Taxation Mcqs

https://www.examveda.
com/commerce/practice-mcq-question-on-gst/
section 1
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
GST (Goods and Service Tax) - MCQ Questions and Solutions with
Explanations
Home / Commerce / Gst
Section 1 Section 2
1.
GST Stands for
A. Goods and Supply Tax
B. Government Sales Tax
C. Goods and Services Tax
D. General Sales Tax
Answer & Solution Discuss in Board Save for Later
Answer & Solution
Answer: Option C
Solution:
The goods and services tax (GST) is a value-added tax levied on most goods and services sold for
domestic consumption. The GST is paid by consumers, but it is remitted to the government by the
businesses selling the goods and services. In effect, GST is indirect tax provides revenue for the
government. In India it is a comprehensive, multi-stage, destination-based tax that is levied on every
value addition.
2.
In India GST became effective from
A. 1st April, 2017
B. 1st January, 2017
C. 1st July, 2017
D. 1st March, 2017
Answer & Solution
Answer: Option C
Solution:
The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came
into effect on 1st July 2017. It is an Indirect Tax which has replaced many Indirect Taxes in India.
3.
In India GST came effective from July 1st, 2017 India has chosen
_______ model of dual – GST.
A. USA
B. UK
C. Canadian
D. China
E. Japan
Answer & Solution
Answer: Option C
Solution:
India has chosen the Canadian model of dual GST. Only a handful of countries, such as India,
Canada and Brazil, have a dual GST structure.
4.
GST is a _______ based tax on consumption of goods and services.
A. Duration
B. Destination
C. Dividend
D. Development
E. Destiny
Answer & Solution
Answer: Option B
Solution:
In India it is a comprehensive, multi-stage, destination-based tax that is levied on every value
addition.
5.
Indian GST model has _________rate structure.
A. 3
B. 4
C. 5
D. 6
Answer & Solution
Answer: Option B
Solution:
In India GST model has 4 basic rate structure. They are 5%, 12%, 18% and 28%
1234567891011121314
Read More Section(Gst)
Each Section contains maximum 70 questions. To get more questions visit other sections.
 Gst - Section 2
Copyright © 2019 Examveda.com



 About Us |
 Terms & Condition |
 Privacy Policy |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
6.
What does “I” stands for in IGST?
A. International
B. Internal
C. Integrated
D. Intra
Answer & Solution
Answer: Option C
Solution:
Integrated goods and services tax (IGST) would mean the tax levied under IGST Act on the supply of
any goods and / or services in the course of inter-state trade or commerce. Integrated GST shall
also apply to import of goods and services into India.
7.
How many types of taxes will be in Indian GST?
A. 2
B. 3
C. 4
D. 5
E. 6

Answer & Solution
Answer: Option B
Solution:
There are three types of taxes :
1. State GST (SGST)/Union Territory GST (UTGST),
2. Central GST (CGST) and
3. Integrated GST (IGST)
8.
First announcement to introduce GST by 2010, is made in Year
A. 2000
B. 2004
C. 2006
D. 2008
E. 2010
Answer & Solution
Answer: Option C
Solution:
In 2000, idea of adopting GST was first suggested by the Atal Bihari Vajpayee Government. In
February 2006 - First announcement of GST was made by the Union Minister during the 2006-2007
budget, that it would be introduced on April 1, 2010.
9.
Which of the following tax is not subsumed in GST
A. VAT
B. Stamp Duty
C. Entry Tax
D. Entertainment Tax
Answer & Solution
Answer: Option B
Solution:
Subsume means to absorb or include or place within something larger or more comprehensive
group or class. With introduction of GST in India, It subsumed multiple indirect taxes of Center and
State both.
10.
What are the taxes levied on an Intra-State Supply?
A. CGST
B. SGST
C. CGST and SGST
D. IGST
Answer & Solution
Answer: Option C
Solution:
When the place of supply of buyer as well as the location of the seller is in the same state, a seller
must collect both SGST and CGST from the buyer. The SGST gets deposited with the state
government, and CGST gets deposited with the central government.
1234567891011121314

