This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Polity > Finance > Gst > Gst Council – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 1 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 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. Show Answer Correct Answer: B) Indirect Tax. 2. GST (tax) credits is classified as; A) Non-current asset. B) Non-current liability. C) Current liability. D) Current asset. Show Answer Correct Answer: D) Current asset. 3. The maximum rate applicable for SGST/UTGST is? A) 28. B) 14. C) 30. D) 20. Show Answer Correct Answer: D) 20. 4. Mr. Ajay buys a chair marked at Rs. 10, 000 at a discount of 15% on the marked price, the rate of tax being 18%. Calculate the tax Mr. Ajay has to pay for this purchase. A) Rs. 900. B) Rs. 1530. C) Rs. 1800. D) Rs. 810. Show Answer Correct Answer: B) Rs. 1530. 5. The MRP of a book is 2000. The shopkeeper gave a discount of 10% & GST rate was 10% . Calculate the total amount on the bill. A) 1900. B) 2000. C) 1990. D) 1980. Show Answer Correct Answer: D) 1980. 6. What do you mean by Cascading Effect? A) Tax on Tax. B) Multiple Tax. C) Goods and Services Tax. D) Input Tax Credit. Show Answer Correct Answer: A) Tax on Tax. 7. Who is the present RBI governer? A) Shaktikanta Das. B) Raghuram Rajan. C) Urjit Patel. D) Manmohan Singh. Show Answer Correct Answer: A) Shaktikanta Das. 8. My business is registered in Mumbai and am flying from Mumbai to Bengaluru. After crossing Maharashtra Borders as I enter Karnataka state, I will be charged ..... on Meals. And can I claim its ITC? A) IGST, No. B) IGST, Yes. C) CGST and SGST, Yes. D) CGST and SGST, No. Show Answer Correct Answer: D) CGST and SGST, No. 9. WHO UNFURLS OUR INDIAN FLAG ON 73rd, 74th independence DAY? A) RAM NATH KOVIND. B) MANMOHAN SINGH. C) NARANDRA MODI. D) NONE OF THESE.. Show Answer Correct Answer: C) NARANDRA MODI. 10. GST Stands for:- A) Good and Supply Tax. B) Government Sale Tax. C) Goods and Services Tax. D) General Sales Tax. Show Answer Correct Answer: C) Goods and Services Tax. 11. Determine the time of supply of goods A) Date of issue of Invoice by supplier-21st July. B) Date of record of payment in books of account-17th June. C) Date of receipt of payment in bank account-15th June. D) Date of dispatch of goods by the supplier-22nd July. Show Answer Correct Answer: A) Date of issue of Invoice by supplier-21st July. 12. Assessable Value of a machine is Rs.15, 000 and effective rate of GST is 12%. GST shall be- A) Rs.2304. B) Rs.1800. C) Rs.1931. D) Rs.2250. Show Answer Correct Answer: B) Rs.1800. 13. 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. Show Answer Correct Answer: C) Earlier of (a) and (b). 14. The tax invoice of a telecom service in Meerut shows cost of services provided by it as Rs. 750. If the GST rate is 18%, find the amount of the bill. A) 925. B) 885. C) 638.50. D) 1005. Show Answer Correct Answer: B) 885. 15. Goods sold from Solapur to Surat is the example of ..... A) GST. B) SGST. C) CGST. D) IGST. Show Answer Correct Answer: D) IGST. 16. Entries are not getting including if we Include it from GSTR-1 and GSTR-3B? A) Entries should be Re passsed. B) Entries should be Re Accepted. C) Entries once excluded cannot be included. D) Need to identify that whether the entry is been exluded from GSTR-1 or GSTR-3B. Show Answer Correct Answer: D) Need to identify that whether the entry is been exluded from GSTR-1 or GSTR-3B. 17. GST payables is classified as; A) Non-current asset. B) Current liability. C) Non-current liability. D) Current asset. Show Answer Correct Answer: B) Current liability. 18. What is the full form of HSN in GST? A) Harmonized System Nomenclature. B) Humanity System Numbers. C) High Services Tax Numbers. D) None of these. Show Answer Correct Answer: A) Harmonized System Nomenclature. 19. Is the SEZ developer or SEZ unit receiving zero rated supply eligible to claim refund on IGST paid by the registered taxable person on such supply A) Yes. B) No. C) Partially yes. D) None of above. Show Answer Correct Answer: B) No. 20. When India became free from British rule? A) 15 august 1950. B) 26 jan 1930. C) 26 jan 1947. D) 15 august 1947. Show Answer Correct Answer: D) 15 august 1947. 