McqMate
Chapters
| 1. |
The concept of Goods and Services Tax (GST) is originated in……….. |
| A. | Canada |
| B. | USA |
| C. | Britain |
| D. | Germany |
| Answer» A. Canada | |
| 2. |
Which of the following is statement is not correct about GST? |
| A. | GST is like a last-point retail tax. GST is going to be collected at point of Sale. |
| B. | GST will abolish all the direct tax levied in India . |
| C. | It will be implemented from 1 July, 2017 throughout the country. |
| D. | It will unified the tax structure in India |
| Answer» B. GST will abolish all the direct tax levied in India . | |
| 3. |
Which of the following tax will be abolished by the GST? |
| A. | Service Tax |
| B. | Corporation tax |
| C. | Income Tax |
| D. | Wealth Ta |
| Answer» A. Service Tax | |
| 4. |
Which of the following tax rate is not applicable under the GST? |
| A. | 5 |
| B. | 12 |
| C. | 18 |
| D. | 25 |
| Answer» D. 25 | |
| 5. |
GST will be levied on………………... |
| A. | Manufacturers |
| B. | Retailers |
| C. | Consumers |
| D. | All of the above |
| Answer» D. All of the above | |
| 6. |
What kind of Tax is GST? |
| A. | Direct Tax |
| B. | Indirect Tax |
| C. | Depends on the type of goods and services |
| D. | None of the above |
| Answer» B. Indirect Tax | |
| 7. |
Who is the head of the GST council? |
| A. | Shashi Kant Das |
| B. | Amit Mitra |
| C. | Arun Jaitley |
| D. | Hasmukh Adhia |
| Answer» C. Arun Jaitley | |
| 8. |
Which constitutional amendment is done to pass the GST bill? |
| A. | 101st |
| B. | 120th |
| C. | 122nd |
| D. | 115th |
| Answer» A. 101st | |
| 9. |
Which of the following good will not be covered under the GST bill? |
| A. | Cooking gas |
| B. | Liquor |
| C. | Petrol |
| D. | All of the above |
| Answer» D. All of the above | |
| 10. |
Which of the following is the main motive of the government behind the introduction of the Goods and Services Tax |
| A. | To bring tax uniformity in the country |
| B. | To increase government revenue |
| C. | To replace all the indirect tax |
| D. | All of the above |
| Answer» B. To increase government revenue | |
| 11. |
GST stands for |
| A. | Goods and Service Tax |
| B. | Goods and Supply Tax |
| C. | Government Service Tax |
| D. | General Sales Tax |
| Answer» A. Goods and Service Tax | |
| 12. |
In India GST became effective from_________________ |
| A. | 1st April,2017 |
| B. | 1st January,2017 |
| C. | 1st July,2017 |
| D. | 1st March,2017 |
| Answer» C. 1st July,2017 | |
| 13. |
India has got____________ mode of GST. |
| A. | Singular |
| B. | Dual |
| C. | all |
| D. | none |
| Answer» B. Dual | |
| 14. |
GST is a ____________________ based tax on consumption of goods and services. |
| A. | Destination |
| B. | Duration |
| C. | Destiny |
| D. | Development |
| Answer» A. Destination | |
| 15. |
What does “I” stand for in IGST? |
| A. | Integrated |
| B. | International |
| C. | Intra |
| D. | Internal |
| Answer» A. Integrated | |
| 16. |
How many types of taxes are there in India GST? |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| Answer» B. 3 | |
| 17. |
First announcement for introduction of GST arose in |
| A. | 2004 |
| B. | 2005 |
| C. | 2006 |
| D. | 2007 |
| Answer» C. 2006 | |
| 18. |
What are the taxes levied on intra-state supply of goods? |
| A. | CGST |
| B. | SGST |
| C. | CGST and SGST |
| D. | IGST |
| Answer» C. CGST and SGST | |
| 19. |
What type of tax will be levied on import of goods? |
| A. | CGST |
| B. | SGST |
| C. | CGST and SGST |
| D. | IGST |
| Answer» D. IGST | |
| 20. |
HSN code stand for |
| A. | Harmonised System of Nomenclature |
| B. | Home State Number |
| C. | Host State Number |
| D. | Hall State Number |
| Answer» A. Harmonised System of Nomenclature | |
| 21. |
India has chosen dual mode of GST same as ____________. |
| A. | USA |
| B. | UK |
| C. | CANADA |
| D. | CHINA |
| Answer» C. CANADA | |
| 22. |
India GST model has ____________ rate structure. |
| A. | 3 |
| B. | 2 |
| C. | 5 |
| D. | 4 |
| Answer» D. 4 | |
| 23. |
SAC stand for ____________. |
| A. | Service Accounting Code |
| B. | Software Accounting Code |
| C. | System Accounting Code |
