McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , General Knowledge (GK) .
Chapters
| 1. |
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 | |
| 2. |
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 | |
| 3. |
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 | |
| 4. |
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 | |
| 5. |
Maximum rate of CGST prescribed by law for intrastate supply made is---- |
| A. | 18% |
| B. | 20% |
| C. | 40% |
| D. | 28%+cess |
| Answer» B. 20% | |
| 6. |
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 | |
| 7. |
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 | |
| 8. |
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 | |
| 9. |
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 | |
| 10. |
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 | |
| 11. |
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 | |
| 12. |
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 | |
| 13. |
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 | |
| 14. |
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 | |
| 15. |
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 | |
| 16. |
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 | |
| 17. |
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 | |
| 18. |
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 | |
| 19. |
Money means |
| A. | Indian legal tender |
| B. | Foreign currency |
| C. | Cheque/promissory note |
| D. | All the above |
| Answer» D. All the above | |
| 20. |
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 | |
| 21. |
Person includes |
| A. | Individual |
| B. | HUF |
| C. | LLP |
| D. | All the above |
| Answer» D. All the above | |
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