CA Inter MCQs Indirect Tax – Time of Supply

CA Inter MCQs GST or IDT ( Indirect Tax ) – Practice CA Inter MCQs of Time of Supply

Question – 1

Shubham, a Car supplier received an advance of Rs. 2,00,000 along with purchase order on 17.07.2018 for supply of Ciaz car and the entry in the books of accounts was also made on the same date. Car is delivered to the buyer on 01.08.2018 and the invoice was raised on 02.08.2018. The balance payment of Rs. 8,00,000 was received on 05.08.2018. Determine the time of supply ?

a. For Rs. 2,00,000 – 17.07.2018 and for balance of Rs. 8,00,000 – 01.08.2018
b. 02.08.2018
c. 01.08.2018
d. None of the above

Question – 2

What shall be the time of supply of goods, in respect of supply of vouchers, where the supply is not identifiable at the point, the voucher is issued ?

a. Date of issue of voucher
b. Date of redemption of voucher
c. Expiry date of voucher
d. Earliest of the above

Question – 3

Gautam & Co. sold goods to Mr. Dhillon on 8th October, 2018 with a condition that interest @ 1.5% p.m. will be charged, if Mr. Dhillon fails to make payment within 10 days of delivery of the goods. Goods were delivered on 8th October, 2018 and the invoice was also issued on the said date. Mr. Dhillon paid the consideration for the goods on 1st November, 2018 along with interest applicable. In such a case, time of supply for the goods is ________ and the time of supply for addition in value by way of interest is _________ ?

a. 8th October, 2018, 1st November, 2018
b. 8th October, 2018, 8th October, 2018
c. 1st November, 2018, 1st November, 2018
d. 1st November, 2018, 8th October, 2018

Question – 4

What is the time limit for issue of invoice in case of continuous services ?

a. On/ before the due date of payment
b. Before/ at the time when the supplier of service receives the payment, if the due date of payment is not known
c. On/ before the date of completion of the milestone event when the payment is linked to completion of an event
d. Either (A) or (B) or (C)

Question – 5

Fashion Ltd. is engaged in supply of various taxable services like Beauty treatment services, Care taking services, etc. It issues voucher of Rs. 5,000 to Pappu on 16.08.2018. The aforesaid voucher can be redeemed within 3 months from the date of issue of such voucher in respect of any services provided by Fashion Ltd. What shall be the time of supply in the above case, if Pappu redeems the said voucher on 01.09.2018 ?

a. Date of issue of voucher
b. Date of redemption of voucher
c. Expiry date of voucher
d. Earliest of the above date

CA Inter MCQs GST or Indirect Tax

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