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 | |
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