PFMS portal is used for: MCQ with Answer and Explanation
Question
Report Error
Discuss this Question (0)
Practice More Accountancy and Book Keeping Questions
Question #1
Report Error
The 'Vivad se Vishwas' scheme relates to:
Correct Answer: Option B
Explanation:
Vivad se Vishwas is a scheme for settlement of pending income tax disputes.
Vivad se Vishwas is a scheme for settlement of pending income tax disputes.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
Report Error
A debenture is a:
Correct Answer: Option A
Explanation:
A debenture is a written instrument issued under the common seal of the company acknowledging a long-term debt to the holders.
A debenture is a written instrument issued under the common seal of the company acknowledging a long-term debt to the holders.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
Report Error
S1: Under GST, the 'Input Tax Credit' (ITC) on goods lost, stolen, destroyed, or written off is not available. S2: ITC on goods used for personal consumption is fully available. Which statement(s) is/are correct?
Correct Answer: Option A
Explanation:
S1 is correct as per Section 17(5) of the CGST Act; ITC is blocked for lost, stolen, destroyed, or written-off goods. S2 is incorrect because ITC is explicitly blocked for goods used for personal consumption.
S1 is correct as per Section 17(5) of the CGST Act; ITC is blocked for lost, stolen, destroyed, or written-off goods. S2 is incorrect because ITC is explicitly blocked for goods used for personal consumption.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
No comments yet. Be the first to start the discussion!