128 + Mcqs in Indirect Tax Page 1 McqOptions

1.	Ayurvedic products comes under which rate structure?
A.	12 %
B.	Nil
C.	5%
D.	18%
Answer» C. 5%

Discussion

2.	GST is levied on supply of all goods or services or both except supply of _______________
A.	Sin goods
B.	Cigarettes
C.	Alcoholic liquor for human consumption
D.	Pan Masala
Answer» D. Pan Masala

Discussion

3.	On _________, the constitution (122nd Amendment) bill, 2014 was passed by Rajya Sabah with certain amendments.
A.	July 30,2016
B.	August 3, 2016
C.	August 16, 2016
D.	August 1 ,2016
Answer» C. August 16, 2016

Discussion

4.	Supply include which of the following___________.
A.	Service
B.	Goods
C.	Goods & Services
D.	Goods and or Services
Answer» D. Goods and or Services

Discussion

5.	GST has been made applicable by ________ number of countries across the globe.
A.	150
B.	125
C.	140
D.	141
Answer» D. 141

Discussion

6.	GST is ________ Level Tax.
A.	State
B.	National
C.	State and National
D.	International
Answer» D. International

Discussion

7.	The constitution Amendment Bill was adopted on _____________ by majority of state Legislatures wherein approval of at least 50% of the state assemblies was required________.
A.	August, 2016
B.	September, 2016
C.	October, 2016
D.	December, 2016
Answer» C. October, 2016

Discussion

8.	What is IGST __________.
A.	Integrated Goods and Service Tax
B.	Indian Goods and Service Tax
C.	Initial Goods & Service Tax
D.	International Goods & Service Tax.
Answer» B. Indian Goods and Service Tax

Discussion

9.	India ____________.
A.	Trust
B.	Territorial Water up to 200 national miles
C.	Recipient
D.	Consideration.
Answer» C. Recipient

Discussion

10.	Amazon ____________.
A.	Electronic Commerce Operator
B.	Exchange of goods against goods
C.	Trust
D.	Profit Motive Irrelevant
Answer» B. Exchange of goods against goods

Discussion

11.	Money ___________.
A.	Not subject to GST
B.	Money Order
C.	Profit Motive irrelevant
D.	Exchange of goods against goods
Answer» C. Profit Motive irrelevant

Discussion

12.	Person _____________.
A.	Territorial Water up to 200 national miles
B.	Money order
C.	TRUST
D.	Recipient
Answer» D. Recipient

Discussion

13.	Admission in exhibition on Donor card ___________.
A.	Electronic Commerce Operator
B.	Profit Motive Irrelevant
C.	Consideration
D.	Not subject to GST
Answer» D. Not subject to GST

Discussion

14.	Swiggy ___________________.
A.	Exchange of goods against goods
B.	Trust
C.	Electronic Commerce Operator
D.	Recipient
Answer» D. Recipient

Discussion

15.	Sovereign activities _______________-
A.	Money order
B.	Electronic Operator
C.	Not Suitable to GST
D.	Consideration
Answer» D. Consideration

Discussion

16.	Barter ____________
A.	Exchange of goods against goods
B.	Profit Motive
C.	Trust
D.	Electronic Commerce Operator
Answer» B. Profit Motive

Discussion

17.	Section 2 (93) of CGST Act ____________
A.	Recipient
B.	Consideration
C.	Territorial water up to 200 national miles
D.	Money order
Answer» B. Consideration

Discussion

18.	Goods ______________.
A.	2(105) of CGST Act
B.	2(52) of CGST Act
C.	2(56) of CGST Act
D.	2 (93) of CGST Act
Answer» C. 2(56) of CGST Act

Discussion

19.	Business ___________
A.	Profit Motive Irrelevant
B.	Exchange of goods against goods
C.	Not subject to GST
D.	Trust
Answer» B. Exchange of goods against goods

Discussion

20.	Services ______________.
A.	2 (31) of CGST Act
B.	2(17) of CGST Act
C.	2(84) of CGST Act
D.	2 (102) of CGST Act
Answer» E.

Discussion

21.	Securities ____________.
A.	2(45) of CGST Act
B.	2(107) of CGST Act
C.	2(31) CGST Act
D.	2 (101) of SCRA Act
Answer» E.

Discussion

22.	Money ____________-
A.	5(58) of CGST Act
B.	2(75) of CGST Act
C.	2(107) of CGST Act
D.	2(17) of CST Act
Answer» C. 2(107) of CGST Act

Discussion

23.	Taxable Persons ________.
A.	2(107) of CGST Act
B.	2(17) of CGST Act
C.	2 (45) of CGST Act
D.	2(31) of CGST Act
Answer» B. 2(17) of CGST Act

Discussion

24.	Persons _____________.
A.	2(56) of CGST act
B.	2(84) of CGST ACT
C.	2(17) of CGST Act
D.	2(93) of CGST Act
Answer» C. 2(17) of CGST Act

Discussion

25.	Business ___________.
A.	2(105) of CGST Act
B.	2(17) of CGST Act
C.	2(31) of CGST Act
D.	2(107) of CGST Act
Answer» C. 2(31) of CGST Act

Discussion

26.	Rate of IGST on Motor Car is _____________.
A.	5%
B.	12%
C.	18%
D.	28%
Answer» E.

Discussion

27.	Consideration ____________.
A.	2(75) of CGST Act
B.	2(105) of CGST Act
C.	2(56) of CGST Act
D.	2(31) of CGST Act
Answer» E.

