This quiz works best with JavaScript enabled. Home > Indian Polity > Finance > Gst > Gst Council – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Gst Council Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Diesel & Petrol are taxable under GST@ ..... A) 12% & 18%. B) 5% & 12%. C) 18% & 28%. D) GST is not applicable. Show Answer Correct Answer: D) GST is not applicable. 2. Which country is the First to Implement GST? A) India. B) France. C) America. D) None of above. Show Answer Correct Answer: B) France. 3. The chair of GST Council A) Nominated by the Govt. B) Nominated by the GST Council. C) Union Finance Minister. D) Elected by the GST council. Show Answer Correct Answer: C) Union Finance Minister. 4. ..... is issued when there is reduction in the price given by supplier. A) Credit note. B) Debit note. C) Contra Note. D) Receipt. Show Answer Correct Answer: B) Debit note. 5. ITC stands for A) Indirect Tax collection. B) Input tax credit. C) Input tax claim. D) Income and tax credit. Show Answer Correct Answer: B) Input tax credit. 6. What is the time of supply of services where services are received from an associated enterprise located outside India A) Date of entry of services in the books of account of recipient of service. B) Date of payment. C) Earlier of A and B. D) Date of entry of services in the books of the supplier of service. Show Answer Correct Answer: C) Earlier of A and B. 7. What are all the changes done in the Latest GSTR-3B excel utility in 4.3 version? A) No changes has been done in version 4.3. B) Changes in the Version NumberPlace of Supply-Ladakh has been introduced in the drop down. C) Only name has been changed as version 4.3. D) None of the above. Show Answer Correct Answer: B) Changes in the Version NumberPlace of Supply-Ladakh has been introduced in the drop down. 8. What is the location of supply in case of importation of goods? A) Customs port where the goods are cleared. B) Place where the goods are delivered after clearance from the customs port. C) Location of importer. D) Owner of the goods. Show Answer Correct Answer: C) Location of importer. 9. Indian GST modal is based on A) Canada. B) US. C) Europe. D) America. Show Answer Correct Answer: A) Canada. 10. GSTN comes under which Act? A) Banking Regulation Act 1949. B) RBI Act 1934. C) Indian Partnership Act, 1932. D) Companies Act, 2013. Show Answer Correct Answer: D) Companies Act, 2013. 11. The tourist can claim refund of A) CGST and SGST/UTGST on supply of Goods and services. B) IGST on supply of goods taken out of India. C) Tax paid on the supply of scotch to be taken out of India. D) None of the above. Show Answer Correct Answer: B) IGST on supply of goods taken out of India. 12. CGST IS A) CENTRAL GST. B) CUBIC GST. C) CUBOID GST. D) CENSUS GST. Show Answer Correct Answer: A) CENTRAL GST. 13. Mr. Jay trades in certain items which are exempt and supplies certain items to SEZ which are zero rated. He wants to understand which of the following will be included in computation of taxable supplies for purpose of availing input tax credit? A) Zero-rated supplies. B) Exempt supplies. C) Both i.e., Zero-rated and exempt supplies. D) None of the above. Show Answer Correct Answer: A) Zero-rated supplies. 14. GSTIN code for Maharashtra is ..... A) 22. B) 23. C) 25. D) 27. Show Answer Correct Answer: D) 27. 15. Liability to pay tax by the recipient of supply of goods or services is called A) Output tax. B) Input tax. C) Both of these. D) Reverse charge. Show Answer Correct Answer: D) Reverse charge. 16. If I am Composite Dealer, I file ..... A) GSTR1. B) GSTR2. C) GSTR4. D) GSTR5A. Show Answer Correct Answer: C) GSTR4. 17. A book is advertised as 20% off. If it cost $ 70 at the register, how much was it originally? A) $ 90. B) $ 84. C) $ 87.50. D) $ 50. Show Answer Correct Answer: C) $ 87.50. 18. GST will be levied on ..... ? A) Allof the above. B) Retailers. C) Consumers. D) Manufacturers. Show Answer Correct Answer: A) Allof the above. 19. In India GST was first proposed in ..... A) 1996. B) 2000. C) 2004. D) 2007. Show Answer Correct Answer: B) 2000. 20. GST is imposed by which Govt.? A) State Govt. B) Central Govt. C) Local Govt. D) State & Central Both. Show Answer Correct Answer: D) State & Central Both. ← 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 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books