| Post Name | Divisional Accounts Officer Paper IV - Kerala State Electricity Board Ltd |
|---|---|
| Question Paper Code | 121/2025/OL |
| Category Code | 192/2024 |
| Date of Test | 31 October 2025 |
| Exam Type | Online Examination |
| Total Questions | 100 |
1
Parliament has the power to levy tax on income other than
Answer
B. Agricultural income
2
The basic source of income tax law is
Answer
A. Income tax Act 1961
3
As per section 2(7) ''Assessee'' means
Answer
D. All the above
4
As per section 2(24) deļ¬nition of income is
Answer
A. Inclusive
5
Assessment year is the period of 12 month commencing on 1st day of
Answer
A. April every year
6
Which of the following income is not included in the term 'income'?
Answer
D. Reimbursement of travelling expenses
7
Total (taxable) income means aggregate of incomes under all head of income
Answer
A. After claiming deduction under Sec VI A
8
________ paid by Government of India to a citizen of India for rendering service outside India is exempt under section 10(7).
Answer
B. Allowances and perquisites
9
Tax paid by the employer on non monetary perquisites provided to the employee is exempt under section ______.
Answer
C. 10(10CC)
10
Any sum received by an individual as a member of HUF from the income of HUF shall be
Answer
B. Fully exempt under section 10(2)
11
What is not included in taxable income?
Answer
C. Capital receipt, except gains or transfer of capital asset
12
Highest administrative authority for income tax in India is
Answer
B. CBDT
13
"Previous year" means ________
Answer
B. Financial year immediately before assessment year
14
Income of a discontinued business is assessed __________.
Answer
A. Same year
15
Non-resident shipping business income is taxed __________
Answer
B. In the same year of earning
16
Residential status of an individual depends on ________.
Answer
C. Number of days stayed in India
17
Indian citizen leaving India for employment abroad will be resident only if ____________
Answer
B. Stayed 182 days or more in India in the PY
18
An individual will be treated as Resident but Not Ordinarily Resident (RNOR) if he is resident in the current year and
Answer
C. Either 1 or 2
19
Dividend from Indian company is taxable in India ___________
Answer
C. Even if declared and received outside India
20
Salary payable by Government of India to a citizen for service outside India ____________.
Answer
A. Deemed to accrue in India
21
A pensioner, who is Resident and Ordinarily Resident (ROR) in India, receives pension from a foreign employer abroad for services rendered abroad. The pension is __________
Answer
A. Taxable in India
22
Arrears of salary are taxed __________.
Answer
D. In year of receipt
23
For HUF, residential status is based on _________.
Answer
C. Place of control and management of aļ¬airs
24
The amount of income tax refund is _________ and interest received on excess income tax refund is ________.
Answer
A. Non-taxable, Taxable
25
Which of the following statement are correct? i. A person granting lease for a Parking lot for business purposes should collect TCS. ii. A seller selling a motor vehicle not exceeding Rs. 10 lakh should not collect TCS. iii. In the case of overseas tour program packages, the seller collecting money from the customers resident in India is not required to collect TCS when the total amount is less than Rs. 10 lakh.
Answer
A. i and ii are correct
26
Income from sub-letting of a house property is taxable under ________.
Answer
C. Income from other sources
27
Which of the following statements are correct? i. The uncommuted Pension received by a Government employee is taxable. ii. The commuted pension of non-Government employees receiving gratuity is fully taxable. iii. The commuted pension received by an employee of a local authority is exempt from taxation. iv. The commuted pension of non-Government employees not receiving gratuity is fully exempted.
Answer
C. i and iii are correct
28
Self-employed Individuals are eligible for ________.
Answer
A. Deduction under Section 80 GG
29
The person who can't claim refund is _________.
Answer
C. The person whose income is included in the income of another person
30
Advance tax is payable on ________.
Answer
B. Current income
31
Transportation allowances of a person who is blind is _________ and an employee of a transport business is _________.
Answer
D. qualiļ¬ed for tax exemption along with standard deduction
32
Which of the following is/are depreciable asset?
Answer
B. Assets of Printing and Pubishing business
33
When a capital asset is converted into stock-in-trade, the capital gain is chargeable to tax in the year ________.
Answer
D. in which the stock-in-trade is sold
34
If a residential house is purchased by a wife from her husband, exemption under Section 54 is _________.
Answer
D. allowed because the relationship between the buyer and seller is not relevant if the transaction is authentic
35
Which of the following tables is correct with respect to new tax regime?
Answer
C. Section 87 A - Allowed Section 80 GGC - Not allowed Section 89 - Allowed Section 10 (10) - Available
36
Under S. 226 (2), recovery from the debtor of the assessee can be made by ________.
Answer
B. Assessing Oļ¬cer by issuing notice to the third party
37
Which case did the Supreme Court recognize that Colourable devices cannot be part of tax planning?
