GST quiz Question and answer quiz

GST quiz Question and answer quiz

1. 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

Ans. b

 

2. India has chosen ____________ model of dual-GST?
A.) Canadian
B.) Cuba
C.) Belize
D.) Nicaragua

3. In GST only three type of taxes will be charged in whole country. What are they ?

Goods and Services Tax (GST)
A.) CGST, EGST & LGST
B.) CGST, SGST & IGST
C.) CGST, SGST & KGST
D.) RGST, SGST & IGST
1

4. The Central Board of Excise and Customs (CBEC) has recently announced that ___________ will be observed as GST Day ?
A.) 1st June
B.) 1st July
C.) 30st June
D.) 02nd July

5. The main objective of GST is to ______________ excessive taxation.
A.) exempt
B.) exclude
C.) eliminate
D.) None

6. What are the factors differentiating Composite Supply & Mixed Supply?

  1. None of the above

7. Which of the following tax will be abolished by the GST?

(a) Service Tax

(b) Corporation tax

(c) Income Tax

(d) Wealth Tax

Ans. a

 

8.What are different types of supplies covered under the scope of Supply?

  1.   None of the above

Explanation: GST will subsume all the indirect taxes applicable in India. Service tax is an indirect tax so it will be abolished throughout India.

9. Which of the following tax rate is not applicable under the GST?

(a) 5

(b) 12

(c) 18

(d) 25

Ans. d

Explanation: GST will comprise five basic rates: 0 percent, 5 percent, 12 percent, 18 percent and 28 percent.

10. 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

Ans. b

 

11. GST will be levied on………………..

(a) Manufacturers

(b) Retailers

(c) Consumers

(d) All of the above

Ans. d

Explanation: The GST is an indirect tax which means that the tax is passed on till the last stage wherein it is the customer of the goods and services who bears the tax.

Explanation: Goods and Services Tax is an indirect tax which will be levied on the goods and services both.

12 Which constitutional amendment is done to pass the GST bill?

(a) 101st

(b) 120th

(c) 122nd

(d)115th

Ans. a

 

13. Who is the head of the GST council?

(a) Shashi Kant Das

(b) Amit Mitra

(c) Arun Jaitley

(d) Hasmukh Adhia

Ans. c

Explanation: The GST Council aims to develop a harmonized national market of goods and services. The Union Finance Minister Arun Jaitley is the Chairman of the GST council.

Explanation: 101st Constitutional Amendment is done to pass the GST bill.

14. 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

Ans. d

Explanation: Cooking gas, Liquor, Petrol, air fuel, natural gas and diesel are not covered under the GST. State government can impose tax on these goods as per their wish.

15. The government has recently launched GST regime, effective from July 1, 2017. What is GST ?
A.) Goods and Services Tax (GST)
B.) Gods and Services Tax (GST)
C.) Goods and Services Total (GST)
D.) None of these

 

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