Team A
What is the GST rate on gold jewelry?
3%
What is the GST rate for Air conditioner goods?
28%
What are SAC codes used for in GST?
SAC (Service Accounting Code) is used to classify services under GST.
What is the maximum turnover limit for manufacturers and traders opting into the Composition Scheme?
₹1.5 crores
What is the validity period of an E-Way Bill for a distance of up to 100 km?
1 day
How many HSN digits are required for businesses with turnover above ₹5 crores?
6 digits
What is the maximum late fee for not filing GSTR-3B on time?
₹10,000 (₹5,000 for CGST and ₹5,000 for SGST)
What is the percentage of ITC claims allowable for cement and bricks used for factory/office building construction?
0%
Incase of supply of goods by a composition dealer the registered person shall issue?
A - TAX invoice
B- Bill of supply
C - Receipt Voucher
D - Any of the above
B- Bill of supply
HSN fullform?
Harmonized System of Nomenclature
Which section of the CGST Act deals with composition levy?
Section 10
what is the time of supply of service if the invoices are issued within 30 days from the day of provision of services?
A- Date of issue of invoice
B- Date of Payment receipt for the service
C- Date of provision of services
D- Earlier of A & B
D- Earlier of A & B
Which article of the Indian Constitution empowers the Parliament to make laws on GST?
Article 246A
Vaule of supply under section 15(1) is
A - Wholesale price
B - Market Price
C- MRP
D - Transaction value
D - Transaction value
What is the order of ITC set-off rules ?
1.IGST credit - IGST , CGST, SGST liability
2.CGST credit - IGST , CGST
3.SGST credit - IGST , SGST