MCQOPTIONS
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MCQOPTIONS
This section includes 1133 Mcqs, each offering curated multiple-choice questions to sharpen your Commerce knowledge and support exam preparation. Choose a topic below to get started.
| 1101. |
Which of the following taxes will be levied on Imports of goods and services? |
| A. | CGST |
| B. | SGST |
| C. | IGST |
| D. | Exempt |
| Answer» D. Exempt | |
| 1102. |
When an e-commerce operator is required to register under GST? |
| A. | When he is required to collect tax at source u/s 52 |
| B. | When his aggregate turnover exceeds the threshold limit |
| C. | When he is required to discharge tax on the taxable supply or services made by the supplier through him u/s 9(5) |
| D. | It is mandatory to register irrespective of the threshold limit. |
| Answer» E. | |
| 1103. |
The books and other records U/S 35 are to be maintained at |
| A. | Place where the books and accounts are maintained |
| B. | Place of address of the Proprietor/ Partner/Director/Principal Officer |
| C. | Principal place of business mentioned in the Certificate of Registration |
| D. | Any of the above |
| Answer» D. Any of the above | |
| 1104. |
Who is considered as an e-commerce operator, who _____________digital or electronic facility or platform for electronic commerce |
| A. | Owns |
| B. | Operates |
| C. | Manages |
| D. | Any of the above |
| Answer» E. | |
| 1105. |
Indian GST model has _________rate structure. |
| A. | 3 |
| B. | 4 |
| C. | 5 |
| D. | 6 |
| Answer» C. 5 | |
| 1106. |
GST is a _______ based tax on consumption of goods and services. |
| A. | Duration |
| B. | Destination |
| C. | Dividend |
| D. | Development |
| E. | Destiny |
| Answer» C. Dividend | |
| 1107. |
Which of the following tax is not subsumed in GST |
| A. | VAT |
| B. | Stamp Duty |
| C. | Entry Tax |
| D. | Entertainment Tax |
| Answer» C. Entry Tax | |
| 1108. |
In India GST came effective from July 1st, 2017 India has chosen _______ model of dual – GST.$ |
| A. | USA |
| B. | UK |
| C. | Canadian |
| D. | China |
| E. | Japan |
| Answer» D. China | |
| 1109. |
First announcement to introduce GST by 2010, is made in Year |
| A. | 2000 |
| B. | 2004 |
| C. | 2006 |
| D. | 2008 |
| E. | 2010 |
| Answer» D. 2008 | |
| 1110. |
In India GST became effective from |
| A. | 1st April, 2017 |
| B. | 1st January, 2017 |
| C. | 1st July, 2017 |
| D. | 1st March, 2017 |
| Answer» D. 1st March, 2017 | |
| 1111. |
How many types of taxes will be in Indian GST? |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| E. | 6 |
| Answer» C. 4 | |
| 1112. |
GST Stands for |
| A. | Goods and Supply Tax |
| B. | Government Sales Tax |
| C. | Goods and Services Tax |
| D. | General Sales Tax |
| Answer» D. General Sales Tax | |
| 1113. |
What does “I” stands for in IGST?$ |
| A. | International |
| B. | Internal |
| C. | Integrated |
| D. | Intra |
| Answer» D. Intra | |
| 1114. |
Who will notify the rate of tax to be levied under CGST? |
| A. | GST Council suo moto |
| B. | Central Government suo moto |
| C. | State Government suo moto |
| D. | Central Government as per the recommendations of the GST Council |
| Answer» E. | |
| 1115. |
Under GST, Insurance is taxed _______ percent. |
