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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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