 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
11.
What is the maximum rate prescribed under CGST?
A. 12%
B. 20%
C. 28%
D. 18%
Answer & Solution
Answer: Option B
Solution:
As per section 9 (1) Subject to the provisions of sub-section (2), there shall be levied a tax called
the central goods and services tax on all intra-State supplies of goods or services or both, except on
the supply of alcoholic liquor for human consumption, on the value determined under section 15
and at such rates, not exceeding twenty per cent., as may be notified by the Government on the
recommendations of the Council and collected in such manner as may be prescribed and shall be
paid by the taxable person.
12.
Which of the following taxes will be levied on Imports of goods and

services?
A. CGST
B. SGST
C. IGST
D. Exempt
Answer & Solution
Answer: Option C
No explanation is given for this question Let's Discuss on Board
13.
Maximum rate prescribed under UTGST/SGST?
A. 14%
B. 20%
C. 28%
D. 30%
Answer & Solution
Answer: Option B
14.
How will the goods and services be classified under GST regime?
A. SAC/HSN Code
B. HSN Code
C. SAC Code
D. GST Code
E. None of above
Answer & Solution
Answer: Option A
Solution:
Goods - HSN Code
Service -SAC
15.
HSN Code Stands for
A. Home Shopping Network

B. Harmonised System of Nomenclature
C. Harmonised System Number
D. Home State Number
Answer & Solution
Answer: Option B
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
16.
SAC Code Stands for
A. Services Accounting Code
B. Software Accounting Code
C. System Accounting Code
D. Service Application Code
Answer & Solution
Answer: Option A
17.
Can a person apply for registration without PAN
A. No
B. Yes
Answer & Solution
Answer: Option A
Solution:
PAN is mandatory to apply for GST registration (except for non-resident person who can get GST
registration on the basis of other documents)
18.
Is there any ceiling limit prescribed on the rate under IGST?
A. 12%
B. 18%
C. 28%
D. 40%
Answer & Solution
Answer: Option D
19.
Which of the following is an intrastate supply?
A. Supplier of goods located in Nagpur and place of supply of goods SEZ located in Mumbai
B. Supplier of goods located in Kolkata and place of supply of goods in Bangalore
C. Supplier of goods located in Goa and place of supply of goods in Goa
D. All the above
Answer & Solution
Answer: Option C
20.
Place of supply in case of installation of elevator is
A. Where the movement of elevator commences from the supplier’s place.
B. Where the delivery of elevator is taken.
C. Where the installation of elevator is made.
D. Where address of the recipient is mentioned in the invoice.
Answer & Solution
Answer: Option C
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
21.
What is location of supply in case of importation of goods?
A. Customs port where the goods are cleared
B. Location of the importer
C. Place where the goods are delivered after clearance from customs port
D. Owner of the goods
Answer & Solution
Answer: Option B
22.
What is the threshold limit of turnover in the preceding financial year for
opting to pay tax under composition scheme?
A. Rs.20 lacs
B. Rs.50 lacs
C. Rs.75 lacs
D. None of the above
Answer & Solution
Answer: Option C
Solution:
Businesses dealing only in goods can only opt for composition scheme. Services providers have
been kept outside the scope of this scheme. However, restaurant sector taxpayers may also opt for
the scheme. This holds true if your annual turnover is below Rs 75 Lakhs.
23.
What is the rate applicable under CGST to a registered person being a

hotelier opting to pay taxes under composition scheme?
A. 1%
B. 0.5%
C. 2.5%
Answer & Solution
Answer: Option C
Solution:
A registered taxpayer, who is registered under the Composite Scheme will pay tax at a rate not
more than 1% for manufacturer, 2.5% for restaurant sector and 0.5% for other suppliers of turnover.
24.
Who are mandatorily required to obtain registration?
A. Every Person
B. For an agriculturist or exclusively engaged in supplying exempt goods or services is not required and
for others if specified threshold limit exceeds in a financial year
C. Not required for an agriculturist or person exclusively engaged in supplying exempt goods or services
D. No, only if specified threshold exceeds in a financial year then only need to obtain
Answer & Solution
Answer: Option B
25.
Which one of the following is true?
A. A person can collect tax only he is registered
B. Registered person not liable to collect tax till his aggregate turnover exceeds threshold limit
C. A person can collect the tax during the period of his provisional registration
Answer & Solution
Answer: Option A
Solution:
Only a registered taxable person can collect GST. The taxable person must prominently indicate
the GST amount on tax invoices.
1234567891011121314

