GST QUESTION BANK

i. CPIN stands for ________.

ii. The Challan Identification Number is ________ digit.
iii. Electronic cash ledger is maintained on/by _____.
iv. All GST returns are filed online. These can be filed using the
method:______.
v. A person paying tax under composition scheme is required to file
the annual return in ___.

i. Electronic Liability register

ii. ii) Electronic credit register
iii. iii) BRN
iv. iv) TCS
v. v) Penalty
vi. vi) Common portal
vii. vii) Zero rate supply.

i. Mr. Ajay a registered supplier of goods pays GST under regular

scheme and provides the following information for the month of
August 2017.
Particular Rs.
i) Inter State taxable supply of goods 10,00,000
ii) Intra –taxable supply goods 200,000
iii) Intra-state purchase of taxable of 5,00,000
goods
He has the following input tax credit at the beginning of August
2017.
Nature ITC Amounts in Rs.
CGST 20,000
SGST 30,000
IGST 25,000
Rate of CGST, SGST and IGST are 9%, 9% and 18% respectively.
Both inward and outward supplies are exclusive of taxes wherever
applicable. All the conditions necessary for availing the ITC Have
been fulfilled. Compute the net GST Payable by Mr. Ajay for the
month of August 2017.

ii. Mr. Thiraj, a registered supplier of service in Bangalore(Karnataka

state) has provided the following information for the month of
February 2018.
Particulars Rs.
i) Intra – state supply of service 5,20,000
ii) Legal fees paid to a lawyer located 20,000
within the state
iii) Rent paid to the state government for his 30,000
office building
iv) Received for services towards conduct 16,000
of exams to low all university,
 Pune( Recognized by law), beginning an
interstate transactions
Compute the Net GST Liabilities(CGST,SGST Or IGST) of Mr.
Thiraj for the month of February 2018.
Rate of CGST, SGST, and IGST are 9%,9% and 18% respectively.
All the amount given above are exclusive of taxes.

iii. Explain Electronic Liability register.

i. he blanks
ii. i) CIN stands for ________.
iii. ii) BRN stands for _______.
iv. iii) Electronic cash ledger is maintained on/by _____.
v. iv) All GST returns are filed online. These can be filed using the
method:______.

i. Electronic Liability register

ii. Common portal
iii. electronic credit register
iv. Zero rate supply.
v. BRN iv) TCS
vi. TCS
vii. Penalty

i. Mr. Ajay a registered supplier of goods pays GST under regular scheme
and provides the following information for the month of August 2017.
Particular Rs.
iv) Inter State taxable supply of goods 10,00,000
v) Intra –taxable supply goods 200,000
vi) Intra-state purchase of taxable of goods 5,00,000
He has the following input tax credit at the beginning of August 2017.
Nature ITC Amounts in Rs.
CGST 20,000
SGST 30,000
IGST 25,000
Rate of CGST, SGST and IGST are 9%, 9% and 18% respectively. Both
inward and outward supplies are exclusive of taxes wherever applicable.
All the conditions necessary for availing the ITC Have been fulfilled.
Compute the net GST Payable by Mr. Ajay for the month of August 2017.

ii. From the following information, compute the NET GST payable for the
month has to be paid in cash.
Particulars Output GST Opening ITC As
per Credit
Ledger
CGST 2,000 NIL
SGST 15,000 1,000
 IGST 24,000 37,000

iii. Explain Electronic cash Register

COST ACCOUNTING QUESTION BANK

i. Capital Budget is prepare for long period of time.

ii. Cash Budget shows budgeted receipts and payment.
iii Production cost shows budgeted cost of production.
.
iv. Flexible budget is useful for control of performance.
v. Budget defines responsibility of a concerned manager.

i. What is budget center?

ii. What is sales budget?
iii What is flexible budget?
.
iv. Explain Budgetary control.
v. What is variable cost?
vi. What is budget center?
vii What is sales budget?
.

i. A Company Expects to have rs 37,500 cash in hand on 1st April,and requires

you to prepare an estimated of cash position during the three month-
April,May and June.The following information is supplied to you.
Months Sales Purchases Wages Factory Office
expenses Expenses
February 75,000 45,000 9,000 7,500 6,000
March 84,000 48,000 9,750 8,250 6,000
April 90,000 52,500 10,500 9,000 6,000
May 1,20,000 60,000 13,500 11,250 6,000
June 1,35,000 60,000 14,250 14,000 7,000
A) Period of Credit allowed by suppliers 2 months.
B) 20% of Sales are for cash and period of credit allowed to customer for
credit is one month.
C) Delay in payment of all expenses 1 Month.
D) Income tax of 57,500 is due to be paid on June 15th.
E) The company is to pay dividend to shareholder and bonus to workers of
rs 15,000 and22,500respectively in the month of April.
Plant has been ordered to be received and paid in May.It will cost 1,20,000.
ii. What is labour budget?
iii What is cash budget?
.

i. Capital Budget is prepare for long period of time.

ii. Cash Budget shows budgeted receipts and payment.
iii Production cost shows budgeted cost of production.
.
iv. Flexible budget is useful for control of performance.
v. Budget defines responsibility of a concerned manager.

i. What is budget center?

ii. What is sales budget?
iii What is flexible budget?
.
iv. Explain Budgetary control.
v. What is variable cost?
vi.
vii
.

i. A Company Expects to have rs 37,500 cash in hand on 1st April,and requires

you to prepare an estimated of cash position during the three month-
April,May and June.The following information is supplied to you.
Months Sales Purchases Wages Factory Office
expenses Expenses
February 75,000 45,000 9,000 7,500 6,000
March 84,000 48,000 9,750 8,250 6,000
April 90,000 52,500 10,500 9,000 6,000
May 1,20,000 60,000 13,500 11,250 6,000
June 1,35,000 60,000 14,250 14,000 7,000
F) Period of Credit allowed by suppliers 2 months.
G) 20% of Sales are for cash and period of credit allowed to customer for
credit is one month.
H) Delay in payment of all expenses 1 Month.
I) Income tax of 57,500 is due to be paid on June 15th.
J) The company is to pay dividend to shareholder and bonus to workers of
rs 15,000 and22,500respectively in the month of April.
Plant has been ordered to be received and paid in May.It will cost 1,20,000.
ii. What is labour budget?
iii What is cash budget?
.