Graded assessment Decoding the concept of supply - Part 2 Quiz Answers

Graded assessment: Decoding the concept of supply – Part 2 Quiz Answers

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Graded assessment: Decoding the concept of supply – Part 2 Quiz Answers

Question 1)
Which of the following transaction does not qualify as supply under GST law?

  • Disposal of car without consideration and the supplier has not claimed input tax credit on such car.
  • A principal makes supplies to his agent who is situated within the same state and is also registered under GST. The invoice for further supply is issued by the agent in his name.
  • Head office makes the supply of services to its own branch outside the state.
  • A person imports services without consideration for the purposes of his business from his younger daughter living outside India.

Question 2)
Which of the following transaction would qualify as ‘Supply’ under the GST law?

  • Services provided by an employee in relation to the employment
  • Stock transfer/branch transfer between two registrations of the same person (within the same state or outside)
  • Free of cost supplies to an unrelated person
  • Intra-state stock transfer where the person has obtained single registration

Question 3)
In case of import of services by a taxable person from a related person or any of his other establishment outside India, which of the following statement(s) are correct?

  • Activity shall not qualify as supply if there is no consideration
  • Activity shall qualify as supply whether or not in course or furtherance of business irrespective of consideration
  • None of the above
  • All the above

Question 4)
State whether the given statement is true or false:

In order to determine whether a particular principal-agent relationship falls within the ambit of Schedule I, the deciding factor is whether the invoice for the further supply of goods on behalf of the principal is being issued by the agent?

  • True
  • False

Question 5)
Which of the following transactions are deemed to be supply of services?

  • Renting of commercial complex
  • Renting of precincts of a religious place
  • Renting of property to an educational institution
  • All the above

Question 6)
Which of the following shall qualify as supply?

  • Services by the Hon’ble Supreme Court of India
  • Services of funeral, burial, crematorium or mortuary including transportation of the deceased
  • Services provided by employee to the employer in an employer employee relationship
  • None of the above

Question 7)
Which of the following statement(s) are correct?

  • Duties by C&AG of India is not a supply
  • Sale of warehoused goods after clearance for home consumption is Supply of services
  • High Sea sale by way of document endorsement is not a supply
  • B & C

Question 8)
Transfer of unsecured loans is: –

  • Supply of goods
  • Supply of services
  • Composite supply
  • None of the above

Question 9)
Where, by or under the direction of a person carrying on a business, goods held or used for the purposes of the business are put to any private use or are used, or made available to any person for use, for any purpose other than a purpose of the business, the usage or making available of such goods is a supply of services. State whether the given statement is true or false.

  • True
  • False

Question 10)
Services by Tax Tribunal established under any law for the time being in force shall be treated as:-

  • Supply of goods
  • Supply of services
  • Both supply of goods and supply of services
  • None of the above

Question 11)
Whether supply of services between agent and principal is covered under entry no. 3 of Schedule-I?

  • Yes
  • No

Question 12)
Which of the following are supply of services?

  • Renting of immovable property
  • Works contract as defined in clause (119) of section 2
  • Any lease or letting out of the building including a commercial, industrial or residential
  • complex for business or commerce
  • All the above

Question 13)
A transaction in securities is: –

  • Supply of goods
  • Supply of services
  • Composite supply
  • None of the above

Question 14)
Who can notify a transaction to be supply of goods or services –

  • GST Commissioner
  • Assessing Officer
  • Central or state government without any recommendation
  • Central Government or State Government, on the recommendations of the GST Council

 

Question 15)
Under which of the following circumstances XYZ Limited and ABC Limited are to be considered as related persons?

  • T Limited holds 27% of the shares of XYZ Limited and 20% of ABC Limited
  • XYZ Limited and ABC Limited indirectly control P Limited
  • A Limited directly controls XYZ Limited and ABC Limited
  • All the above

Question 16)
Under which of the following circumstances XYZ Limited and ABC Limited are to be considered as related persons?