 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
26.
Which form is to be used for registration?
A. Form GSTR -1A
B. Form GSTR – 2
C. Form GST REG-01
D. Form GST REG

Answer & Solution
Answer: Option C
Solution:
Application for Registration (Other than a non-resident taxable person, a person supplying online
information and data base access or retrieval services from a place outside India to a non-taxable
online recipient referred to in section 14 of the Integrated Goods and Services Tax Act, a person
required to deduct tax at source under section 51 and a person required to collect tax at source
under section 52))
27.
PAN issued under the Income Tax Act is mandatory for grant of
registration.
A. It is one of the document listed.
B. Yes, but non-resident taxable person may be granted registration on the basis of any other document.
C. No, for persons who are required to deduct tax at source u/s 51 shall have TAN in lieu of PAN.
D. Both (b) and (c)
Answer & Solution
Answer: Option D
Solution:
As per Section 25(6) of the CGST/SGST Act every person shall have a Permanent Account
Number issued under the Income Tax Act,1961(43 of 1961) in order to be eligible for grant of
registration. However as per the proviso to the aforesaid section 25(6), a person required to deduct
tax under Section 51, may have, in lieu of a PAN, a Tax Deduction and Collection Account Number
issued under the said Income Tax Act, in order to be eligible for grant of registration. Also, as per
Section 25(7) PAN is not mandatory for a non- resident taxable person who may be granted
registration on the basis of any other document as maybe prescribed.
28.
For an E-commerce operator registration threshold limit is?

A. Rs.20 lacs
B. Rs.50 lacs
C. Rs.75 lacs
D. None of above
Answer & Solution
Answer: Option D
Solution:
GST registration is mandatory for E-commerce operator or aggregator
29.
What is the validity of the registration certificate?
A. Five years
B. Ten years
C. No validity
D. Valid till it is cancelled
Answer & Solution
Answer: Option D
30.
Which of the following requires amendment in the registration

certificate?
A. Change of name of the registered person
B. Change in constitution of the registered person
C. Switching over form composition scheme to normal scheme or vice versa.
D. All of the above
Answer & Solution
Answer: Option D
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
31.
How a person can apply for registration?
A. Filing FORM GST REG-01 along with necessary documents with the jurisdictional proper officer.
B. Filing FORM GST REG-01 electronically in the common portal and uploading the required documents
along with the application.
C. Uploading necessary documents electronically in the common portal and also submitting manually to
the jurisdictional proper officer.
Answer & Solution
Answer: Option B
32.
Under what circumstances physical verification of business premises is

mandatory?
A. Physical verification of business premises is a discretionary power of proper officer.
B. If additional information for registration asked by the proper officer is not submitted within specified
time.
C. If certificate of registration is obtained on misrepresentation of facts.
D. If photograph of the business premise is not uploaded in the common portal within specified time.
Answer & Solution
Answer: Option A
33.
Business which has centralized registration under existing Acts
A. Shall obtain a centralized registration under GST Law.
B. Shall obtain separate registration in each state from where it is making taxable supplies.
C. Shall obtain registration on temporary basis.
D. No need to apply for registration under GST.
Answer & Solution
Answer: Option B
34.
Can a registered person opt for composition scheme only for one out of
his 5 business different units having same Permanent Account
Number?
A. Yes
B. No
C. Yes, with prior approval of the Central Government
D. Yes, subject to prior approval of the GST Council
Answer & Solution
Answer: Option B
35.
Can a registered person under Composition Scheme claim input tax

credit?
A. Yes
B. No
C. Input tax credit on inward supply of goods only can be claimed
D. Input tax credit on inward supply of services only can be claimed
Answer & Solution
Answer: Option B
Solution:
No, a Composition Dealer is not allowed to avail input tax credit of GST paid to their supplier.
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
36.
When does liability to pay GST arise in case of supply of goods?
A. On raising of invoice
B. At the time of supply of goods
C. On receipt of payment
D. Earliest of any of above