| D. | Service Application Code |
| Answer» A. Service Accounting Code | |
| 24. |
Can a person apply for pan without registration? |
| A. | YES |
| B. | NO |
| C. | none |
| D. | all |
| Answer» B. NO | |
| 25. |
IGST is payable when the supply is --- |
| A. | Interstate |
| B. | Intra-state |
| C. | Intra- UT |
| D. | All of the above |
| Answer» A. Interstate | |
| 26. |
Zero Rated Supplies include: |
| A. | Exports |
| B. | Imports |
| C. | SEZs |
| D. | Both A and C |
| Answer» D. Both A and C | |
| 27. |
GSTN stands for: |
| A. | Goods and Services Transport Nation |
| B. | Goods and Service Tax Network |
| C. | Goods and Society Tax Network |
| D. | Goods and Service Tax Net |
| Answer» B. Goods and Service Tax Network | |
| 28. |
What is taxable event under GST? |
| A. | Supply of goods |
| B. | Supply of services |
| C. | Supply of goods and services |
| D. | None of the above |
| Answer» C. Supply of goods and services | |
| 29. |
Is reverse charge mechanism applicable to both goods and services? |
| A. | YES |
| B. | NO |
| C. | none |
| D. | all |
| Answer» A. YES | |
| 30. |
Is composition scheme available to people making inter-state supplies? |
| A. | YES |
| B. | NO |
| C. | none |
| D. | all |
| Answer» B. NO | |
| 31. |
Goods and Service tax is applicable to: |
| A. | Whole of India |
| B. | Whole of India except Jammu and Kashmir |
| C. | Whole of India, except Jammu and Kashmir and Union Territories of Dadra, Nagar Haveli, Daman & Diu |
| D. | Partially in India |
| Answer» A. Whole of India | |
| 32. |
Can the taxable person under composition scheme avail the input tax credit? |
| A. | YES |
| B. | NO |
| C. | none |
| D. | all |
| Answer» B. NO | |
| 33. |
Can the composition tax be collected from customers? |
| A. | YES |
| B. | NO |
| C. | none |
| D. | all |
| Answer» B. NO | |
| 34. |
Where the supplier involves a movement of goods, the place of supply shall be determined by -------. |
| A. | Movement of goods |
| B. | Location of goods at the time of final delivery |
| C. | Supplier’s location |
| D. | Recipients’ location |
| Answer» B. Location of goods at the time of final delivery | |
| 35. |
Which of the following tax is not subsumed in GST? |
| A. | VAT |
| B. | Stamp Duty |
| C. | Entry Tax |
| D. | Entertainment Tax |
| Answer» B. Stamp Duty | |
| 36. |
What are the taxes levied on inter-state supply of goods? |
| A. | CGST |
| B. | SGST |
| C. | CGST and SGST |
| D. | IGST |
| Answer» D. IGST | |
| 37. |
What is the maximum rate prescribed under CGST? |
| A. | 5 |
| B. | 10 |
| C. | 30 |
| D. | 20 |
| Answer» D. 20 | |
| 38. |
What is the maximum rate prescribed under UTGST? |
| A. | 5 |
| B. | 10 |
| C. | 30 |
| D. | 20 |
| Answer» D. 20 | |
| 39. |
What is the maximum rate prescribed under SGST? |
| A. | 5 |
| B. | 10 |
| C. | 30 |
| D. | 20 |
| Answer» D. 20 | |
| 40. |
How will the goods and services be classified under GST regime? |
| A. | SAC/HSN CODE |
| B. | HSN |
| C. | SAC |
| D. | None of the above |
| Answer» A. SAC/HSN CODE | |
| 41. |
Is there any ceiling limit prescribed for rate under IGST? |
| A. | 12 |
| B. | 18 |
| C. | 28 |
| D. | 40 |
| Answer» D. 40 | |
| 42. |
IGST deals with |
| A. | Composition scheme |
| B. | Time of supply |
| C. | Service tax on imported services |
| D. | All of the above |
| Answer» C. Service tax on imported services | |
| 43. |
The turnover limit of Rs. 50 Lakh for composition scheme is not applicable to the state of |
| A. | Himachal Pradesh |
| B. | Assam |
| C. | Uttarakhand |
| D. | None of the above |
| Answer» C. Uttarakhand | |
| 44. |
IGST tax levy means |
| A. | Within state |
| B. | Between two states |
| C. | Only A |
| D. | None of the above |
| Answer» B. Between two states | |
| 45. |
IGST levy can be levied |
| A. | Centre |
| B. | State |
| C. | Union Territory |
| D. | Both a and b |
| Answer» A. Centre | |
| 46. |
A person is having multiple business requires registration |
| A. | Single |
| B. | Each business separately |
| C. | Either A or B |
| D. | None of the above |
| Answer» B. Each business separately | |
| 47. |
Zero rated supply includes supplies made |