Answer
A. McDowell and Co. Ltd. v. CTO
38
Commission received by a partner from the partnership is charged under the head ________.
Answer
B. Proļ¬ts and Gains of Business or Profession
39
For computing capital gains on transfer of goodwill of a business acquired by purchase. Cost of acquisition shall be ________.
Answer
D. Actual cost to the assessee
40
According to Mrs. Shiela Kaushish v. CIT, which of the following is not a correct principle for the annual value of the property where rent-control legislation applies?
Answer
B. Actual rent received is always the annual value
41
Which one of the following Taxes has not been subsumed when Goods and Services Tax was introduced in India during 2017?
Answer
B. Central Customs Tax
42
GST Council is formed under which Article of the Indian Constitution?
Answer
C. Article 279 A
43
Which of the following statement is/are correct about GST levy in India? 1. Central GST (CGST) part and State GST (SGST) part one divided by Centre and State in 60% and 40% proportion. 2. Central Finance Commission decide the devolution of State GST (SGST) collection to states. 3. Decision from GST Council is needed for levying cess by the State Government
Answer
D. only 3 is correct
44
Which one of the goods are outside the scope of leviability of GST in India?
Answer
C. Liquour for human consumption
45
See the following statements. Select the correct answer then: 1. E-commerce operators have to take mandatory registration under GST in India. 2. E Commerce operator has to deduct TDS and has to ļ¬le Form GSTR - 07.
Answer
A. 1 is correct and 2 is in correct
46
Where the recipient of goods and services is liable to pay GST instead of the supplier is called ____________ mechanism.
Answer
B. Reverse charge
47
A trader, who has opted GST composition - Scheme has to issue ____________ to a customer after a supply.
Answer
D. A Bill of supply
48
See the following statements, and select the correct answer: 1. 'Works contract' is not deļ¬ned under the 'Central GST Act 2017'. 2. Works contract is a supply of service.
Answer
C. 1 is incorrect, 2 is correct
49
See the following statements, and select the correct answer: 1. Central GST Law and State GST Law provides a system of 'Advance Ruling' for Tax payers. 2. 'Advance Ruling' is a method of prosecution under Central and State GST laws.
Answer
A. 1 is correct, 2 is incorrect explanation
50
Which one of the following is the format of Annual Return under the Central and State GST laws?
Answer
C. Form GSTR - 09
51
Commissioner of State GST Department has the power to issue 'Arrest warrant' against a Tax payer, if on investigation, GST evaded found to be above ____________ crores.
Answer
B. 5 crores
52
Which one is not a mandatory condition for availing 'GST input Tax credit' under the Central and State GST laws?
Answer
C. Recipient has to consume the goods or services
53
Select the correct statement regarding GST Law from the following:
Answer
D. GST is imposed on 'transaction value of supply of goods or services
54
Which state not have a threshold limit of Rs. 10 lakh for registration under the GST Act for businesses supplying goods and/or services?
Answer
Question Cancelled
55
Who among the following is not required to obtain registration under the GST Act?
Answer
D. Both 1 and 2
56
Mr. P is a supplier of exempted goods based out of Delhi and procure raw material from Kerala. This supplier from Kerala insists that he have to be registered in Delhi for procurement of Inter-State goods. Which is correct with respect to the statement?
Answer
B. He need not get registered in Delhi
57
A ___________ supply comprising two or more supplies, one of which is principal supply, shall be treated as a supply of such principal supply.
Answer
A. Composite
58
The books, accounts and other records of a business are to be maintained at ____________.
Answer
B. Principal place of business mentioned in the Registration Certiļ¬cate
59
___________ used to identify, classify, measure and determine the GST applicable to services in India.
Answer
A. SAC
60
In the case of a 'job work' transaction, what is the time limit which inputs goods (other than capital goods) should return to Principal?
Answer
A. One year
61
The activity of bus body building is a __________ supply.
Answer
C. Composite
62
Read the Paragraph and answer the below question: (Question 62 and 63) Mr. X in Gujarat gets an order from R. Y in West Bengal on 18th March 2024 for supply of refrigerators. Mr. X dispatches the goods from his premises to his transporter's premises on 20th March 2024. The transporter initiates the transportation on 22nd March 2024 and the goods ļ¬nally reach the premises of Mr. Y on 26th March 2024. The removal of goods, as per the GST provisions, will be considered to have occurred on _________
Answer
B. 20th March 2024
63
The last date to issue of invoice will be ________
Answer
C. 20th March 2024
64
Activities or transactions which shall be treated neither as a supply of goods nor a supply of services is mentioned in ___________
Answer
C. Schedule III
65
A registered person shall be eligible to opt' composition scheme' under GST only if I. He is not engaged in making any supply of goods [or] services through an electronic commerce operator II. He is not a manufacturer of such goods as may be notiļ¬ed by the Government on the recommendations of the GST Council. III. He is not engaged in making any inter-state outward supplies of goods or services. IV. He is engaged in making any supply of goods or services which are not leviable to tax under this Act. Indicate correct answer with respect to the above
Answer
C. I, II and III only
66
Which of the following is not a condition for treating a supply as an import of services under the IGST Act, 2017?