Answer & Solution
Answer: Option D
37.
What is date of receipt of payment?
A. Date of entry in the books
B. Date of payment credited into bank account
C. Earlier of (a) and (b)
D. Date of filing of return
Answer & Solution
Answer: Option C
38.
The value of supply of goods and services shall be the
A. Transaction value
B. MRP
C. Market Value
D. None of above
Answer & Solution

Answer: Option A
39.
When can the transaction value be rejected for computation of value of

supply
A. When the buyer and seller are not related and price is not the sole consideration
B. When the buyer and seller are related or price is not the sole consideration
C. It can never be rejected
D. When the goods are sold at very low margins
Answer & Solution
Answer: Option B
40.
What deductions are allowed from the transaction value
A. Discounts mention on invoice
B. Packing Charges mention on invoice
C. Any amount paid by customer on behalf of the supplier
D. Freight charges mention on invoice
Answer & Solution
Answer: Option A
Solution:
Discounts given before or at the time of supply will be allowed as deduction from transaction value.
Such discounts must be clearly mentioned on the invoice.
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
41.
Is definition of Inputs includes capital goods

A. Yes
B. No
Answer & Solution
Answer: Option B
42.
Whether credit on capital goods can be taken immediately on receipt of

the goods?
A. Yes
B. After usage of such capital goods
C. After capitalizing in books of Accounts
Answer & Solution
Answer: Option A
43.
When can a registered person avail credit on inputs?
A. on receipt of goods
B. on receipt of documents
C. Both
Answer & Solution
Answer: Option C
44.
In case supplier has deposited the taxes but the receiver has not
received the goods, is receiver entitled to avail credit?
A. Yes, it will be automatically show in recipient monthly returns.
B. No, as one of the conditions of section 16(2) is not fulfilled.
C. Yes if the receiver can prove later that goods are received subsequently
Answer & Solution
Answer: Option B
45.
Input tax credit on capital goods and Inputs can be availed in
A. In thirty six installments
B. In twelve installments
C. In one installment
D. In six installments
Answer & Solution
Answer: Option C
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
46.
The time limit to pay the value of supply with taxes
A. 90 days
B. 6 months
C. 180 days
D. 365 dyas
Answer & Solution
Answer: Option C
47.
Whether credit can be availed without actual receipt of goods where

goods are transferred through transfer of document of title before or
during the movement of goods?
A. Yes
B. No
C. Yes, in specific instances
D. Can be availed only after transfer of document of title after movement of goods
Answer & Solution
Answer: Option C
48.
Whether depreciation on tax component of capital goods and Plant

and Machinery and whether input tax credit (ITC) is Permissible?
A. Yes
B. No
C. Input tax credit is eligible if depreciation on tax component is not availed
Answer & Solution
Answer: Option C
49.
For capital goods, proportionate credit is allowed
A. for business and non-business purpose
B. for business or non- business purpose
C. both of the above

D. none of the above
Answer & Solution
Answer: Option A
50.
Banking company or Financial Institution have an option of claiming

ITC:
A. Actual Credit or 50% credit
B. Only 50% Credit
C. Only cctual credit
D. Actual credit and 50% credit
Answer & Solution
Answer: Option A
Solution:
Banking companies or financial institutions have an option for claiming the ITC on the deposits and
loans or advances to comply with actual rules or claim the 50% of the total ITC available in each
month and the rest will lapse.
1234567891011121314

 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
51.
Can Banking Company or Financial Institution withdraw the option of

availing actual credit or 50% credit anytime in the financial year?
A. Yes
B. No

Answer & Solution
Answer: Option B
Solution:
According to Rule 38 of Central Goods and Service Tax Act, Banks, financial institutions and non
banking financial companies (NBFC) engaged in business of deposits, extending loans or advances
have an option to avail an amount equal to fifty per cent of the eligible input tax credit on inputs,
capital goods and input services in that month or to take Input tax credit only on purchases made for
selling taxable or zero rated goods or services and leave out the tax paid on purchases made for
exempted supplies. Option once exercised can not be changes during the financial year.
52.
Any input tax paid on purchase of goods or services by an assessee

for employees is eligible for ITC?
A. No
B. Yes
C. Yes, on the services notified which are obligatory for an employer to provide to its employees under
any law for the time being in force
D. Not applicable
Answer & Solution
Answer: Option C
53.
Mr. A obtains new registration, voluntary registration, change of