  • T Limited holds 27% of the shares of XYZ Limited and 20% of ABC Limited
  • XYZ Limited and ABC Limited indirectly control P Limited
  • A Limited directly controls XYZ Limited and ABC Limited
  • B & C

 

Question 17)
Which of the following statement(s) are correct?

  • A Limited has total 5 registrations in different states of India under same permanent account number (PAN). These registrations are to be considered as distinct person
  • A Limited has total 5 registrations in a single state in India under same permanent account number (PAN). These registrations are to be considered as distinct person
  • Mr. A & Mr. B are legally recognized partners in business. Mr. A and Mr. B are to be considered as related party
  • All the above

Question 28)
Construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer where the entire consideration has been received after issuance of Completion Certificate or after its first occupation, whichever is earlier is to be considered as:

  • Supply of goods
  • Supply of services
  • Neither supply of goods nor supply of services
  • Composite Supply

Question 19)
Services by an employee to the employer in the course of or in relation to his employment.

Whether this transaction shall qualify as supply of service?

  • No
  • Yes

Question 20)
Which of the following transaction(s) would not qualify as ‘Supply’ under the GST law?

  • Stock transfer/branch transfer between two registrations of the same person (within the same state or outside)
  • Free of cost supplies to third party
  • Intra-state stock transfer where the person has obtained single registration
  • All the above

Question 21)
Which of the following transactions deemed to be supply of goods?

  • Renting of commercial complex
  • Renting of precincts of a religious place
  • Renting of property to an educational institution
  • None of the above

Question 22)
Treatment or process which is applied to another person’s goods is a:

  • Supply of services
  • Supply of goods
  • Partially supply of goods and partially supply of services
  • Mixed supply

Question 23)
Which of the following sentences are true?

  • Renting any immovable property wholly or partly is treated as a service
  • Renting any immovable property only wholly is treated as a service
  • Renting any immovable property only partly is treated as a service
  • Renting any immovable property only wholly is treated as a supply of goods

Question 24)
Treatment or process which is applied to another person’s goods is a:

  • Supply of services
  • Supply of goods
  • Partially supply of goods and partially supply of services
  • Mixed supply

Question 25)
Which of the following sentences are true?

  • Renting any immovable property wholly or partly is treated as a service
  • Renting any immovable property only wholly is treated as a service
  • Renting any immovable property only partly is treated as a service
  • Renting any immovable property only wholly is treated as a supply of goods

 

Question 26)
In case of transaction for supply of goods by the principal to agent where the agent makes further sale, which of the following statement(s) are correct?

  • Agent issued an invoice in the name of principal and the transaction shall fall under Schedule-I
  • Agent issued an invoice in his own name and the transaction shall fall under Schedule-I
  • Agent issued an invoice in his own name. Agent has to be compulsory registered under GST
  • B & C
  • None of the above

Question 27)
Which of the following sentences are false?

  • Permanent transfer or disposal of business asset without any consideration where input tax credit has been availed on such asset is a supply of service
  • Goods held/used for business are put to any private use or made available to any person for any purpose other than business purpose of the owner is a supply of goods
  • Motor Vehicle on which no input tax credit was availed is sold as scrap at a nominal value is supply of services
  • Employer gives a car to employee for his personal use shall qualify as supply of services

Question 28)
A transaction in securities is: –

  • Supply of goods
  • Supply of services
  • Composite supply
  • None of the above

Question 29)
Mr. X transfers title in goods to Mr. Y on hire purchase or sale on return basis. This activity shall be considered as:

  • Supply of goods
  • Supply of services
  • Both supply of goods and supply of services
  • None of the above

Question 30)
A transaction in securities is: –

  • Supply of goods
  • Supply of services
  • Composite supply
  • None of the above

Question 31)
Who can notify a transaction to be supply of goods or services –

  • GST Commissioner
  • Assessing Officer
  • Central or state government without any recommendation
  • Central Government or State Government, on the recommendations of the GST Council

 

 

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