This quiz works best with JavaScript enabled. Home > Finance > Taxation > Goods And Services Tax > Goods And Services Tax – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Goods And Services Tax Quiz 1 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Tax imposed under GST System is: A) First Point. B) Multiple Point. C) Single Point. D) Last Point. Show Answer Correct Answer: B) Multiple Point. 2. Select incorrect one from the followings in reference of tax rates under GST.A. CGST= IGST+SGSTB. IGST= CGST+SGSTC. IGST= CGST+UTGSTD. CGST=SGST or UTGST A) B. B) D. C) C. D) A. Show Answer Correct Answer: D) A. 3. Goods and Services Tax is: A) Indirect Tax. B) Direct Tax. Show Answer Correct Answer: A) Indirect Tax. 4. What is the validity of the registration certificate? A) Five years. B) No validity. C) Valid till it is cancelled. D) One year. Show Answer Correct Answer: C) Valid till it is cancelled. 5. Goods Bought by ABC Ltd. Banguluru from XYZ Ltd. of Haryana. which GST will be imposed on the above transaction? A) CGST. B) SGST. C) IGST. D) All. Show Answer Correct Answer: C) IGST. 6. What is the full for of GST A) Goods and services Tax. B) Good and safe Tax. C) Great and safe tax. D) Gabbar Sher tax. Show Answer Correct Answer: A) Goods and services Tax. 7. What would be the tax rate applicable in case of composite supply? A) Tax rate as applicable on principal supply. B) Tax rate as applicable on ancillary supply. C) Rate applicable on this supply. D) None of the above. Show Answer Correct Answer: A) Tax rate as applicable on principal supply. 8. Stamp Duty and Duties of Excise on medical and toilet preparation as mentioned in the union list shall be levied by GOI but collected by Govt. A) Central Govt. B) State Govt. C) UT. D) B and C. Show Answer Correct Answer: D) B and C. 9. GST is to be imposed on the following except on: A) Fixed asset bought. B) Rent Paid. C) Received money from a debtor. D) Goods bought. Show Answer Correct Answer: C) Received money from a debtor. 10. What are different types of supplies covered under the scope of supply? A) Supplies consideration made with consideration. B) Supplies made without consideration. C) "a" and "b". D) None of the above. Show Answer Correct Answer: C) "a" and "b". 11. Mr. Krishan, a supplier of Delhi, sold goods to Mr. Gobind of Rajasthan of a sum of Rs. 100000. The applicable GST rate on the said goods is 5%. While drawing bill, which combination of GST will be applied by Mr. Krishan.Select the correct from the following. A) CGST+IGST. B) IGST. C) SGST+IGST. D) CGST+SGST. Show Answer Correct Answer: B) IGST. 12. Output IGST is imposed on: A) Sales. B) Purchases. Show Answer Correct Answer: A) Sales. 13. Who is the chairperson of GST COuncil? A) Home Minister. B) Union Finance MInister. C) Prime Minister. D) GST Commissioner. Show Answer Correct Answer: B) Union Finance MInister. 14. Goods & Services Tax is paid by whom under reverse charge? A) Supplier. B) Recipient. C) Job Worker. D) None of above. Show Answer Correct Answer: B) Recipient. 15. When is a supply of goods to take place inter state? A) Transfer of goods from one to another state. B) Import of goods. C) Export of goods. D) All of above. Show Answer Correct Answer: D) All of above. 16. Mr. Vishal of Chandigarh (A Union Territory) sold goods to Mr. Vinayak of Chandigarh. Which type of GST to be levied. Select correct one from the followings. A) UTGST+CGST. B) IGST+UTGST. C) CGST+UTSGT. D) IGST. Show Answer Correct Answer: C) CGST+UTSGT. 17. What are the factors differentiating composite supply & mixed supply? A) Nature of bundling i.e. artificial. B) Existence of principal supply or natural. C) "a" and "b". D) None of the above. Show Answer Correct Answer: C) "a" and "b". 18. The value of supply of goods and services shall be the A) Transaction value. B) MRP. C) Market Value. D) None of above. Show Answer Correct Answer: A) Transaction value. 19. GST included CGST A) False. B) True. Show Answer Correct Answer: B) True. 20. Supply includes: A) Supply of goods. B) Supply of goods or/& Services both. C) Supply of Services. D) None of above. Show Answer Correct Answer: B) Supply of goods or/& Services both. 21. What is the maximum rate prescribed under CGST Act? A) 20%. B) 12%. C) 18%. D) 28%. Show Answer Correct Answer: A) 20%. 22. The tax which was not merged into GST A) Basic Customs Duty. B) Excise duty. C) Countervailing Duty. D) Purchase tax. Show Answer Correct Answer: A) Basic Customs Duty. 23. Mr. Suraj of Daman and Dieu (Union Territory) sold goods to Mr. Hemant of Chandigarh (Union Territory). Which type of tax will be levied. Select correct one. A) IGST. B) CGST+UTGST. C) IGST+UTGST. D) None of above. Show Answer Correct Answer: A) IGST. 24. In which year Goods and Services Tax was enacted and implemented in India? A) 2011. B) 2018. C) 2015. D) 2017. Show Answer Correct Answer: D) 2017. 25. IGST is imposed on A) Intra-state transaction. B) Inter-state transactions. Show Answer Correct Answer: B) Inter-state transactions. 26. Which authority regulate indirect taxes in India? A) CBDT. B) SEBI. C) CBI. D) CBIC. Show Answer Correct Answer: D) CBIC. 27. Mr. Richard, a trader in Delhi has opted for composition scheme of taxation under GST. Determine the rate of total GST payable by him under composition scheme: A) 0.5% CGST & 0.5% SGST. B) 2.5% CGST & 2.5% UTGST. C) 5% OUTPUT. D) 5% IGST. Show Answer Correct Answer: A) 0.5% CGST & 0.5% SGST. 28. Goods and Services Tax has been conferred by Article 246A of the Constitution by making ..... amendment in the Constitution. A) 100. B) 99. C) 101. D) 102. Show Answer Correct Answer: C) 101. 29. Tax whose burden can be shifted to others A) Direct Tax. B) Indirect Tax. C) Both. D) None of them. Show Answer Correct Answer: B) Indirect Tax. 30. Ms. Gaurisha (Karol Bagh, Delhi) sold goods to Mr. Raj (Saket, Delhi). Which type of GST to be levied while drawing invoice. Select Correct One. A) CGST+SGST. B) CGST+IGST. C) IGST+SGST. D) IGST+UTGST. Show Answer Correct Answer: A) CGST+SGST. Next →Related QuizzesTaxation QuizzesFinance QuizzesGoods And Services Tax Quiz 2 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books