This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Gst > Gst Council – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 1 (20 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) Current asset. B) Current liability. C) Non-current asset. D) Non-current liability. Show Answer Correct Answer: A) Current asset. 3. The maximum rate applicable for SGST/UTGST is? A) 28. B) 14. C) 20. D) 30. Show Answer Correct Answer: C) 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. 810. B) Rs. 1530. C) Rs. 900. D) Rs. 1800. 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) 1980. B) 1990. C) 2000. D) 1900. Show Answer Correct Answer: A) 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) Manmohan Singh. B) Raghuram Rajan. C) Urjit Patel. D) Shaktikanta Das. Show Answer Correct Answer: D) 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 dispatch of goods by the supplier-22nd July. C) Date of receipt of payment in bank account-15th June. D) Date of record of payment in books of account-17th June. 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.1931. B) Rs.1800. C) Rs.2250. D) Rs.2304. 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. In GSTR-3B we are not getting URD purchases under 'Reverse charge liability and Input credit to be Booked'? A) Make sure that the Option "Enable Tax liability on Reverse charge" (URD Purchases) from F11>F3. B) URD purchases will be shown in GSTR-2. C) URD Purchases are waived by the department as of now. D) All of the above. Show Answer Correct Answer: A) Make sure that the Option "Enable Tax liability on Reverse charge" (URD Purchases) from F11>F3. 15. 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) 1005. C) 885. D) 638.50. Show Answer Correct Answer: C) 885. 16. Goods sold from Solapur to Surat is the example of ..... A) GST. B) CGST. C) SGST. D) IGST. Show Answer Correct Answer: D) IGST. 17. Entries are not getting including if we Include it from GSTR-1 and GSTR-3B? A) Entries once excluded cannot be included. B) Need to identify that whether the entry is been exluded from GSTR-1 or GSTR-3B. C) Entries should be Re passsed. D) Entries should be Re Accepted. Show Answer Correct Answer: B) Need to identify that whether the entry is been exluded from GSTR-1 or GSTR-3B. 18. What is IGST? A) Integrated Goods and Service Tax. B) Indian Goods and Service Tax. C) Initial Goods and Service Tax. D) None. Show Answer Correct Answer: A) Integrated Goods and Service Tax. 19. GST payables is classified as; A) Current asset. B) Current liability. C) Non-current asset. D) Non-current liability. Show Answer Correct Answer: B) Current liability. 20. 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. Next →Related QuizzesFinance QuizzesIndian Polity QuizzesGst Council Quiz 2Gst Council Quiz 3Gst Council Quiz 4Gst Council Quiz 5Gst Council Quiz 6Gst Council Quiz 7Gst Council Quiz 8Gst Council Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books