Which of the following is a non-GST supply? MCQ with Answer and Explanation

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Which of the following is a non-GST supply?

A. Cement

B. Mobile phones

C. Software services

D. Alcoholic liquor for human consumption

Answer: Option D

Solution (By JKSSB Mock Tests)

Alcoholic liquor for human consumption is outside GST, still subject to state excise.

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

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Question #1

The 'Importer Exporter Code' (IEC) is mandatory for:

A. All persons exporting or importing goods/services (with some exemptions)

B. Only importers

C. Only exporters

D. Not required

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Correct Answer: Option A

Explanation:
IEC is a unique 10-digit code required for undertaking import/export, issued by DGFT.

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

Question #2

If opening stock is ₹20,000, purchases are ₹80,000, and closing stock is ₹15,000, what is the cost of goods sold?

A. ₹1,15,000

B. ₹95,000

C. ₹85,000

D. ₹1,00,000

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Correct Answer: Option C

Explanation:
COGS = Opening Stock + Purchases - Closing Stock = 20,000 + 80,000 - 15,000 = ₹85,000.

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Question #3

Which of the following is a test of audit?

A. Reporting

B. Planning

C. Vouching

D. Verification

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Correct Answer: Option C

Explanation:
Vouching is the primary test of audit, involving the examination of documentary evidence to support the transactions recorded in the books of accounts.

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

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