The 'GST Annual Return' GSTR-9 is required for: MCQ with Answer and Explanation

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The 'GST Annual Return' GSTR-9 is required for:

A. Regular taxpayers (not composition dealers, not ISD, etc.)

B. All registered persons

C. Input service distributors

D. Composition dealers

Answer: Option A

Solution (By JKSSB Mock Tests)

GSTR-9 is filed by normal taxpayers; composition taxpayers file GSTR-4 annually.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Question #1

The 'Deferred Tax Asset' arises when:

A. Accounting income is more than taxable income

B. Accounting income is less than taxable income

C. Income tax is refunded

D. Tax rate increases

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Correct Answer: Option B

Explanation:
Deferred tax asset is recognized when accounting profit is lower than taxable profit due to timing differences, resulting in future tax savings.

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Question #2

Which voucher is used for recording cash sales?

A. Credit voucher

B. Journal voucher

C. Cash voucher

D. Debit voucher

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Correct Answer: Option C

Explanation:
Cash sales involve receipt of cash, so a cash voucher (receipt voucher) is prepared.

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Question #3

The 'Penalty' for under-reporting of income is:

A. No penalty

B. 50% of tax payable on under-reported income

C. 200% of tax

D. 100% of tax

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Correct Answer: Option B

Explanation:
Penalty for under-reporting is 50% of tax on under-reported income; for misreporting, 200%.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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