scheme from composition to regular scheme and from exempted
goods/services to taxable goods/services. He can avail credit on
inputs lying in stock. What is the time limit for taking said credit
A. 1 year from the date of invoice
B. 3 year from the date of invoice
C. 5 year from the date of invoice
Answer & Solution
Answer: Option A
54.
Can Mr. A avail credit on Input services or capital goods held in stock,
in case of new registration/voluntary Registration
A. Yes
B. No
C. Yes on Input services only
D. Yes on capital goods only
Answer & Solution
Answer: Option B
55.
Is Input tax to be reversed in case of supply of capital goods
A. Yes fully
B. No
C. Yes, to extent of credit taken as reduced by prescribed percentage or tax on transaction value whichever
is higher
D. Yes to the extent of transaction value of such goods
Answer & Solution
Answer: Option C
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
56.
The time limit beyond which if goods are not returned, the input sent
for job work shall be treated as supply
A. One year
B. Three years
C. Six months
D. Five years
Answer & Solution
Answer: Option A
57.
The time limit beyond which if goods are not returned, the capital
goods sent for job work shall be treated as supply
A. One year
B. Three Years
C. Six months
D. Five years
Answer & Solution
Answer: Option B
58.
Is the principal entitled for credit of goods though he has not received
the goods and has been sent to job worker directly by vendor
A. Yes
B. No
C. Yes vendor should be located in same place

Answer & Solution
Answer: Option A
59.
A person is entitled to take credit of input tax as self-assessed in the

return and credited to Electronic credit ledger on
A. Final basis
B. Provisional basis
C. Partly Provisional and partly final basis
Answer & Solution
Answer: Option B
60.
Provisional Input tax credit can be utilized against
A. Any Tax liability
B. Self Assessed output Tax liability
C. Interest and Penalty
D. Fine
Answer & Solution
Answer: Option B
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
61.
Matching of Input Tax credit on inward supply by recipient is

undertaken with
A. Monthly return filed by the supplier
B. Outward supply filed by the supplier
C. Invoices maintained by the supplier
Answer & Solution
Answer: Option B
62.
If there is Mis-match of supplier’s outward supply and recipient’s

claim for Input Tax credit on the same transaction
A. It shall be added as output tax liability in the hands of receiver.
B. It shall be reduced as output tax liability in the hands of receiver.
C. It shall be increased as input tax credit in the hands of receiver.
D. It shall be deceased as input tax credit in the hands of supplier.

Answer & Solution
Answer: Option A
63.
Input Tax credit as credited in Electronic Credit ledger can be utilized

for
A. Payment of Interest
B. Payment of penalty
C. Payment of Fine
D. Payment of Taxes
Answer & Solution
Answer: Option D
64.
Tax invoice must be issued by________
A. Every supplier
B. Every taxable person
C. Registered persons not paying tax under composition scheme
D. All the above

Answer & Solution
Answer: Option C
65.
A bill of supply can be issued in case of inter-State and intra-State:
A. Exempted supplies
B. Supplies by composition suppliers;
C. Supplies to unregistered persons;
D. None of the above.
Answer & Solution
Answer: Option A
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
66.
An invoice must be issued:
A. At the time of removal of goods.
B. On transfer of risks and rewards of the goods to the recipient;
C. On receipt of payment for the supply;
D. Earliest of the above dates.
Answer & Solution

Answer: Option A
67.
An acknowledgement must be given on receipt of advance payment in

respect of supply of goods or services:
A. Yes, in the form of a proforma invoice;
B. Yes, as a receipt voucher.
C. Yes, the invoice must be raised to that extent;
Answer & Solution
Answer: Option B
68.
A continuous supply of goods requires one of the following as a

must:
A. The goods must be notified by the Commissioner in this behalf;
B. The contract for supply lasts for a minimum period of 3 months;
C. The supply is made by means of a wire, cable, pipeline or other conduit;
D. Supplier invoices the recipient on a regular or periodic basis.

