

McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
1. |
GST Stands for |
A. | Goods and Supply Tax |
B. | Government Sales Tax |
C. | Goods and Services Tax |
D. | Good and Simple Tax |
Answer» C. Goods and Services Tax |
2. |
GST is levied in India on the basis of Principle. |
A. | Origin |
B. | Destination |
C. | Either a or b |
D. | Both a or b |
Answer» B. Destination |
3. |
The main objective of GST implementation is . |
A. | To consolidate multiple indirect tax levies into single tax |
B. | Overcoming limitation of existing indirect tax structure |
C. | Creating efficiencies in tax administration |
D. | All of above |
Answer» D. All of above |
4. |
Which of the following is not a bill passed by parliament for the implementation of GST in India? |
A. | The Central GST Act, 2017 |
B. | The State GST Act, 2017 |
C. | The Integrated GST Act, 2017 |
D. | None of above |
Answer» B. The State GST Act, 2017 |
5. |
Petroleum products have been temporarily been kept out of GST. |
A. | One |
B. | Two |
C. | Three |
D. | Five |
Answer» D. Five |
6. |
In India, GST structure is in nature. |
A. | Single |
B. | Dual |
C. | Triple |
D. | (a) & (b) both |
Answer» B. Dual |
7. |
GST is not levied on which of the following ? |
A. | Alcoholic Liquor for Human Consumption |
B. | Five Petroleum Products |
C. | Immovable Property |
D. | All of above |
Answer» D. All of above |
8. |
GST is not levied on which of the following ? |
A. | Motor Spirit |
B. | High speed diesel |
C. | Natural gas |
D. | All of above |
Answer» D. All of above |
9. |
is levied on Intra-State Supply of goods and/or Services. |
A. | CGST |
B. | SGST |
C. | IGST |
D. | Both a & b |
Answer» D. Both a & b |
10. |
is levied on Inter State Supply of Goods and/or Services. |
A. | CGST |
B. | SGST |
C. | IGST |
D. | Both a & b |
Answer» C. IGST |
11. |
is levied on Intra State Supply of Goods and/or Services in Union Territory. |
A. | SGST |
B. | IGST |
C. | UTGST |
D. | GST is not levied |
Answer» C. UTGST |
12. |
Goods and Services Tax is a tax levied on goods and services imposed at each point of . |
A. | Sale |
B. | Service |
C. | Supply |
D. | Manufacturing |
Answer» C. Supply |
13. |
GST is a national level tax based on . |
A. | First point tax principle |
B. | Value Added principle |
C. | Last point tax principle |
D. | All of the above |
Answer» B. Value Added principle |
14. |
The following tax has been subsumed into Central GST. |
A. | Central Sales Tax |
B. | Custom Duty |
C. | Service Tax |
D. | All of the above |
Answer» D. All of the above |
15. |
GST was introduced in India on |
A. | 1-4-2017 |
B. | 1-5-2017 |
C. | 1-6-2017 |
D. | 1-7-2017 |
Answer» D. 1-7-2017 |
16. |
Indian GST model has tier rate structure. |
A. | 3 |
B. | 4 |
C. | 5 |
D. | 6 |
Answer» B. 4 |
17. |
What does ‘I’ stands for in IGST? |
A. | International |
B. | Internal |
C. | Integrated |
D. | Intra |
Answer» C. Integrated |
18. |
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 |
19. |
HSN Code Stands for |
A. | Home Shopping Network |
B. | Harmonised System of Nomenclature |
C. | Harmonised System Number |
D. | Home State Number |
Answer» B. Harmonised System of Nomenclature |
20. |
Alcoholic liquor for Human Consumption is subject to - |
A. | CGST |
B. | SGST |
C. | IGST |
D. | None of the above |
Answer» D. None of the above |
21. |
Five petroleum products viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel have been kept out of GST . |
A. | Permanently |
B. | Temporarily |
C. | For one year |
D. | None of the above |
