📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


26. The term “used in the course or furtherance of business” means?
option (a) It is planned to use in the course of business
(b) It should be directly co-related to output supply
(c) It is used in the course of business for making outward supply
(d) It is used or intended to be used in the course of business

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


27 Under section 16(2) of CGST Act how many conditions are to be fulfilled for the entitlement of credit?
option (a) Any two conditions (b) All six conditions
(c) Any one of the four. (d) Conditions not specified

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


28. Whether credit on inputs should be availed based on receipt of documents or receipt of goods
option (a) Receipt of Documents
(b) Receipt of goods
(c) Both of the above
(d) Either receipt of documents or Receipt of goods

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


29. In case supplier has deposited the taxes but the receiver has not received the documents, is receiver entitled to
avail credit?
option (a) Yes, if the receiver can prove later that documents are received subsequently
(b) Yes, it will be auto populated in recipient monthly returns
(c) No as one of the conditions of 16(2) is not fulfilled
(d) None of the above

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


30.Input tax credit on capital goods and Inputs can be availed in one instalment or in multiple instalments?
option (a) In twelve instalments (b) In thirty-six instalments
(c) In sixty instalments (d) In one instalment

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


32. The time limit to pay the value of supply with taxes to avail the input tax credit in case of FCM?
option (a) One hundred and eighty days (b) Till the date of filing of Annual Return
(c) Six Months (d) Thirty days

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


33. Time limit for taking input tax credit by a registered taxable person is :-
option (a) 30th Nov following the end of financial year to which such invoice or invoice relating to such debit note
pertains or furnishing of the relevant annual return, whichever is earlier.
(b) No time limit
(c) 1 year from the date of invoice
(d) Due date of furnishing of the return under section 39 for the month of September following the end of
financial year to which such invoice or invoice relating to such debit note pertains
(e) None of the above

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


34. On the part payment of the amount to the supplier within 180 days Can recipient avail ITC?
option (a) Not applicable is eligible to claim refund in respect of exports of goods
(b) Yes, on full tax amount and partly value amount
(c) No, he can’t until full amount is paid to supplier
(d) Yes, but proportionately to the extent of value and tax paid

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📝CA Final IDT May'24 MCQs By CA (Dr) Mahesh Gour Sir

Chap - ITC


35. Whether credit can be availed without actual receipt of goods where goods are transferred through transfer of
document of title before or during the movement of goods?
option (a) Can be availed only after transfer of document of title after movement of goods
(b) Yes
(c) No
(d) Yes, in specific instances

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