Answer & Solution
Answer: Option D
69.
The registered recipient must issue an invoice in the following cases:
A. The supplier fails to issue an invoice;
B. The supplier is unregistered.
C. The goods or services received notified for tax on reverse charge basis;
D. All of the above.
Answer & Solution
Answer: Option B
Solution:
(B) The supplier is unregistered and/or (C) The goods or services received are notified for tax on
reverse charge basis
70.
In case of goods sent on sale on approval basis, invoice has to be

issued:
A. while sending the goods; another Invoice has to be issued by the recipient while rejecting the goods;
B. while sending the goods but the recipient can take credit only when the goods are accepted by him;
C. when the recipient accepts the goods or six months from the date of supply whichever isearlier.
D. when the recipient accepts the goods or three months from the date of supply whichever is earlier.
Answer & Solution
Answer: Option C
1234567891011121314
 Gst - Section 2



 About Us |
 Contact Us
Section2
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
1.
The books and other records U/S 35 are to be maintained at
A. Place where the books and accounts are maintained
B. Place of address of the Proprietor/ Partner/Director/Principal Officer
C. Principal place of business mentioned in the Certificate of Registration
D. Any of the above
Answer & Solution
Answer: Option C
2.
Accounts are required to be maintained in
A. Manual form
B. Electronic form
C. Manual and electronic form
D. Manual or electronic form

Answer & Solution
Answer: Option D
3.
Can all the records be maintained in an electronic form?
A. Yes
B. Only if authenticated by digital signature
C. Few records
D. No
Answer & Solution
Answer: Option B
4.
First Return filed under GST is
A. GSTR-1
B. GSTR-3A
C. GSTR-2
D. GSTR-3B
E. GSTR-4
Answer & Solution
Answer: Option D
Solution:
GST council introduced GSTR-3B form for filing returns for July and August 2017.
5.
The details of outward supplies of goods or services shall be

submitted by
A. 10th of the succeeding month
B. 18th of the succeeding month
C. 15th of the succeeding month
D. 20th of the succeeding month
Answer & Solution
Answer: Option A
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
6.
Every registered taxable person shall be entitled to take credit of input

tax in his return and such input tax credit shall be credited to
A. Personal Ledger Account
B. Refund account
C. Electronic Cash Ledger
D. Electronic Credit Ledger

Answer & Solution
Answer: Option D
7.
Any registered taxable person who fails to furnish the details and file
the return within the due date prescribed shall be liable to
A. Interest at the rate of 1% per month
B. Late fee of Rs. 100 for every day up to Rs. 5000
C. Both (a) and (b)
Answer & Solution
Answer: Option B
Solution:
It has been decided that for subsequent months, i.e. October 2017 onwards, the amount of late fee
payable, by a taxpayer whose tax liability for that month was „NIL‟, will be Rs. 20/- per day (Rs. 10/-
per day each under CGST & SGST Acts) instead of Rs. 200/- per day (Rs. 100/- per day each under
CGST & SGST Acts). For other taxpayers, whose tax liability for that month was not „NIL‟, late fee
payable will be Rs. 50/- per day (Rs. 25/- per day each under CGST & SGST Acts) instead of Rs.
200/- per day (Rs. 100/- per day each under CGST & SGST Acts). Notification No. 64/2017-CT
dated 15th November 2017 has already been issued in this regard.
8.
Which of these registers/ledgers are maintained online?

A. Tax liability register
B. Credit ledger
C. Cash ledger
D. All of them
Answer & Solution
Answer: Option D
9.
Payment made through challan will be credited to which

registers/ledgers?
A. Electronic Tax liability register
B. Electronic Credit ledger
C. Electronic Cash ledger
D. All of them
Answer & Solution
Answer: Option C
10.
Balance in electronic credit ledger can be utilized against which
liability?
A. Output tax payable
B. Interest payable
C. Penalty
D. All of above
Answer & Solution
Answer: Option A
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
11.
Balance in electronic credit ledger under IGST can be used against

which liability?
A. IGST Liability only
B. IGST and CGST liability
C. IGST, CGST and SGST liability
D. None of them
Answer & Solution
Answer: Option C
12.
Balance in electronic credit ledger under CGST can be used against
which liability?
A. CGST Liability only
B. CGST and IGST liability
C. CGST, IGST and SGST liability
D. None of them
Answer & Solution
Answer: Option B
13.
Balance in electronic credit ledger under SGST can be used against