Answer» B. Temporarily |
22. |
The items which will be taxable both under Central Excise Law and the GST even after the implementation of the GST Act. |
A. | Motor spirit |
B. | Tobacco and Tobacco Products |
C. | Alcoholic liquor for human consumption |
D. | Natural Gas |
Answer» B. Tobacco and Tobacco Products |
23. |
On Petroleum Crude, High Speed Diesel, Motor Spirit (commonly known as Petrol), Natural Gas, and Aviation Turbine Fuel: |
A. | GST will never be levied at all |
B. | GST will be levied from a date to be notified on the recommendations of the GST Council |
C. | GST will be levied, but it will be exempt |
D. | None of the above |
Answer» B. GST will be levied from a date to be notified on the recommendations of the GST Council |
24. |
Supply of the following is not liable to GST . |
A. | Alcoholic liquor for industrial consumption |
B. | Alcoholic liquor for medicinal consumption |
C. | Alcoholic liquor for human consumption |
D. | Alcoholic liquor for animal consumption |
Answer» C. Alcoholic liquor for human consumption |
25. |
GST is a comprehensive tax regime covering . |
A. | Good |
B. | Services |
C. | Both goods and services |
D. | None of the above |
Answer» C. Both goods and services |
26. |
Which of the following taxes have been subsumed under GST ? (1) Central Excise Duty (2) Service Tax (3) VAT (4) Luxury Tax Select the correct answer from the options given below |
A. | (1) & (2) etc. |
B. | (3), (1) & (2) |
C. | All of the above |
D. | None of the above |
Answer» C. All of the above |
27. |
GST is a comprehensive tax regime covering . |
A. | Good |
B. | Services |
C. | Both goods and services |
D. | Goods, services and imports |
Answer» C. Both goods and services |
28. |
Goods and Services Tax is a tax levied on goods and services imposed at each point of |
A. | Demand |
B. | Cash sale |
C. | Supply |
D. | Manufacturing |
Answer» C. Supply |
29. |
The CGST Act, 2017 extends to |
A. | Whole of India excluding the State of Jammu & Kashmir |
B. | Whole of India |
C. | Whole of India excluding the State of Jammu & Kashmir and Union territories |
D. | Whole of India excluding the State of Jammu & Kashmir but including Union territories |
Answer» B. Whole of India |
30. |
P Ltd. has a contract with X Ltd. to provide book keeping services to Q Ltd. Q Ltd. is a subsidiary of P Ltd. The liability to discharge consideration for such book keeping service is of P Ltd. As per the CGST Act, 2017, who will be the recipient of the above service? |
A. | P Ltd. |
B. | Q Ltd. |
C. | X L |
D. | (d) Both (a) and (b) |
Answer» A. P Ltd. |
31. |
The definition of goods under section 2(52) of the CGST Act does not include- |
A. | Gras |
B. | Money and securities |
C. | Actionable claims |
D. | Growing crops |
Answer» B. Money and securities |
32. |
is not included in the term “Goods” under GST Law: |
A. | Movable Property |
B. | Actionable Claim |
C. | Securities |
D. | Growing Crops |
Answer» C. Securities |
33. |
Which of the following is not covered under the term “Goods” under GST ? |
A. | Money |
B. | Actionable Claim |
C. | Securities |
D. | Both (a) & (c) |
Answer» D. Both (a) & (c) |
34. |
As per the CGST Act, 2017, "business" includes : (i) Adventure not for a pecuniary benefit (ii) Any activity or transaction undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities. |
A. | (ii) only |
B. | Both (i) and (ii) |
C. | Neither (i) nor (ii) |
D. | (i) only |
Answer» B. Both (i) and (ii) |
35. |
Which of the following can be treated as "goods" under the CGST Act, 2017 ?
