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GST Reverse Charge Mechanism

Description: This quiz will test your knowledge on the GST Reverse Charge Mechanism.
Number of Questions: 15
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Tags: gst reverse charge mechanism indian law
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What is the GST Reverse Charge Mechanism?

  1. A mechanism under which the recipient of the goods or services is liable to pay GST instead of the supplier.

  2. A mechanism under which the supplier of the goods or services is liable to pay GST instead of the recipient.

  3. A mechanism under which both the supplier and the recipient of the goods or services are liable to pay GST.

  4. None of the above.

Show answer
Correct Option: A
Explanation:

The GST Reverse Charge Mechanism is a mechanism under which the recipient of the goods or services is liable to pay GST instead of the supplier. This is done to prevent tax evasion and to ensure that the government receives its due GST revenue.

In which cases is the GST Reverse Charge Mechanism applicable?

  1. When the supplier is not registered under GST.

  2. When the recipient is registered under GST.

  3. When both the supplier and the recipient are registered under GST.

  4. None of the above.

Show answer
Correct Option: A
Explanation:

The GST Reverse Charge Mechanism is applicable in cases where the supplier is not registered under GST. This is because, in such cases, the supplier cannot collect GST from the recipient. Therefore, the recipient is liable to pay GST under the Reverse Charge Mechanism.

What are the documents required to claim input tax credit under the GST Reverse Charge Mechanism?

  1. Invoice from the supplier.

  2. Payment challan.

  3. GST registration certificate of the recipient.

  4. All of the above.

Show answer
Correct Option: D
Explanation:

To claim input tax credit under the GST Reverse Charge Mechanism, the recipient must have the following documents: invoice from the supplier, payment challan, and GST registration certificate of the recipient.

What is the time limit for claiming input tax credit under the GST Reverse Charge Mechanism?

  1. One month from the date of receipt of the goods or services.

  2. Two months from the date of receipt of the goods or services.

  3. Three months from the date of receipt of the goods or services.

  4. None of the above.

Show answer
Correct Option: A
Explanation:

The time limit for claiming input tax credit under the GST Reverse Charge Mechanism is one month from the date of receipt of the goods or services.

What are the consequences of not paying GST under the GST Reverse Charge Mechanism?

  1. Penalty.

  2. Interest.

  3. Both penalty and interest.

  4. None of the above.

Show answer
Correct Option: C
Explanation:

The consequences of not paying GST under the GST Reverse Charge Mechanism are both penalty and interest.

Which of the following is not a benefit of the GST Reverse Charge Mechanism?

  1. It prevents tax evasion.

  2. It ensures that the government receives its due GST revenue.

  3. It reduces the compliance burden on businesses.

  4. It increases the cost of doing business.

Show answer
Correct Option: D
Explanation:

The GST Reverse Charge Mechanism does not increase the cost of doing business. In fact, it reduces the compliance burden on businesses.

Which of the following is not a sector where the GST Reverse Charge Mechanism is applicable?

  1. Construction.

  2. Works contract.

  3. Services provided by a lawyer.

  4. Services provided by a doctor.

Show answer
Correct Option: D
Explanation:

The GST Reverse Charge Mechanism is not applicable to services provided by a doctor.

What is the rate of GST applicable under the GST Reverse Charge Mechanism?

  1. The same rate as applicable to the supply of goods or services.

  2. The rate of GST applicable to the recipient of the goods or services.

  3. The rate of GST applicable to the supplier of the goods or services.

  4. None of the above.

Show answer
Correct Option: A
Explanation:

The rate of GST applicable under the GST Reverse Charge Mechanism is the same rate as applicable to the supply of goods or services.

Can a recipient claim input tax credit under the GST Reverse Charge Mechanism even if the supplier has not paid GST?

  1. Yes.

  2. No.

  3. It depends on the case.

  4. None of the above.

Show answer
Correct Option: A
Explanation:

A recipient can claim input tax credit under the GST Reverse Charge Mechanism even if the supplier has not paid GST.

What is the due date for filing GSTR-1 under the GST Reverse Charge Mechanism?

  1. The 11th of the month following the month in which the goods or services were received.

  2. The 15th of the month following the month in which the goods or services were received.

  3. The 20th of the month following the month in which the goods or services were received.

  4. The 25th of the month following the month in which the goods or services were received.

Show answer
Correct Option: A
Explanation:

The due date for filing GSTR-1 under the GST Reverse Charge Mechanism is the 11th of the month following the month in which the goods or services were received.

What is the due date for filing GSTR-3B under the GST Reverse Charge Mechanism?

  1. The 20th of the month following the month in which the goods or services were received.

  2. The 25th of the month following the month in which the goods or services were received.

  3. The 30th of the month following the month in which the goods or services were received.

  4. The 5th of the month following the month in which the goods or services were received.

Show answer
Correct Option: A
Explanation:

The due date for filing GSTR-3B under the GST Reverse Charge Mechanism is the 20th of the month following the month in which the goods or services were received.

What is the penalty for late filing of GSTR-1 under the GST Reverse Charge Mechanism?

  1. Rs. 100 per day.

  2. Rs. 200 per day.

  3. Rs. 300 per day.

  4. Rs. 400 per day.

Show answer
Correct Option: A
Explanation:

The penalty for late filing of GSTR-1 under the GST Reverse Charge Mechanism is Rs. 100 per day.

What is the penalty for late filing of GSTR-3B under the GST Reverse Charge Mechanism?

  1. Rs. 200 per day.

  2. Rs. 300 per day.

  3. Rs. 400 per day.

  4. Rs. 500 per day.

Show answer
Correct Option: A
Explanation:

The penalty for late filing of GSTR-3B under the GST Reverse Charge Mechanism is Rs. 200 per day.

What is the interest rate applicable on late payment of GST under the GST Reverse Charge Mechanism?

  1. 18% per annum.

  2. 24% per annum.

  3. 30% per annum.

  4. 36% per annum.

Show answer
Correct Option: A
Explanation:

The interest rate applicable on late payment of GST under the GST Reverse Charge Mechanism is 18% per annum.

What is the maximum penalty that can be imposed for late payment of GST under the GST Reverse Charge Mechanism?

  1. 100% of the tax liability.

  2. 150% of the tax liability.

  3. 200% of the tax liability.

  4. 250% of the tax liability.

Show answer
Correct Option: A
Explanation:

The maximum penalty that can be imposed for late payment of GST under the GST Reverse Charge Mechanism is 100% of the tax liability.

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