| A. | By SEZ unit in India |
| B. | To SEZ unit in India |
| C. | Both (a & (b) above |
| D. | None of the above |
| Answer» B. To SEZ unit in India | |
| 48. |
With the introduction of GST, imports will be— |
| A. | more expensive |
| B. | cheaper |
| C. | neutral with no change |
| D. | None of the above |
| Answer» A. more expensive | |
| 49. |
Compensation to states under GST (Compensation to States) Act, 2017 is paid by |
| A. | Central Government from consolidated fund of India |
| B. | Central Government from GST compensation fund of India |
| C. | Central Government directly from the collection of compensation cess |
| D. | GST Council under Constitution of India. |
| Answer» B. Central Government from GST compensation fund of India | |
| 50. |
While computing compensation to states, tax revenue of this tax/ these taxes is excluded |
| A. | petroleum crude, diesel, petrol, ATF and natural gas |
| B. | Alcohol for human consumption |
| C. | entertainment tax collected by local authorities |
| D. | All of the above |
| Answer» D. All of the above | |
| 51. |
Input tax credit on compensation cess paid under GST (Compensation to States) Act, 2017. |
| A. | is not available |
| B. | is available |
| C. | is available but not fully |
| D. | is available after one year |
| Answer» B. is available | |
| 52. |
Input tax credit under GST (Compensation to States) Act, 2017 includes GST Compensation Cess charged on any supply of |
| A. | Goods and/or services, |
| B. | Goods imported |
| C. | GST Compensation Cess payable on reverse charge basis; |
| D. | All of the above |
| Answer» D. All of the above | |
| 53. |
Maximum rate of CGST prescribed by law for intrastate supply made is---- |
| A. | 18% |
| B. | 20% |
| C. | 40% |
| D. | 28%+cess |
| Answer» B. 20% | |
| 54. |
Input tax credit on Compensation cess paid under GST (Compensation to States) Act, 2017 is available for payment of |
| A. | IGST only |
| B. | IGST and CGST only |
| C. | compensation under GST (Compensation to States) Act |
| D. | None of the above |
| Answer» C. compensation under GST (Compensation to States) Act | |
| 55. |
Zero rated supply includes supplies made |
| A. | By SEZ unit in India |
| B. | To SEZ unit in India |
| C. | Both (a & (b above |
| D. | None of the above |
| Answer» B. To SEZ unit in India | |
| 56. |
The first committee to design GST model was headed by |
| A. | Vijay Kelkar |
| B. | Asim Das Gupta |
| C. | Dr. Chidambaram |
| D. | None of the above |
| Answer» B. Asim Das Gupta | |
| 57. |
First discussion paper (FDP) which formed the basis for GST in 2009 was released by |
| A. | Union Finance Ministry |
| B. | Dr. Manmohan Singh |
| C. | GST Council |
| D. | Empowered Committee |
| Answer» D. Empowered Committee | |
| 58. |
Roll out of GST requires constitutional amendment because |
| A. | existing laws were cascading |
| B. | the powers of levy were exclusive |
| C. | there are separate laws for goods and services |
| D. | All of the above |
| Answer» D. All of the above | |
| 59. |
Works contract under GST is goods used in work relating to |
| A. | Immovable property |
| B. | Both movable and immovable property |
| C. | Immovable property treated as supply of service |
| D. | Immovable property treated as supply of goods |
| Answer» C. Immovable property treated as supply of service | |
| 60. |
A supplier is liable to get registered under GST if his aggregate turnover in a financial year crosses Rs. 20 lakh in a state or UT other than special category states if he is |
| A. | an interstate supplier |
| B. | an intra-state supplier |
| C. | Electronic commerce operator |
| D. | Person liable to pay GST under reverse charge |
| Answer» B. an intra-state supplier | |
| 61. |
Registration under GST is not compulsory to |
| A. | Casual taxable person |
| B. | Input service distributor |
| C. | Non-resident taxable person |
| D. | None of the above |
| Answer» D. None of the above | |
| 62. |
One of the following states does not fall under special category given under Art. 279A of the Constitution |
| A. | Himachal Pradesh |
| B. | Uttarakhand |
| C. | Chhattisgarh |
| D. | Jammu & Kashmir |
