1-40 Flashcards
1) GST was introduced in India with effect from
(a) 1.7.2017
(b) 1.1.2017
(c) 1.4.2017
(d) 8.7.2017
A
2) In Jammu & Kashmir, GST was introduced with effect from
(a) 1.8.2018
(b) 1.7.2017
(c) 8.7.2018
(d) 8.7.2017
D
3) Constitution Amendment Bill for implementation of GST was_______
(a) 101st
(b) 100th
(c) 121st
(d) 122nd
D
4) Constitution Amendment Act for implementation of GST was _______
(a) 101st
(b) 100th
(c) 121st
(d) 122nd
A
5) GST is charged on _______
(a) Sale Value
(b) Transaction Value
(c) Value Addition
(d) Manufacturing Cost
C
6) As per 101st Constitution Amendment Act, Article _____ was inserted in the constitution.
(a) 101B
(b) 256A
(c) 246A
(d) 156B
C
7) UTGST Act is enacted by _____
(a) Union Govt.
(b) Union Territory
(c) State Govts.
(d) GST Council
A
8) As per the 101st Constitution Amendment Act, the power to levy GST rests on _____
(a) State Govt.
(b) Union Govt.
(c) State & Union Govt.
(d) Union Territory, State & Union Govt
C
9) GST is a ______
(a) Multipoint Tax
(b) Single point Tax
(c) Regressive Tax
(d) None of the above
A
10) GST is a _______ tax
(a) Service based
(b) Supply based
(c) Consumption based
(d) Supply & Consumption based
C
11) Government of India together with ______ created the GST Network
(a) NSA
(b) NSDL
(c) NIESBUD
(d) CBIC
B
12) UTGST is levied when____
(a) Supply is made within a Union Territory
(b) Supply from one Union Territory to another
(c) Interstate supply
(d) None of the above
A
13) SAC refers to ___________
(a) Systematic Accounting Code
(b) Services Accounting Code
(c) System Administration Code
(d) Scientific Accounting Code
B
14) When an interstate supply is made, _______ will be levied
(a) CGST
(b) UTGST
(c) CGST & SGST
(d) IGST
D
15) Tax which is not merged with GST is_____
(a) Service Tax
(b) Excise Duty
(c) Basic Customs Duty
(d) Purchase Tax
C
16) GST is a matter of jurisdiction of ______ Government
(a) Union
(b) State
(c) Union & State
(d) None of these
C
17) A dealer in Tamil Nadu has sold to goods to a dealer in Kerala. Which tax will be levied?
(a) CGST & SGST
(b) UTGST
(c) IGST
(d) CGST only
C
18) Under GST, tax will be paid to the state where goods are ______
(a) Manufactured
(b) Sold
(c) Consumed
(d) Purchased
C
19) Under GST regime, imports into India are subject to ______
(a) CGST & SGST
(b) CGST, SGST
& BCD
(c) IGST & BCD
(d) IGST
C
20) GSTN is a company registered as per Section ___ of the Companies Act, 2013
(a) Sec. 25
(b) Sec. 8
(c) Sec. 2(62)
(d) None of the above
B
21) The President of India constituted GST Council as per Article ____ of the constitution.
(a) 246A
(b) 269A
(c) 279A
(d) 276
C
22) As per Article 366 (12A), GST covers all goods except _________
(a) Motor Spirit
(b) Natural Gas
(c) Alcoholic Liquor
(d) Tobacco
C
23) What is true about Tobacco products under GST regime?
(a) Tobacco will be brought under GST later
(b) Tobacco is out of the purview of GST
(c) Tobacco is subject to GST in addition to Central Excise Duty
(d) None of the above
C
24) Who is the Chairperson of GST Council?
(a) Union Finance Minister
(b) Nominated by the Govt.
(c) Nominated by Council
(d) Elected by Council
A
25) Who is the Vice Chairperson of GST Council?
(a) Union Minster of State in charge of Revenue of Finance
(b) Any State Finance Minister
(c) Nominated by Govt.
(d) Selected by the Council from Members
D
26) GST Council was constituted w.e.f. ____
(a) 12.9.2016
(b) 1.7.2017
(c) 10.9.2016
(d) 1.4.2017
B
27) Quorum of GST council is ____ of the number of members.
(a) One third
(b) Three fourth
(c) Two third
(d) One half
D
28) Decisions of GST Council will be based on _______ majority of votes cast
(a) 2/3rd of votes cast
(b) 1/2nd of votes cast
(c) 3/4th of votes cast
(d) None of these
C
29) Vote of Central Government shall have _____ weightage.
(a) 1/2
(b) 1/3
(c) 2/3
(d) 3/4
B
30) Integrated GST is applicable on _____
(a) Interstate Supply only
(b) Interstate supply & Imports
(c) Exports
(d) Intrastate sales
B
31) Taxable event under GST is ______
(a) Sale
(b) Goods & Services
(c) Supply
(d) None of these
C
32) The rate of IGST is equal to the rate of
a) CGST
b) CGST plus SGST
c) SGST
d) SGST plus UTGST
B
33) GST dealers with annual turnover of — are not required to use HSN code
(a) Less than Rs. 1.5 crore
(b) less than Rs. 20 lakh
(c) less than Rs. 1 crore
(d) less than Rs. 75 lakh
A
34) Dealers whose annual turnover between Rs. 1.5 crore and Rs. 5 crore need to use
a) Two-digit HSN code
b) Six-digit HSN Codes
c) Four digit HSN Codes
d) Eight digit HSN codes
A
35) Dealers with annual turnover of Rs. 5 crore and above must use ____ for their invoices.
a) Two-digit HSN code
b) Six-digit HSN Codes
c) Four digit HSN Codes
d) Eight digit HSN codes
C
36) In the case of import or export of goods, using ____ is compulsory
a) Two-digit HSN code
b) Six-digit HSN Code
c) Four digit HSN Code
d) Eight digit HSN code
D
37) A supply consisting of two or more goods/ services which are naturally bundled, one being
principal supply is called ______
(a) Composite Supply
(b) Continuous Supply
(c) Mixed Supply
(d) Taxable Supply
A
38) Which of the following is NOT true regarding Aggregate Turnover?
(a) Includes taxable and exempt supplies
(b) Calculated for person having same PAN
(c) Involves export of goods
(d) Includes taxes paid
D
39) The rate of tax under GST Act in India shall not exceed _____
(a) 30%
(b) 28%
(c) 40%
(d) 35%
C
40) The highest tax rate currently applicable under GST is _______
(a) 40%
(b) 28%
(c) 18%
(d) 14%
B
