Questions on Goods and Services Tax:
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
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
The HSN code stands for
(a) Harmonized System of Nomenclature
(b) Home State Number
(c) Host State Number
(d) Hall State Number
The concept of Goods and Services Tax (GST) originated in __
(a) Canada
(b) USA
(c) Britain
(d) Germany
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Work contracts under GST are 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 a supply of goods
Person includes
(a) Individual
(b) HUF
(c) LLP
(d) All the above
Agriculturalists include
(a) Individual or HUF
(b) Individual and HUF
(c) Partnership
(d) All the above
How will goods and services be classified under the GST regime?
(a) SAC/HSN CODE
(b) HSN
(c) SAC
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Is the reverse charge mechanism applicable to both goods and services?
(a) YES
(b) NO
Money means
(a) Indian legal tender
(b) Foreign currency
(c) Cheque/promissory note
(d) All the above
SAC stands for __
(a) Service Accounting Code
(b) Software Accounting Code
(c) System Accounting Code
(d) Service Application Code
What are the taxes levied on the inter-state supply of goods?
(a) CGST
(b) SGST
(c) CGST and SGST
(d) IGST
Taxes paid on
(a) Transaction value
(b) Manufacturing cost
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Input tax credit availability
(a) On receipt of goods
(b) On payment of taxes paid by a supplier to Govt.
(c) Taken to a manufacturing site or availed services
Debit notes, and credit notes are mentioned in which section?
(a) Section 36
(b) Section 39
(c) Section 34
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
GST is a __ based tax on consumption of goods and services.
(a) Destination
(b) Duration
(c) Destiny
(d) Development
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While computing compensation to states, tax revenue from 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
Non-taxable territory means
(a) Outside taxable territory
(b) Inside taxable territory
(c) Inter-state taxable territory
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
What is the main motive of the government behind the introduction of GST?
(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
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What does “I” stand for in IGST?
(a) Integrated
(b) International
(c) Intra
(d) Internal
What type of tax is levied on the import of goods?
(a) CGST
(b) SGST
(c) CGST and SGST
(d) IGST
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
Appointed day is
(a) Date on which the provisions of this Act shall come into force
(b) Date on which the President assents
(c) Date of which both houses passed the act
(d) Date on which it is sent to the Finance Ministry
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IGST tax levy means
(a) Within the state
(b) Between two states
(c) Only A
Taxable levy in the case of manufacturing under a composite scheme
(a) Two percent
(b) Three per cent
(c) One per cent
(d) Half per cent
ITC available
(a) In the course or furtherance of business
(b) Other than business exp
(c) Only A
Zero Rated Supplies include:
(a) Exports
(b) Imports
(c) SEZs
(d) Both A and C
What is a taxable event under GST?
(a) Supply of goods
(b) Supply of services
(c) Supply of goods and services
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India has chosen the dual mode of GST, the same as __
(a) USA
(b) UK
(c) CANADA
(d) CHINA
GST levied on __
(a) Manufacturers
(b) Retailers
(c) Consumers
(d) All of the above ANSWER:D
What kind of tax is GST?
(a) Direct Tax
(b) Indirect Tax
(c) Depends on the type of goods and services
The 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
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IGST is payable when the supply is __
(a) Interstate
(b) Intra-state
(c) Intra- UT
(d) All of the above
IGST deals with
(a) Composition scheme
(b) Time of supply
(c) Service tax on imported services
(d) All of the above
IGST levy can be levied
(a) Centre
(b) State
(c) Union Territory
(d) Both a and b
What are the taxes levied on the intra-state supply of goods?
(a) CGST
(b) SGST
(c) CGST and SGST
(d) IGST
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Participation of the ITC value chain in a composite scheme
(a) With participation
(b) Without participation
Which of the following taxes is not subsumed in GST?
(a) VAT
(b) Stamp Duty
(c) Entry Tax
(d) Entertainment Tax
A person who has multiple businesses requires registration
(a) Single
(b) Each business separately
An authorised representative is referred in which section?
(a) Section 110
(b) Section 116
(c) Section 119
(d) Section 106
After the introduction of GST, imports become __
(a) more expensive
(b) cheaper
(c) neutral with no change
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Appellate Tribunal is mentioned in which section?
(a) Section 109
(b) Section 105
(c) Section 103
(d) Section 119
Electronic cash ledger and Electronic credit ledger are mentioned in which section?
(a) Section 39
(b) Section 42
(c) Section 49
(d) Section 47
GST stands for
(a) Goods and Service Tax
(b) Goods and Supply Tax
(c) Government Service Tax
(d) General Sales Tax
Exemption from registration is available to
(a) Central & State Govt. Departments
(b) Agriculturists
Deemed exports mentioned in which section
(a) Section 137
(b) Section 147
(c) Section 142
(d) Section 145