| A. | 0% |
| B. | 5% |
| C. | 12% |
| D. | 18% |
| E. | 28% |
| Answer» E. 28% | |
| 1116. |
Smart Phones will be taxed at _______ under GST. |
| A. | 0% |
| B. | 5% |
| C. | 12% |
| D. | 18% |
| E. | 28% |
| Answer» D. 18% | |
| 1117. |
The Central Board of Excise and Customs (CBEC) announced that every year _______ will be considered as GST Day. |
| A. | 1st April |
| B. | 1st March |
| C. | 1st June |
| D. | 1st July |
| E. | 1st January |
| Answer» E. 1st January | |
| 1118. |
GST threshold limit of Normal States is _______ lakh |
| A. | 12 |
| B. | 15 |
| C. | 20 |
| D. | 25 |
| E. | 30 |
| Answer» D. 25 | |
| 1119. |
GST threshold limit of North Eastern States is _______ lakhs |
| A. | 5 |
| B. | 10 |
| C. | 12 |
| D. | 15 |
| E. | 20 |
| Answer» C. 12 | |
| 1120. |
The headquarters of GST council is _______. |
| A. | Mumbai |
| B. | New Delhi |
| C. | Ahmadabad |
| D. | Hyderabad |
| E. | Lucknow |
| Answer» C. Ahmadabad | |
| 1121. |
The maximum rate prescribed under IGST now is _______. |
| A. | 5% |
| B. | 12% |
| C. | 18% |
| D. | 28% |
| E. | No such limit |
| Answer» E. No such limit | |
| 1122. |
_______ is the first state that passed GST bill. |
| A. | Andhra Pradesh |
| B. | Gujarat |
| C. | Uttar Pradesh |
| D. | Bihar |
| E. | Telangana |
| Answer» F. | |
| 1123. |
GST council formation based on Article number _______. |
| A. | 279A |
| B. | 289A |
| C. | 266A |
| D. | 255A |
| E. | 286A |
| Answer» B. 289A | |
| 1124. |
The tax IGST charged by _________Government. |
| A. | Central |
| B. | State |
| C. | Concerned department |
| D. | Both a and b |
| E. | All a, b and c |
| Answer» B. State | |
| 1125. |
_______ is the first state to ratify GST bill. |
| A. | Andhra Pradesh |
| B. | Assam |
| C. | Arunachal Pradesh |
| D. | Bihar |
| E. | Telangana |
| Answer» C. Arunachal Pradesh | |
| 1126. |
Under which Act GST was introduced? |
| A. | 100 |
| B. | 101 |
| C. | 102 |
| D. | 103 |
| E. | 104 |
| Answer» C. 102 | |
| 1127. |
Which of the following country has the second highest tax slab? |
| A. | Australia |
| B. | Netherland |
| C. | Argentina |
| D. | Ireland |
| E. | South Korea |
| Answer» D. Ireland | |
| 1128. |
_______ is GST Finance Ministers First Panel Chairman. |
| A. | Amit Mitra |
| B. | Amit Malhodra |
| C. | Amit Chandresekar |
| D. | Amit Sastri |
| E. | Amit kohli |
| Answer» B. Amit Malhodra | |
| 1129. |
GST comes under which amendment bill? |
| A. | 118 |
| B. | 120 |
| C. | 122 |
| D. | 115 |
| E. | 129 |
| Answer» D. 115 | |
| 1130. |
Which of the following country has the maximum GST tax slab? |
| A. | Greece |
| B. | China |
| C. | USA |
| D. | Australia |
| E. | India |
| Answer» F. | |
| 1131. |
Who is the chairman of GST council? |
| A. | President of India |
| B. | Prime Minister |
| C. | Finance Minister |
| D. | RBI Governor |
| E. | Finance secretary |
| Answer» D. RBI Governor | |
| 1132. |
In India GST was first proposed in _______. |
| A. | 1993 |
| B. | 1996 |
| C. | 1999 |
| D. | 2000 |
| E. | 2002 |
| Answer» E. 2002 | |
| 1133. |
Which of the following country is the first one to implement GST? |
| A. | USA |
| B. | France |
| C. | China |
| D. | Switzerland |
| E. | Germany |
| Answer» C. China | |