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. |
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 | |
| 2. |
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 | |
| 3. |
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 | |
| 4. |
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 | |
| 5. |
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 | |
| 6. |
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 | |
| 7. |
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 | |
| 8. |
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 | |
| 9. |
Agriculturist includes |
| A. | Individual or HUF |
| B. | Individual and HUF |
| C. | Partnership |
| D. | All the above |
| Answer» A. Individual or HUF | |
| 10. |
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 | |
| 11. |
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 | |
| 12. |
Deemed exports mentioned in which section |
| A. | Section 137 |
| B. | Section 147 |
| C. | Section 142 |
| D. | Section 145 |
| Answer» B. Section 147 | |
| 13. |
Quarter means |
| A. | March |
| B. | September |
| C. | December |
| D. | All the above |
| Answer» D. All the above | |
| 14. |
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 | |
| 15. |
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 | |
| 16. |
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 | |
| 17. |
Taxes paid on |
| A. | Transaction value |
| B. | Manufacturing cost |
| C. | Both A and B |
| D. | None of the above |
| Answer» A. Transaction value | |
| 18. |
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 | |
| 19. |
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. | |
| 20. |
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 | |
| 21. |
Appellate Tribunal is mentioned in which section? |
| A. | Section 109 |
| B. | Section 105 |
| C. | Section 103 |
| D. | Section 119 |
| Answer» A. Section 109 | |
| 22. |
Authorised representative is referred in which section? |
| A. | Section 110 |
| B. | Section 116 |
| C. | Section 119 |
| D. | Section 106 |
| Answer» B. Section 116 | |
| 23. |
Common portal is referred in which section? |
| A. | Section 136 |
| B. | Section 146 |
| C. | Section 143 |
| D. | Section 149 |
| Answer» B. Section 146 | |
| 24. |
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 | |
| 25. |
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 | |
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