![Mcqmate logo](https://mcqmate.com/images/logos/logo-black.png)
![Mcqmate logo](https://mcqmate.com/images/logos/logo-white.png)
McqMate
Chapters
1. |
Zero Rated Supplies include: |
A. | Exports |
B. | Imports |
C. | SEZs |
D. | Both A and C |
Answer» D. Both A and C |
2. |
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 |
3. |
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 |
4. |
Is reverse charge mechanism applicable to both goods and services? |
A. | YES |
B. | NO |
C. | none |
D. | all |
Answer» A. YES |
5. |
Is composition scheme available to people making inter-state supplies? |
A. | YES |
B. | NO |
C. | none |
D. | all |
Answer» B. NO |
6. |
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 |
7. |
Can the taxable person under composition scheme avail the input tax credit? |
A. | YES |
B. | NO |
C. | none |
D. | all |
Answer» B. NO |
8. |
Can the composition tax be collected from customers? |
A. | YES |
B. | NO |
C. | none |
D. | all |
Answer» B. NO |
9. |
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 |
10. |
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 |
11. |
What are the taxes levied on inter-state supply of goods? |
A. | CGST |
B. | SGST |
C. | CGST and SGST |
D. | IGST |
Answer» D. IGST |
12. |
What is the maximum rate prescribed under CGST? |
A. | 5 |
B. | 10 |
C. | 30 |
D. | 20 |
Answer» D. 20 |
13. |
What is the maximum rate prescribed under UTGST? |
A. | 5 |
B. | 10 |
C. | 30 |
D. | 20 |
Answer» D. 20 |
14. |
What is the maximum rate prescribed under SGST? |
A. | 5 |
B. | 10 |
C. | 30 |
D. | 20 |
Answer» D. 20 |
15. |
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 |
16. |
Is there any ceiling limit prescribed for rate under IGST? |
A. | 12 |
B. | 18 |
C. | 28 |
D. | 40 |
Answer» D. 40 |
17. |
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 |
18. |
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 |
19. |
IGST tax levy means |
A. | Within state |
B. | Between two states |
C. | Only A |
D. | None of the above |
Answer» B. Between two states |
20. |
IGST levy can be levied |
A. | Centre |
B. | State |
C. | Union Territory |
D. | Both a and b |
Answer» A. Centre |
21. |
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 |
22. |
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 |
23. |
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 |
Done Reading?