which liability?
A. SGST Liability only
B. SGST and IGST liability
C. SGST, IGST and CGST liability
D. None of them
Answer & Solution
Answer: Option B
14.
What is the due date for payment of tax?
A. Last day of the month to which payment relates
B. Within 10 days of the subsequent month
C. Within 20 days of the subsequent month
D. Within 15 days of the subsequent month
Answer & Solution
Answer: Option C
15.
What is the rate of TDS?
A. 1%
B. 4%
C. 5%
D. 18%
Answer & Solution
Answer: Option A
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
16.
Who is considered as an e-commerce operator, who
_____________digital or electronic facility or platform for electronic
commerce
A. Owns
B. Operates
C. Manages
D. Any of the above
Answer & Solution
Answer: Option D
17.
When an e-commerce operator is required to register under GST?
A. When he is required to collect tax at source u/s 52
B. When his aggregate turnover exceeds the threshold limit
C. When he is required to discharge tax on the taxable supply or services made by the supplier through
him u/s 9(5)
D. It is mandatory to register irrespective of the threshold limit.
Answer & Solution
Answer: Option D
18.
Refunds will not be allowed in cases of:-
A. Exports made on payment of tax
B. Exports made without payment of tax
C. Where tax on inputs are higher than tax on outputs
D. All of the above
Answer & Solution
Answer: Option A
19.
The Tourist can claim Refund of following taxes paid
A. CGST and SGST/UTGST on supply of Goods and services
B. IGST on supply of goods consumed in Jammu & Kashmir
C. Tax paid on the supply of scotch to be taken out of India
Answer & Solution
Answer: Option D
20.
How many countries have dual – GST model?
A. 5
B. 8
C. 10
D. 14
E. None of these
Answer & Solution
Answer: Option E
Solution:
Till now Canada only has dual GST model but now India also started to use dual-GST model.
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
21.
Which of the following country is the first one to implement GST?
A. USA
B. France
C. China
D. Switzerland
E. Germany
Answer & Solution

Answer: Option B
Solution:
France implemented GST in 1954.
22.
Which of the following country has the maximum GST tax slab?
A. Greece
B. China
C. USA
D. Australia
E. India
Answer & Solution
Answer: Option E
Solution:
India has the maximum tax slab (28%) compared to other countries.
23.
Which of the following country has the second highest tax slab?
A. Australia
B. Netherland
C. Argentina
D. Ireland
E. South Korea
Answer & Solution
Answer: Option C
Solution:
Argentina has the second highest tax slab 27%
24.
The tax IGST charged by _________Government.
A. Central
B. State
C. Concerned department
D. Both a and b
E. All a, b and c
Answer & Solution
Answer: Option A
25.
The maximum rate prescribed under IGST now is _______.
A. 5%
B. 12%
C. 18%
D. 28%
E. No such limit
Answer & Solution
Answer: Option D
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
26.
In India GST was first proposed in _______.
A. 1993
B. 1996
C. 1999
D. 2000
E. 2002
Answer & Solution
Answer: Option D
27.
GST comes under which amendment bill?
A. 118
B. 120
C. 122
D. 115
E. 129
Answer & Solution
Answer: Option C
28.
Under which Act GST was introduced?
A. 100
B. 101
C. 102
D. 103
E. 104
Answer & Solution
Answer: Option B
29.
GST council formation based on Article number _______.
A. 279A
B. 289A
C. 266A
D. 255A
E. 286A
Answer & Solution
Answer: Option A
30.
The headquarters of GST council is _______.
A. Mumbai
B. New Delhi
C. Ahmadabad
D. Hyderabad
E. Lucknow
Answer & Solution

Answer: Option B
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
31.
Who is the chairman of GST council?
A. President of India
B. Prime Minister
C. Finance Minister
D. RBI Governor
E. Finance secretary
Answer & Solution
Answer: Option C
Solution:
Finance Minister (currently Arun Jaitley) is the chairman of GST council
32.
_______ is GST Finance Ministers First Panel Chairman.
A. Amit Mitra
B. Amit Malhodra
C. Amit Chandresekar
D. Amit Sastri
E. Amit kohli