Answer
D. The payment for the service should be made in Dollars
67
What is the Time of supply of goods under GST?
Answer
D. The earlier of 1 and 2
68
Under the CGST Rules, what is the time limit for issuing a tax invoice for taxable services (forward charge) by a supplier other than an insurer, a banking company, or a ļ¬nancial institution?
Answer
B. Within 30 days from the date of supply of service
69
Mr. X sent goods to Mr. Y on a sale on approval or return basis on 20th April 2024. The supply was conļ¬rmed and the invoice was issued on 5th November 2024 and Mr. Y made the payment on 23rd November 2024. Which of the following is the time of supply?
Answer
D. None of the above
70
Which of the following is/are included in the value of supply under Goods and Services Tax (GST)? i. Any non-GST taxes, duties, cesses, fees charged separately by the supplier. ii. Interest, late fee or penalty for delayed payment of any consideration for any supply. iii. Subsidies directly linked to the price, except subsidies provided by the Central and State Governments.
Answer
C. All of the above i, ii and iii
71
Rule 30 of the CGST Rules inter alia provides value of supply of goods or services or both based on cost shall be ____________% of cost of production or manufacture or the cost of acquisition of such goods or the cost of provision of such services.
Answer
C. 110
72
The value of supply of goods and services shall be
Answer
A. Transaction value
73
What is the maximum rate of tax under CGST Act?
Answer
D. 20%
74
The deļ¬nition of goods under section 2(52) of the CGST Act does not include
Answer
B. Money and securities
75
As per Section 9(1) and 9(2) of the CGST Act, which of the following is/are currently kept outside the purview of GST? i. Alcoholic Liquor for human consumption. ii. Lotteries, Betting and Gambling. iii. Petroleum crude, Motor spirits (Petrol), High-speed diesel oil. iv. Tobacco and Tobacco Products v. Natural gas and Aviation turbine fuel
Answer
B. Only i, iii and v
76
An exempted supply includes:
Answer
D. All of the above
77
Which type(s) of GST are applied on inter-state transactions? i. CGST ii. SGST iii. IGST iv. UTGST
Answer
C. Only iii
78
Which tax(es) is/are levied in cases of import of goods under GST Act?
Answer
A. IGST only
79
From the following information compute the net GST payable for the month of December 2024 i. Gross Liability Payable 1. CGST Rs. 5,000/- 2. SGST Rs, 5,000/- 3. IGST Nil ii. Operating Input tax credit as per Credit Ledger 1. CGST Rs. 10,000/- 2. SGST Nil 3. IGST Rs. 1,000/- State the correct answer from the options given belwo:
Answer
A. Rs. 4,000/-
80
Sitting fee received by the director of the X ltd., who is liable to pay GST?
Answer
B. X Ltd
81
Aggregate turnover does not include
Answer
A. Inward supplies on which tax is payable on reverse charge basis
82
Under the Revenue Charge Mechanism, who is liable to remit GST to the Government?
Answer
D. Recipient is liable to remit GST instead of the supplier
83
What is the GST liability on supply of goods worth Rs. 1,00,0000 inclusive of 18% tax?
Answer
Question Cancelled
84
If the outward tax liability of a registered person is Rs. 1,50,000 and the Input Tax Credit (ITC) available is Rs. 1,10,000, what will be the net tax payable?
Answer
A. Rs. 40,000
85
Examine the following statements about the legal status of diļ¬erent business establishments under GST. Statement I: A company with a head oļ¬ce in Gujarat and a branch oļ¬ce in Kerala must obtain separate registrations, and these two establishments will be treated as establishments of distinct persons. Statement II: A Special Economic Zone (SEZ) developer must obtain a separate registration for in SEZ unit, distinct from its other places of business located outside the SEZ in the same State.
Answer
A. Both Statement I and Statement II are true
86
A registered person ļ¬led their annual return for the ļ¬nancial year 2023-24 on the due date, which was 31st December 2024. Subsequently, they became a party to an appeal before the Appellate Tribunal. The appeal was ļ¬nally disposed of on 15th January 2029. According to Section 36 of the CGST Act, 2017, until what date must this person retain the books of account and records for the ļ¬nancial year 2023-24?