21. Place of supply in case of installation of elevator is ..... A) Where the movement of elevator commences from the suppliers place. B) Where th delivery of elevator is taken. C) Where the installation of elevator is made. D) Where address of recipient is mentioned in the invoice. Show Answer Correct Answer: C) Where the installation of elevator is made. 22. Taxes that are levied on any Intra-State purchase are? A) UTGST. B) IGST. C) SGST/CGST. D) SGST. Show Answer Correct Answer: C) SGST/CGST. 23. What does G stands for in GST? A) Goods. B) Global. C) Great. D) General. Show Answer Correct Answer: A) Goods. 24. As per section 12(2) of CGST Act, 2017, where the supplier is liable to pay tax under forward charge, the time of supply will be A) Date of issue of invoice or the last date on which the supplier is required to issue invoice. B) Date on which supplier receives the payment with respect to the supplies. C) Earlier of A and B. D) Later of A and B. Show Answer Correct Answer: C) Earlier of A and B. 25. A registered person can claim refund of any unutilised input tax credit on zero rated supplies without payment of tax or the credit accumulated on account of inverted tax rate structure A) Before thr expiry of 3 years from the relevant date. B) Before the expiry of tax period. C) Before thr expiry of 18 months from the relevant date. D) At the end of tax period, but before the expiry of 2 years from the relevant date. Show Answer Correct Answer: D) At the end of tax period, but before the expiry of 2 years from the relevant date. 26. Which year onwards Gandhi Jayanthi is celebrated as international non-violence day? A) 2008. B) 2007. C) 2004. D) 2006. Show Answer Correct Answer: B) 2007. 27. The government has recently launched GST regime, effective from july 1, 2017.what is GST A) Gross sales tax. B) Goods and state tax. C) Goods and services tax. D) None of above. Show Answer Correct Answer: C) Goods and services tax. 28. What is time of supply of goods, in case of supplier opting for composition levy under Section 10 of the CGST Act, 2017? A) Earlier of (a) & (b). B) Latter of (a) & (b). C) Date of receipt of consideration by the supplier. D) Date of issue of invoice. Show Answer Correct Answer: A) Earlier of (a) & (b). 29. ..... tax is imposed on Intra-state supply of goods and services collected by State Government. A) IGST. B) SGST. C) CGST. D) GST. Show Answer Correct Answer: B) SGST. 30. Mr. C sold goods worth Rs. 30000 to Mr. Dr on 5.8.2017, which were sent on 6.8.2017, the invoice date being 15.8.2017 and the goods were received by Mr. D on 5.9.2017. Time of supply is ..... A) 6.8.2017. B) 5.8.2017. C) 15.8.2017. D) 5.9.2017. Show Answer Correct Answer: C) 15.8.2017. 31. The central board of Excise and Customs (CBEC) has recently announced that ..... will be observed as GST Day? A) 14th June. B) 1st July. C) 11TH June. D) None of above. Show Answer Correct Answer: B) 1st July. 32. If the supply is identifiable at the point at which voucher is issued, the time of supply shall be A) Date of issue of voucher. B) Date of redemption. C) 3 months from the date of issue. D) Earlier of A and C. Show Answer Correct Answer: A) Date of issue of voucher. 33. IGST credit shall first be utilised towards payment of A) SGST. B) CGST. C) IGST. D) UTGST. Show Answer Correct Answer: C) IGST. 34. Amount that can be claimed as Refund can be calculated as ..... A) (Turnover of zero rated supply of goods and turnover of zero rated supply of services) * Net ITC /Total Turnover. B) (Turnover of supply of goods and turnover of supply of services) * Net ITC /Total Turnover. C) (Turnover of supply of goods and turnover of supply of services) * Net ITC /Adjusted Total Turnover. D) (Turnover of zero rated supply of goods and turnover of zero rated supply of services) * Net ITC /Adjusted Total Turnover. Show Answer Correct Answer: D) (Turnover of zero rated supply of goods and turnover of zero rated supply of services) * Net ITC /Adjusted Total Turnover. 35. Decrease $ 1400 by 10% and then decrease the result by 10% A) $ 1120. B) $ 1400. C) $ 1134. D) $ 1386. Show Answer Correct Answer: C) $ 1134. 36. Luxury Tax and Entry Tax have been subsumed under ..... A) CGST. B) Cess. C) IGST. D) SGST. Show Answer Correct Answer: D) SGST. 37. The incidence of tax on tax is called A) Tax evasion. B) Tax Cascading. C) Indirect tax. D) Tax Pyramiding. Show Answer Correct Answer: B) Tax Cascading. 38. GST got effective in India from:- A) 1st July 2019. B) 1st July 2017. C) 1st Aug 2017. D) 1st July 2018. Show Answer Correct Answer: B) 1st July 2017. 