| Answer» C. Chhattisgarh | |
| 63. |
Exemption from registration is available to |
| A. | Central & State Govt. Departments |
| B. | Agriculturists |
| C. | a) & b) above |
| D. | None of the above |
| Answer» B. Agriculturists | |
| 64. |
Address for delivery |
| A. | Recipient address mentioned in the tax invoice |
| B. | Recipient address mentioned in the delivery challan |
| C. | Recipient address not necessary |
| D. | Recipient address mentioned in the Gate pass |
| Answer» A. Recipient address mentioned in the tax invoice | |
| 65. |
When President assent was obtained for central GST? |
| A. | 18th April 2017 |
| B. | 22nd April 2017 |
| C. | 5th April 2017 |
| D. | 12th April 2017 |
| Answer» D. 12th April 2017 | |
| 66. |
What is applicability of GST? |
| A. | Applicable all over India except Sikkim |
| B. | Applicable all over India except Jammu and Kashmir |
| C. | Applicable all over India |
| D. | Applicable all over India except Nagaland |
| Answer» C. Applicable all over India | |
| 67. |
Money means |
| A. | Indian legal tender |
| B. | Foreign currency |
| C. | Cheque/promissory note |
| D. | All the above |
| Answer» D. All the above | |
| 68. |
Non-taxable territory means |
| A. | Outside taxable territory |
| B. | Inside taxable territory |
| C. | Inter-state taxable territory |
| D. | None of the above |
| Answer» A. Outside taxable territory | |
| 69. |
Person includes |
| A. | Individual |
| B. | HUF |
| C. | LLP |
| D. | All the above |
| Answer» D. All the above | |
| 70. |
Goods and Service Tax council referred in which section |
| A. | 279A of the constitution |
| B. | 276 of the constitution |
| C. | 277 of the constitution |
| D. | 279 of the constitution |
| Answer» A. 279A of the constitution | |
| 71. |
Weight age of vote for centre at GST council |
| A. | 1/4th of total votes cast |
| B. | 1/3rd of total votes cast |
| C. | ½ of total votes cast |
| D. | Only B |
| Answer» B. 1/3rd of total votes cast | |
| 72. |
Weightage of States (combined) at GST council |
| A. | 2/3rd of total votes cast |
| B. | 1/3rd of total votes cast |
| C. | 1/4th of total votes cast |
| D. | None of the above |
| Answer» A. 2/3rd of total votes cast | |
| 73. |
Who is chairperson of GST council |
| A. | Finance secretary |
| B. | State Finance Minister |
| C. | Union Finance Minister |
| D. | None of the above |
| Answer» C. Union Finance Minister | |
| 74. |
Taxable turnover of below Rs.1.5 crore assessee under control of |
| A. | Centre |
| B. | State |
| C. | Both a and b |
| D. | Only c |
| Answer» C. Both a and b | |
| 75. |
Powers to declare certain activities/transactions as neither supply of goods nor of services |
| A. | Schedule I |
| B. | Schedule III |
| C. | Schedule II |
| D. | Schedule IV |
| Answer» B. Schedule III | |
| 76. |
When GST council constituted |
| A. | 15.09.2016 |
| B. | 13.09.2016 |
| C. | 12.09.2016 |
| D. | 20.09.2016 |
| Answer» C. 12.09.2016 | |
| 77. |
Address for delivery is |
| A. | Recipient address mentioned in the invoice |
| B. | Recipient address mentioned in the delivery challan |
| C. | Recipient address not necessary |
| D. | Recipient address mentioned in the Gate pass |
| Answer» A. Recipient address mentioned in the invoice | |
| 78. |
Agriculturist includes |
| A. | Individual or HUF |
| B. | Individual and HUF |
| C. | Partnership |
| D. | All the above |
| Answer» A. Individual or HUF | |
| 79. |
Associated enterprise is mentioned under |
| A. | Income tax act 1961 |
| B. | Companies Act 2013 |
| C. | Central GST Act 2017 |
| D. | State GST Act 2017 |
| Answer» A. Income tax act 1961 | |
| 80. |
Appointed day is |
| A. | Date on which the provisions of this Act shall come into force |
| B. | Date on which President assent |
| C. | Date of which both houses passed the act |
| D. | Date on which sent to Finance Ministry |
| Answer» A. Date on which the provisions of this Act shall come into force | |
| 81. |
Deemed exports mentioned in which section |
| A. | Section 137 |
| B. | Section 147 |
| C. | Section 142 |
| D. | Section 145 |
| Answer» B. Section 147 | |
| 82. |
Quarter means |
| A. | March |
