Service Tax – Levy, Collection and Payment of tax, 10 Question Quiz!
Service tax is a form of indirect tax. Since this tax is on services , instance and time for the purpose of payment of tax becomes difficult at so man times. For bringing clarity and uniformity in this regard, Point of taxation Rules , 2011 have bee introduced. This rule provides time for which service tax has to be paid and the at the same and the most important part time for taxation of service under consideration. In the recent times, Department also made compulsory e payment of service tax under certain conditions.
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- Question 1 of 10
1. Question1 points
The mechanism under which liability for payment of service tax is on the service receiver is known as reverse charge.Correct
Reverse charge under service tax is a mehanism in which reveiver of service has to pay the tax in place of provider.Incorrect
- Question 2 of 10
2. Question1 points
Service provider have option to pay service tax of current year upto 50 lakhs on receipt basis ifCorrect
Individuals and partnership firms whose aggregate value of taxable services provided from one or more premises is fifty lakh rupees or less in the previous financial year, the service provider shall have option to pay the service tax on receipt basis by the due dates upto `50 lakhs in the current financial year.Incorrect
- Question 3 of 10
3. Question1 points
Liability to pay service tax isCorrect
As per rule 3 of POT rules the liability to pay service tax shall arise upon issuance of invoice or receipt of payment whichever is earlier means accrula basis.Incorrect
- Question 4 of 10
4. Question1 points
Which of the following services are considered as continuous supply of service
irrespective of period for which they are provided or to be provided ?Correct
As per Notification No. 28/2011.Incorrect
- Question 5 of 10
5. Question1 points
e-payment of service tax is mandatory for the assessee, who has paid service taxCorrect
As per Notification No 16 /2013-Service Tax, w.e.f January 1,2014 e-payment of service tax is mandatory for the assessee, who has paid service tax more than 1 lakh.Incorrect
- Question 6 of 10
6. Question1 points
Due date for payment of service tax is different in case of e- payment and ofline payment.Correct
Due date for payment of service tax is 5th in case of ofline payment of next month of respective quarter and 6 in case of e-payment.Incorrect
- Question 7 of 10
7. Question1 points
In case of continuous supply of service, the point of taxation isCorrect
In case of continuous supply of service, the point of taxation shall be the date of completion of the events as specified in the contract or time when invoice for the service provided or to be provided is issued or the date on which payment is received whichever is earlier.Incorrect
- Question 8 of 10
8. Question1 points
â€œDate of paymentâ€_x009d_ as per POT Rules,2011 isCorrect
As per rule 2A of POT Rules, â€œDate of paymentâ€_x009d_ shall be the earlier of the dates on which the payment is entered in the books of accounts or is credited to the bank account of the person liable to pay tax.Incorrect
- Question 9 of 10
9. Question1 points
For the quarter ending 31st March, the due date of payment of service taxCorrect
For the quarter ending 31st March, the due date of payment of service tax 31st March.Incorrect
- Question 10 of 10
10. Question1 points
Continuous supply of serviceâ€_x009d_ means any service provided or agreed to be provided continuously or on
recurrent basis, under a contract, for a period exceedingCorrect
Continuous supply of serviceâ€_x009d_ means any service provided or agreed to be provided continuously or on recurrent basis, under a contract, for a period exceeding 3 months.Incorrect