Chapter 13: Recording Goods and Services Tax (GST) using TallyPrime — Online MCQ Test
AUDITING · CLASS 12th · Tamil Nadu State Board
Practice Chapter 13: Recording Goods and Services Tax (GST) using TallyPrime with a free chapter-wise online MCQ test.
This chapter covers: The final chapter covers tax compliance automation using TallyPrime. Students examine GST structures rates and master configurations alongside practical entry recorded for intrasta....
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Chapter 13: Recording Goods and Services Tax (GST) using TallyPrime — Important Questions & Answers
What does GST stand for?
- A. Goods and Services Tax
- B. General Sales Tax
- C. Government Service Tax
- D. Goods and Stock Tax
Answer: A. Goods and Services Tax
GST stands for Goods and Services Tax. It is a single indirect tax system applied on the supply of goods and services.
GST stands for Goods and Services Tax. It is a single indirect tax system applied on the supply of goods and services.
In TallyPrime, GST-related details are mainly configured under which feature?
- A. Inventory Management
- B. Taxation / GST features
- C. Payroll Processing
- D. Budget and Scenario
Answer: B. Taxation / GST features
GST settings are configured through the taxation or GST feature in TallyPrime. This enables tax registration and compliance-related entries.
GST settings are configured through the taxation or GST feature in TallyPrime. This enables tax registration and compliance-related entries.
For an intrastate sale in TallyPrime, which tax combination is usually applied?
- A. IGST only
- B. CGST and SGST
- C. VAT and CST
- D. Excise duty and service tax
Answer: B. CGST and SGST
In intrastate sales, GST is split into CGST and SGST. IGST is used for interstate sales.
In intrastate sales, GST is split into CGST and SGST. IGST is used for interstate sales.
A company in Tamil Nadu buys goods from a supplier in Kerala. Which entry is the most appropriate tax treatment in TallyPrime?
- A. Use CGST and SGST because it is within India
- B. Use IGST because the supply is interstate
- C. Use only CGST because supplier is in another state
- D. Use no tax since purchase is interstate
Answer: B. Use IGST because the supply is interstate
Since the supplier and buyer are in different states, the purchase is interstate. IGST is the correct tax treatment.
Since the supplier and buyer are in different states, the purchase is interstate. IGST is the correct tax treatment.
Which statement is correct regarding interstate and intrastate GST recording in TallyPrime?
- A. Interstate transactions use CGST and SGST separately
- B. Intrastate transactions use IGST only
- C. Interstate transactions use IGST, while intrastate transactions use CGST and SGST
- D. Both interstate and intrastate transactions use only CGST
Answer: C. Interstate transactions use IGST, while intrastate transactions use CGST and SGST
The key distinction is that interstate supplies attract IGST, whereas intrastate supplies attract CGST and SGST. TallyPrime uses this rule for correct tax recording.
The key distinction is that interstate supplies attract IGST, whereas intrastate supplies attract CGST and SGST. TallyPrime uses this rule for correct tax recording.