| B. | September |
| C. | December |
| D. | All the above |
| Answer» D. All the above | |
| 83. |
Taxable levy in case of manufacture under composite scheme |
| A. | Two percent |
| B. | Three per cent |
| C. | One per cent |
| D. | Half per cent |
| Answer» C. One per cent | |
| 84. |
Whether person opted for composite scheme collect tax under GST |
| A. | No |
| B. | Yes |
| C. | Only A |
| D. | None of the above |
| Answer» C. Only A | |
| 85. |
Participation of ITC value chain in composite scheme |
| A. | With participation |
| B. | Without participation |
| C. | Either a or b |
| D. | None of the above |
| Answer» B. Without participation | |
| 86. |
Taxes paid on |
| A. | Transaction value |
| B. | Manufacturing cost |
| C. | Both A and B |
| D. | None of the above |
| Answer» A. Transaction value | |
| 87. |
ITC available |
| A. | In the course or Furtherance of business |
| B. | Other than business exp |
| C. | Only A |
| D. | None of the above |
| Answer» A. In the course or Furtherance of business | |
| 88. |
Input tax credit availability |
| A. | On receipt of goods |
| B. | On payment of taxes paid by supplier to Govt. |
| C. | Taken to manufacturing site or availed services |
| D. | None of the above |
| Answer» B. On payment of taxes paid by supplier to Govt. | |
| 89. |
Input tax on capital goods |
| A. | In one instalment |
| B. | Partly five equal instalments |
| C. | Only A |
| D. | Equally 10% every year |
| Answer» C. Only A | |
| 90. |
Appellate Tribunal is mentioned in which section? |
| A. | Section 109 |
| B. | Section 105 |
| C. | Section 103 |
| D. | Section 119 |
| Answer» A. Section 109 | |
| 91. |
Authorised representative is referred in which section? |
| A. | Section 110 |
| B. | Section 116 |
| C. | Section 119 |
| D. | Section 106 |
| Answer» B. Section 116 | |
| 92. |
Common portal is referred in which section? |
| A. | Section 136 |
| B. | Section 146 |
| C. | Section 143 |
| D. | Section 149 |
| Answer» B. Section 146 | |
| 93. |
Debit note, and credit note is mentioned in which section? |
| A. | Section 36 |
| B. | Section 39 |
| C. | Section 34 |
| D. | None of the above |
| Answer» C. Section 34 | |
| 94. |
Electronic cash ledger and Electronic credit ledger is mentioned in which section? |
| A. | Section 39 |
| B. | Section 42 |
| C. | Section 49 |
| D. | Section 47 |
| Answer» C. Section 49 | |
| 95. |
Which of the following is an intra-state supply? |
| A. | supplier of goods located in Nagpur and place of supply of |
| B. | supplier of goods located in Kolkata and place of supply |
| C. | supplier of goods located in Goa and place of supply of |
| D. | all of the above |
| Answer» C. supplier of goods located in Goa and place of supply of | |
| 96. |
Which form is to be used for registration? |
| A. | form GSTR-1A |
| B. | form GSTR -2 |
| C. | form GST REG-01 |
| D. | form GAT REG |
| Answer» C. form GST REG-01 | |
| 97. |
GST council includes |
| A. | union finance minister |
| B. | union minister of state in charge of revenue or finance |
| C. | one nominated member from each state who is in |
| D. | all of the above |
| Answer» D. all of the above | |
| 98. |
Composite supply means |
| A. | the supply of two or more supplies of goods or services by a taxable person, which comprises of a combination of goods |
| B. | supply of two or more individual supplies of goods or services, or any combination of goods and services, |
| C. | all of the above |
| D. | none of the above |
| Answer» A. the supply of two or more supplies of goods or services by a taxable person, which comprises of a combination of goods | |
| 99. |
article 246A include |
| A. | concurrent powers |
| B. | union list |
| C. | state list |
| D. | all of the above |
| Answer» A. concurrent powers | |
| 100. |
GSTR-10 FORM due date is |
| A. | Within three months of the date of cancellation or date of |
| B. | 28th of the month following the month for which |
| C. | insufficient information |
| D. | 31st December of next financial |
| Answer» A. Within three months of the date of cancellation or date of | |
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