This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Gst > Gst Council – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 15 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. All financial entries are made using ..... or account heads. A) Ledger. B) Group. C) Voucher. D) Sales. Show Answer Correct Answer: A) Ledger. 2. Composition scheme is available only for A) Inter state supplies. B) B2B supplies. C) Intra-state supplies. D) E-commerce operators. Show Answer Correct Answer: C) Intra-state supplies. 3. Presently which currency notes have curbed due to demonetisation? A) 500, 1000. B) 500, 2000. C) 1000, 2000, 500, 100. D) None of these. Show Answer Correct Answer: A) 500, 1000. 4. What is the maximum rate prescribed under CGST? A) 12. B) 20. C) 28. D) 18. Show Answer Correct Answer: C) 28. 5. GST was introduced in India with effect from A) 1.1.2017. B) 1.4.2017. C) 1.7.2017. D) 1.1.2018. Show Answer Correct Answer: C) 1.7.2017. 6. Retail Price of a T.V. including GST @12% is 22400/-taxable value shall be: A) 25000. B) 22500. C) 20000. D) None of above. Show Answer Correct Answer: C) 20000. 7. A dealer in a city buys goods worth Rs 6000 from the same city. If the rate of GST is 18%, find how much will the dealer pay for the goods bought A) 5250. B) 6030. C) 7500. D) 7080. Show Answer Correct Answer: D) 7080. 8. What is the full form of SAC in GST? A) Services Accounting Code. B) Supple Accounting Code. C) State Accounting Code. D) None of these. Show Answer Correct Answer: A) Services Accounting Code. 9. The number of structures in India's GST model is? A) 6. B) 4. C) 3. D) 5. Show Answer Correct Answer: B) 4. 10. Full form of GST A) Goods and Service Tax. B) Goods or service Tax. C) Gold and Silver Tang. D) None of the above. Show Answer Correct Answer: A) Goods and Service Tax. 11. WHICH MOMENT IS CALLED AUGUST KRANTI A) QUIT INDIA MOVEMENT. B) NON COOPRATION MOVEMENT. C) NONE.. D) None of above. Show Answer Correct Answer: A) QUIT INDIA MOVEMENT. 12. GSTR-3B is the summary of? A) GSTR-3B is a summary of all taxable purchases and sales. B) GSTR-3B is a summary of all exempt and Nill rated purchase and sales. C) GSTR-3B is a summary of all Inwards and outwards supplies under GST. D) GSTR-3B is a summary of reverse charges transactions. Show Answer Correct Answer: A) GSTR-3B is a summary of all taxable purchases and sales. 13. The lowest tax rate under GST is A) .25%. B) 1%. C) 2%. D) .50%. Show Answer Correct Answer: A) .25%. 14. Decrease 500 by 30% A) 470. B) 350. C) 499.70. D) 150. Show Answer Correct Answer: B) 350. 15. Can a person apply for GST registration without PAN Card? A) No. B) Yes. C) Wrong Question. D) None of these. Show Answer Correct Answer: A) No. 16. In GST, HSN Stands for ..... A) Haldi Shakar Namak. B) Harmonized System of Nomenclature. C) Harmonized System Number. D) Harmonized System of Numbers. Show Answer Correct Answer: B) Harmonized System of Nomenclature. 17. Mr.A (New Delhi) has leased his machine cost Rs.8, 00, 000 to Mr.B Noida (Uttar Pradesh) for production of goods on a monthly rent of Rs.40, 000. After 13 months Mr.B requested Mr.A to sell the machine to him for Rs.4, 00, 000, which is agreed to by Mr.A. What is the place of supply? A) Noida. B) New Delhi. C) None of the above. D) None of above. Show Answer Correct Answer: A) Noida. 18. What is the full form GST? A) Goods and supply Tax. B) Government supply Tax. C) Goods and Service Tax. D) General Sales Tax. Show Answer Correct Answer: C) Goods and Service Tax. 19. Computerised Accounting System is based on the concept of ..... A) Database. B) Software. C) Hardware. D) Design. Show Answer Correct Answer: A) Database. 20. Which of the following tax rate is not applicable under the GST? A) 25. B) 18. C) 12. D) 5. Show Answer Correct Answer: A) 25. ← PreviousNext →Related QuizzesFinance QuizzesIndian Polity QuizzesGst Council Quiz 1Gst Council Quiz 2Gst Council Quiz 3Gst Council Quiz 4Gst Council Quiz 5Gst Council Quiz 6Gst Council Quiz 7Gst Council Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books