prescribed under CGST Act?<br><\/strong>(a) 12% <br>(b) 28%<br>(c) 20% <br>(d) 18%<\/p>\n\n\n\n<p><strong>3. Who will notify the rate of tax to be levied under CGST Act?<br><\/strong>(a) Central Government suo moto<br>(b) State Government suo moto<br>(c) GST Council suo moto<br>(d) Central Government as per the recommendations of the GST Council<\/p>\n\n\n\n<p><strong>4. Which of the following taxes will be levied on imports?<br><\/strong>(a) CGST <br>(b) SGST<br>(c) IGST <br>(d) CGST and SGST<\/p>\n\n\n\n<p><strong>5. What is the maximum rate prescribed under UTGST Act?<br><\/strong>(a) 14% <br>(b) 28%<br>(c) 20% <br>(d) 30%<\/p>\n\n\n\n<p><strong>6. Supply shall attract IGST?<br><\/strong>(a) Intra-State <br>(b) Inter-State<br>(c) Both<\/p>\n\n\n\n<p><strong>7. Is there any ceiling limit prescribed on the rate under IGST?<br><\/strong>(a) 14% <br>(b) 40%<br>(c) 26% <br>(d) 30%<\/p>\n\n\n\n<p><strong>8. What if an e-commerce operator having no physical presence in the taxable territory, does not have a representative in the taxable territory?<br><\/strong>(a) His will have to discharge his tax liability in foreign currency<br>(b) He will not be liable to tax<br>(c) He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf<br>(d) None of the above<\/p>\n\n\n\n<p><strong>9. Unless and until notified, IGST shall not be levied on the inter-State supply of which of the following:<br><\/strong>(a) Industrial alcohol <br>(b) Works contract<br>(c) Petroleum <br>(d) None of the above<\/p>\n\n\n\n<p><strong>10. What are the supplies on which reverse charge mechanism would apply at present?<br><\/strong>(a) Notified categories of goods or services or both under section 9(3)<br>(b) Inward supply of goods or services or both from an unregistered dealer under section 9(4)<br>(c) Both the above<br>(d) None of the above<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">1)CGST and SGST<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">2)20%<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">3)Central Government as per the recommendations of the GST Council<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">4)IGST<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">5)20%  6)Inter-State<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">7)40%<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">8)He has to appoint a person in the taxable territory for the purpose of paying tax on his behalf<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">9)Petroleum<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">10)Notified categories of goods or services or both under section 9(3)<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>11. Which of the following services are covered under Reverse Charge Mechanism of CGST Act,2017?<br><\/strong>(i) Legal Consultancy <br>(ii) Goods Transport Agency<br>(iii) Manpower Supply <br>(iv) Rent-a-Cab<br>(a) i &amp; iii <br>(b) i &amp; iv<br>(c) i &amp; ii <br>(d) All the above<\/p>\n\n\n\n<p><strong>12. In case of sponsorship services provided by Mr. A to M\/s AB Ltd., liability to pay GST is on:<br><\/strong>(a) Mr. A <br>(b) M\/s AB Ltd.<br>(c) Both <br>(d) None of the above<\/p>\n\n\n\n<p><strong>13. In case of renting of land, inside an Industrial estate, by State Government to a registered manufacturing company, GST is:<br><\/strong>(a) Exempted <br>(b) Applicable under Normal Charge<br>(c) Applicable under Reverse Charge <br>(d) None of the above<\/p>\n\n\n\n<p><strong>14. In case of services by an insurance agent to Ms. ABC Insurance Co. Ltd., GST is to be paid by:<br><\/strong>(a) Insurance Agent <br>(b) ABC Insurance Co. Ltd.<br>(c) Both <br>(d) None of the above<\/p>\n\n\n\n<p><strong>15. Sitting fees received by director of XYZ Ltd., is liable for GST in the hands of the<br><\/strong>(a) Director <br>(b) XYZ Ltd.<br>(c) Both of above <br>(d) None of the above<\/p>\n\n\n\n<p><strong>16. Services by a recovery agent to M\/s ZZZ Bank Ltd., are liable for GST in the hands of:<br><\/strong>(a) M\/s ZZZ Bank Ltd. <br>(b) Recovery agent<br>(c) Both the above <br>(d) None of the above<\/p>\n\n\n\n<p><strong>17. In case of lottery procured from State Government by a lottery distributor, GST is payable by:<br><\/strong>(a) Lottery distributor <br>(b) State Government<br>(c) Both the above <br>(d) None of the above<\/p>\n\n\n\n<p><strong>18. Reverse charge under section 9(3) of the CGST Act is applicable:<br><\/strong>(a) Only on notified services <br>(b) Only on notified goods<br>(c) On Notified goods &amp; services <br>(d) On None of the above<\/p>\n\n\n\n<p><strong>19. If Tobacco leaves procured from an Agriculturist by a registered person, then:<br><\/strong>(a) Reverse charge is applicable <br>(b) Normal charge is applicable<br>(c) Joint charge is applicable <br>(d) None of the above<\/p>\n\n\n\n<p><strong>20. In case M\/s. PQR Ltd., a registered person, has availed rent-a-cab service from M\/s ABC Travels (Proprietor) service then which one of the following is true:<br><\/strong>(a) Reverse charge is applicable as this is a notified service<br>(b) Reverse charge is applicable if ABC Travels is not registered<br>(c) Joint charge is applicable<br>(d) None of the above<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">11)i &amp; ii<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">12)M\/s AB Ltd.<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">13)Applicable under Reverse Charge<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">14)Supply of services<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">15)Supply of services<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">16)Supply of services<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">17)Lottery distributor<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">18)On Notified goods &amp; services<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">19)Reverse charge is applicable<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">20)Reverse charge is applicable if ABC Travels is not registered<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>21. Reverse charge is applicable:<br><\/strong>(a) Only on intra-State supplies <br>(b) Only on inter-State supplies<br>(c) Both intra-State and inter-State supplies <br>(d) None of the above<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">21)Both intra-State and inter-State supplies<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":17962,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,7,1],"tags":[4821],"class_list":["post-17857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bcom","category-degree-college","category-misc","tag-levy-and-collection-of-taxes-mcq"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/17857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=17857"}],"version-history":[{"count":3,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/17857\/revisions"}],"predecessor-version":[{"id":36337,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/17857\/revisions\/36337"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/17962"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=17857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=17857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=17857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}