Answer & Solution
Answer: Option A
Solution:
Amit Mitra (West Bengal Finance Minister) is the Finance Ministers Panel Chairman.
33.
_______ is the first state to ratify GST bill.
A. Andhra Pradesh
B. Assam
C. Arunachal Pradesh
D. Bihar
E. Telangana
Answer & Solution
Answer: Option B
34.
_______ is the first state that passed GST bill.
A. Andhra Pradesh
B. Gujarat
C. Uttar Pradesh
D. Bihar
E. Telangana
Answer & Solution
Answer: Option E
Solution:
Telangana was the first state to pass the State GST Bill on 9th April, 2017 Assam was the first state
to ratify the GST Bill on 12th August, 2016
35.
GST threshold limit of North Eastern States is _______ lakhs
A. 5
B. 10
C. 12
D. 15
E. 20
Answer & Solution
Answer: Option B
Solution:
GST will apply when turnover of the business exceeds Rs 20 lakhs (Limit is Rs 10 lakhs for the
North Eastern States)
12345678
 Gst - Section 1



 About Us |
 Contact Us
Login
 Home
 Aptitude
 English
 Reasoning
 DI
 GK
 Current Affairs
 Interview
 Computer
 Programming
 Engineering
 More
 Ask Question
Explanations
Section 1 Section 2
36.
GST threshold limit of Normal States is _______ lakh
A. 12
B. 15
C. 20
D. 25
E. 30
Answer & Solution
Answer: Option C
Solution:
GST will apply when turnover of the business exceeds Rs 20 lakhs (Limit is Rs 10 lakhs for the
North Eastern States)
37.
The Central Board of Excise and Customs (CBEC) announced that

every year _______ will be considered as GST Day.
A. 1st April
B. 1st March
C. 1st June
D. 1st July
E. 1st January
Answer & Solution
Answer: Option D
38.
Smart Phones will be taxed at _______ under GST.
A. 0%
B. 5%
C. 12%
D. 18%
E. 28%
Answer & Solution
Answer: Option C
39.
Under GST, Insurance is taxed _______ percent.
A. 0%
B. 5%
C. 12%
D. 18%
E. 28%

Answer & Solution
Answer: Option D
40.
Who will notify the rate of tax to be levied under CGST?
A. GST Council suo moto
B. Central Government suo moto
C. State Government suo moto
D. Central Government as per the recommendations of the GST Council
Answer & Solution
Answer: Option D
12345678
 Gst - Section 1



 About Us |
 Contact Us

Taxation Mcqs

Hochgeladen von

Dokumentinformationen

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

Taxation Mcqs

Hochgeladen von

Copyright:

Verfügbare Formate

https://www.examveda.

GST Stands for

A. Goods and Supply Tax

B. Government Sales Tax

C. Goods and Services Tax

D. General Sales Tax

Answer & Solution Discuss in Board Save for Later

Answer & Solution

In India GST became effective from

A. 1st April, 2017

B. 1st January, 2017

C. 1st July, 2017

D. 1st March, 2017

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Answer & Solution

GST is a _______ based tax on consumption of goods and services.

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Indian GST model has _________rate structure.

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Read More Section(Gst)

What does “I” stands for in IGST?

Answer & Solution Discuss in Board Save for Later

Answer & Solution

How many types of taxes will be in Indian GST?

Answer & Solution Discuss in Board Save for Later

First announcement to introduce GST by 2010, is made in Year

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Which of the following tax is not subsumed in GST

Answer & Solution Discuss in Board Save for Later

Answer & Solution

What are the taxes levied on an Intra-State Supply?

C. CGST and SGST

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Read More Section(Gst)

What is the maximum rate prescribed under CGST?

Answer & Solution

Which of the following taxes will be levied on Imports of goods and

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Maximum rate prescribed under UTGST/SGST?

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Answer & Solution Discuss in Board Save for Later

Answer & Solution

HSN Code Stands for

A. Home Shopping Network

C. Harmonised System Number

D. Home State Number

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Read More Section(Gst)

SAC Code Stands for

A. Services Accounting Code

B. Software Accounting Code

C. System Accounting Code

D. Service Application Code

Answer & Solution Discuss in Board Save for Later

Answer & Solution

Can a person apply for registration without PAN