Answer
C. 15th January 2030
87
Consider the following statements regarding the utilisation of Input Tax Credit (ITC) from the electronic credit ledger under Section 49(5) of the CGST Act: I. ITC of integrated Tax (IGST) must ļ¬rst be utilised for the payment of IGST. II. ITC of Central Tax (CGST) can be utilised for the payment of State Tax (SGST) after the payment of CGST and IGST liabilities. III. ITC of State Tax (SGST) can be utilised for the payment of IGST only if the balance of CGST ITC is not available for IGST payment. IV. The amount of CGST ITC cannot be utilised for the payment of SGST or Union Territory Tax (UTGST) Which of the above Statements are correct?
Answer
B. I, III and IV only
88
What is the "relevant date" for determining the two-year time limit for a refund application in the case of services exported out of India where the invoice was issued on April 10 and payment is convertible foreign exchange was received on June 20 of the same year?
Answer
C. The date of receipt of payment in convertible foreign exchange
89
Consider the following statements regarding Provisional Assessment under Section 60: Statement I: A taxable person can request provisional assessment only when they are unable to determine the value of goods or services, but not when the rate of tax is indeterminable. Statement II: The proper oļ¬cer must pass the order allowing provisional assessment within 90 days from the date of the request. Statement III: Execution of a bond is a mandatory precondition for the payment of tax on a provisional basis. Which of the above statement is/are correct?
Answer
B. Only Statement II and III
90
Consider the following statements regarding Tax Deduction at Source under Section 51 of CGST Act 2017 and identify the correct one(s): I. The tax is to be deducted at a rate of one percent from the payment made or credited to the supplier of taxable goods or services or both. II. For calculating the TDS liability, the "value of supply" is inclusive of all central, state, union territory and integrated taxes and cess indicated in the invoice. III. The provision for TDS does not apply if the place of supply is in a diļ¬erent State or Union territory than the location of the supplier, even if both are in the same state as the recipient's registration.
Answer
C. I and III
91
A registered person with the same PAN has multiple business verticals registered separately under GST. One of the verticals is engaged in inter-state outward supplies of goods, while another deals exclusively in intra-state supplies with a turnover below the prescribed limit., Which of the following statements is correct regarding the eligibility for the composition scheme under Section 10(1)?
Answer
B. None of the registered persons under that PAN are eligible to opt for the composition scheme
92
A registered person receives an invoice date 15th February 2024. The goods are delivered in three instalments, with the last instalment received on 10th March 2024. As per the proviso to Section 16(2). Which statement is true?
Answer
C. The person is entitled to take the full ITC only after receiving the last instalment in March 2024
93
With respect to the calculation and implications of 'consignment value' under the e-way bill rules, which statement is Incorrect?
Answer
C. If an invoice contains both exempt and taxable supplies, the value of the exempt supply is included in the consignment value
94
A registered person receives a notice for an audit under Section 65 on 1st October. The notice states that the audit will begin on 15th October. However, the registered person makes the required documents available to the tax authorities only on 25th October. When does the three-month period for audit completion begin?
Answer
C. 25th October
95
A Principal, a registered person under GST, sends capital goods (other than moulds, dies, jigs and ļ¬xtures) to a job worker on 15th March 2022. The Principal does not receive the goods back within the initially prescribed time limit. Upon showing suļ¬cient cause, the Commissioner extends the period to the maximum possible limit. If the goods are still not returned or supplied from the job worker's premises by the end of this extended period, on what date will the supply be deemed to have been made by the Principal to the job worker?
Answer
C. 15th March 2022
96
Goods in transit are detained under Section 129 because of a contravention of GST provisions. The owner of the goods comes forward to pay the penalty. What is the amount of penalty payable for the release of goods?
Answer
B. 200% of the tax payable on the goods
97
For a newly registered person, what is the time limit for issuing a revised invoice against invoices already issued between the eļ¬ective date of registration and the date of issuance of the registration certiļ¬cate?
Answer
B. Within one month from the date of issuance of the certiļ¬cate of registration
98
As per the proviso to Section 37(3), what is the latest date by which a registered person can rectify an error or omission in the details of outward supplies (Form GSTR 1) furnished for a ļ¬nancial year?
Answer
B. The thirtieth day of November following the end of the ļ¬nancial year to which the details pertain, or the date of furnishing the relevant annual return, whichever is earlier
99
Evaluate the following statements regarding the procedure fro registration under Section 25 of the CGST Act and choose the correct option: Statement I: A non-resident taxable person must apply for registration at least ļ¬ve days before commencing business in India. Statement II: A person having multiple places of business in a single state can obtain a single registration for all of them, but obtaining separate registrations for each place of business is not permitted.
Answer
B. Statement I is true and Statement II is false
100
Consider the following registered persons under the CGST Act: 1. An Input Service Distributor 2. A person deducting tax at source under section 51 3. A department of a State Government audited by the C & AG 4. A casual taxable person Which of the above are exempted or excluded from the requirement of furnishing an annual return as per Section 44?
Answer
D. 1, 2, 3 and 4
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