|
A. | ✔✕✔ |
B. | ✕✔✔ |
C. | ✕✔✕ |
D. | ✔✕✕ |
Answer» A. ✔✕✔ |
36. |
Securities are excluded from the definition of . |
A. | Good |
B. | Services |
C. | Both (a) and (b) |
D. | Neither (a) nor (b) |
Answer» C. Both (a) and (b) |
37. |
Money is . |
A. | Specifically included in the definition of goods |
B. | Specifically included in the definition of services |
C. | Specifically excluded from the definition of goods as well as services |
D. | None of the above |
Answer» C. Specifically excluded from the definition of goods as well as services |
38. |
Actionable Claims are . |
A. | Specifically included in the definition of goods |
B. | Specifically included in the definition of services |
C. | Specifically excluded from the definition of goods as well as services |
D. | Specifically excluded from the definition of goods only |
Answer» A. Specifically included in the definition of goods |
39. |
Which of the following is a non–taxable supply under the CGST Act, 2017 ? |
A. | Supply of goods not leviable to tax under the CGST Act, 2017 |
B. | Supply of services not leviable to tax under the CGST Act, 2017 |
C. | Supply which is neither a supply of good nor a supply of service. |
D. | Both (a) and (b) |
Answer» D. Both (a) and (b) |
40. |
What are different types of supplies covered under the scope of supply? |
A. | Supplies made with consideration |
B. | Supplies made without consideration |
C. | Both of the above |
D. | None of the above |
Answer» C. Both of the above |
41. |
The activities to be treated as supply of goods or supply of services as referred to in of CGST Act, 2017. |
A. | Schedule I of CGST Act |
B. | Schedule II of CGST Act |
C. | Schedule III of CGST Act |
D. | Section 7 |
Answer» B. Schedule II of CGST Act |
42. |
Which of the following taxes will be levied on Imports? |
A. | CGST |
B. | SGST |
C. | IGST |
D. | None of the above |
Answer» C. IGST |
43. |
Which of the following is not a supply as per section 7 of the CGST Act ? |
A. | Management consultancy services not in course or furtherance of business |
B. | Import of service for consideration not in course or furtherance of business |
C. | Both (a) and (b) |
D. | None of the above |
Answer» A. Management consultancy services not in course or furtherance of business |
44. |
specifies the activities to be treated as supply even if made without Consideration |
A. | Schedule I of CGST Act |
B. | Schedule II of CGST Act |
C. | Schedule III of CGST Act |
D. | All of the above |
Answer» A. Schedule I of CGST Act |
45. |
Which of the following activity is outside the scope of supply and not taxable under GST? |
A. | Services by an employee to the employer in the course of or in relation to his employment |
B. | Services of funeral |
C. | Actionable claims, other than lottery, betting and gambling. |
D. | All of the above |
Answer» D. All of the above |
46. |
Which of the following activities is a supply of services? |
A. | Transfer of right in goods/ undivided share in goods without transfer of title in goods |
B. | Transfer of title in goods |
C. | Transfer of title in goods under an agreement which stipulates that property shall pass at a future date |
D. | All of the above |
Answer» A. Transfer of right in goods/ undivided share in goods without transfer of title in goods |
47. |
Supply includes import of services for a consideration . |
A. | Only if in the course or furtherance of business |
B. | Only if not in the course or furtherance of business |
C. | Whether or not in the course or furtherance of business |
D. | None of the above |
Answer» C. Whether or not in the course or furtherance of business |
48. |
specifies the activities which are neither to be treated as supply of goods nor a supply of services. |
A. | Schedule I of CGST Act |
B. | Schedule II of CGST Act |
C. | Schedule III of CGST Act |
D. | All of the above |
Answer» C. Schedule III of CGST Act |
49. |
Activities or transactions undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities, as may be notified by the Government on the recommendations of the Council, shall treated as . |
A. | Supply of good |
B. | Supply of services |
C. | Neither as a supply of goods nor a supply of services |
D. | Either as a supply of goods or a supply of services |
Answer» C. Neither as a supply of goods nor a supply of services |
50. |
Transfer of the title in goods shall be considered as . |
A. | Supply of good |
B. | Supply of services |
C. | Neither as a supply of goods nor a supply of services |
D. | Either as a supply of goods or a supply of services |
Answer» A. Supply of good |
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