39. In Tally for deleting any ledger, group or voucher ..... key combinations used. A) ALT + D. B) CTRL +S. C) ALT +S. D) CTRL+ D. Show Answer Correct Answer: A) ALT + D. 40. Maximum rate of GST is:- A) 12%. B) 5%. C) 18%. D) 28%. Show Answer Correct Answer: D) 28%. 41. One tooth paste and tooth brush and a toilet soap sold in a packet for Rs. 50, is a type of A) Not supply. B) . Mixed supply. C) Joint Supply. D) Composite supply. Show Answer Correct Answer: B) . Mixed supply. 42. Jack bought a bike for $ 550 and then sold it for $ 680. What was his percentage profit? A) 23.6. B) 130. C) 19.1. D) 25.2. Show Answer Correct Answer: A) 23.6. 43. Every year which of the following days will be observed as GST day by Central Board of Excise and Customs? A) 1st April. B) 1st june. C) 1st July. D) 31st December. Show Answer Correct Answer: C) 1st July. 44. What does the term PERSON includes? A) Individual. B) HUF. C) Partnership firm & Company. D) All. Show Answer Correct Answer: D) All. 45. In Case of Composition Scheme generally applicable rate is: A) 2%. B) 1%. C) 3%. D) 5%. Show Answer Correct Answer: B) 1%. 46. When did PM Narendra Modi introduce demonetisation? A) 1st December 2017. B) 8th November 2016. C) 8th November 2017. D) 4th November 2016. Show Answer Correct Answer: B) 8th November 2016. 47. GST-Goods and Service Tax Act is established under which of the following Amendments of the Constitution of india? A) 132nd Amendments of Constitution. B) 101st Amendments of Constitution. C) 77th Amendments of Constitution. D) 196th Amendments of Constitution. Show Answer Correct Answer: B) 101st Amendments of Constitution. 48. A dealer in Delhi buys some goods worth Rs. 16, 000. If the rate of GST is 12%, find how much will the dealer pay as CGST. A) Rs. 16, 960. B) Rs. 960. C) Rs. 1920. D) Rs. 17, 920. Show Answer Correct Answer: B) Rs. 960. 49. Exports under GST are? A) 5%. B) 7.5%. C) Zero rated. D) 10%. Show Answer Correct Answer: C) Zero rated. 50. Refund of GST is not applicable in case of A) Imports. B) Embassy of foreign countries. C) Notified multilateral Financial Instituition. D) Zero rated supplies. Show Answer Correct Answer: A) Imports. 51. The ..... voucher type is used for recording rectifying entries or adjustment entries. A) Journal. B) Purchase. C) Sales. D) Contra. Show Answer Correct Answer: A) Journal. 52. Is GST applicable to Jammu and Kashmir A) To some part. B) Maybe. C) No. D) Yes. Show Answer Correct Answer: D) Yes. 53. ITC of ..... can be adjusted with Output IGST, CGST and SGST A) Cess. B) CGST. C) IGST. D) SGST. Show Answer Correct Answer: C) IGST. 54. Refunds would be allowed on a provisional basis in case of refund claimsin case of zero rated supply of goods and services made by a registered persons. At what percentage, would such provisional refunds be granted? A) 70%. B) 90%. C) 80%. D) 65%. Show Answer Correct Answer: B) 90%. 55. Mr. A took Health Insurance Policy for his family and paid Rs. 900 as SGST. Find the total annual premium paid by him for this policy, rate of GST being 18%. A) 2100. B) 10000. C) 9000. D) 18000. Show Answer Correct Answer: B) 10000. 56. If the person makes export supplies or supplies to SEZ, will he be eligible to avail the ITC? A) Yes, if he supplies under Bond / LUT. B) Yes, if he doesn't supply under Bond / LUT. C) Yes, he can avail ITC in any situation. D) None of the above. Show Answer Correct Answer: C) Yes, he can avail ITC in any situation. 57. The turnover limit for registered person for GST Audit A) 1.5Cr. B) 1Cr. C) 0.5 Cr. D) 2cr. Show Answer Correct Answer: D) 2cr. 58. Where a supply is made from a place other than the place of business for which registration has been obtained ..... A) Principal place of business entity. B) Such place of business. C) Any place of business of such entity. D) The location of such fixed establishment. Show Answer Correct Answer: D) The location of such fixed establishment. 59. If I go to Bhopal in MP, and buy a Laptop for Company and provide my Mumbai GSTIN to Seller, he will charge me ..... A) CGST. B) SGST. C) IGST. D) CGST and SGST. Show Answer Correct Answer: C) IGST. 60. Whether the GSTR-3B is filed monthly or quarterly? A) Monthly. B) Quarterly. C) Monthly and Quarterly. D) Yearly. Show Answer Correct Answer: A) Monthly. 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