Discussion

28.	GST is levied on supply all goods and services except ___________________.
A.	computer
B.	Machinery
C.	Alcoholic Liquor for human consumption
D.	Gold & Silver
Answer» D. Gold & Silver

Discussion

29.	Gst is leviable on Petrol from ____________.
A.	1/07/2017
B.	will not levied at all
C.	GST will be levied from a date notify by GST Council
D.	1/04/2018
Answer» D. 1/04/2018

Discussion

30.	List I of the constitution contains matters in respect of which _______ has the exclusive power make law.
A.	Central Govt
B.	State Govt
C.	Union Govt
D.	Central & State Govt.
Answer» E.

Discussion

31.	___________ Act have been subsumed in GST.
A.	Central Exercise
B.	Property Tax
C.	IGST
D.	Income Tax
Answer» B. Property Tax

Discussion

32.	List II _____________.
A.	Sin Goods
B.	Union Territory Goods and Service Tax
C.	State List
D.	Sin Goods
Answer» D. Sin Goods

Discussion

33.	_______________ is Indirect Tax.
A.	Wealth
B.	Estate Duty
C.	IGST
D.	Income Tax
Answer» D. Income Tax

Discussion

34.	CGST _______________.
A.	Central Goods and Service Tax
B.	State List
C.	Concurrent List
D.	Union List
Answer» B. State List

Discussion

35.	IGST _____________.
A.	Concurrent List
B.	Integrated Goods & Service Tax
C.	State List
D.	Concurrent List
Answer» C. State List

Discussion

36.	List III ___________________.
A.	Central Goods and Service Tax
B.	Concurrent List
C.	State List
D.	Union List
Answer» C. State List

Discussion

37.	UTGST ____________.
A.	Union List
B.	Union Territory goods & Service Tax
C.	State List
D.	Concurrent List
Answer» C. State List

Discussion

38.	Cess ______________.
A.	Sin Goods
B.	Integrated goods & Service Tax
C.	State goods & Service Tax
D.	Union List
Answer» B. Integrated goods & Service Tax

Discussion

39.	SGST __________.
A.	State Goods & Service Tax
B.	Central Goods & Service Tax
C.	Sin Goods
D.	Concurrent List
Answer» B. Central Goods & Service Tax

Discussion

40.	Rate of Tax on platinum CGST and SGST together ______________________.
A.	5%
B.	3%
C.	18%
D.	28%
Answer» C. 18%

Discussion

41.	Recipient _______________.
A.	2(93) of CGST Act
B.	2(17) of CGST Act
C.	2(107) of CGST Act
D.	2(52) CGST Act
Answer» B. 2(17) of CGST Act

Discussion

42.	Minimum rate of tax under consumption levy for restaurant services _______
A.	1%
B.	2%
C.	4%
D.	5%
Answer» E.

Discussion

43.	Rate of composition got restaurant is ____________.
A.	5%
B.	12%
C.	18%
D.	28%
Answer» B. 12%

Discussion

44.	Rate of Tax for composition for restaurant is ___________.
A.	1%
B.	2%
C.	5%
D.	12%
Answer» C. 5%

Discussion

45.	Exempt Supply means supply of any goods or services or both which attracts _______________rate of tax.
A.	Zero
B.	Nil
C.	Not mentioned in the act
D.	One
Answer» C. Not mentioned in the act

Discussion

46.	Compute time of supply (in case of supply of toothpaste) when its removal on 25/12/2017, date of invoice 31/12/2017, date of payment 01/01/2019____________
A.	25/12/2019
B.	31/12/2018
C.	01/01/2020
D.	25/02/2019
Answer» B. 31/12/2018

Discussion

47.	Compute time of supply (0in case of Supply of Soap) when its removal on 25/11/2017, Date of invoice 21/11/2017.
A.	25/11/2017
B.	21/11/2017
C.	1/12/2017
D.	21/10/2017
Answer» C. 1/12/2017

Discussion

48.	Dealers not eligible for opting composition scheme.
A.	Exporters
B.	Importers
C.	Interstate supplier of goods
D.	Manufacturing dealers
Answer» D. Manufacturing dealers

Discussion

49.	Composition levy applicable to tax prayer whose turnover not exceed ___________-
A.	20 lakhs
B.	50 lakhs
C.	80 lakhs
D.	150 Lakhs
Answer» E.

Discussion

50.	Mr. A is supplier opted composition scheme when he is required to file his return in respect of supply of October 2017 to Dec 2017.
A.	10th January 2018
B.	15th January 2018
C.	18th January 2018
D.	20th January 2018
Answer» D. 20th January 2018

Discussion

Explore topic-wise MCQs in Bachelor of Management Studies (BMS).

Ayurvedic products comes under which rate structure?

GST is levied on supply of all goods or services or both except supply of _______________

On _________, the constitution (122nd Amendment) bill, 2014 was passed by Rajya Sabah with certain amendments.

Supply include which of the following___________.

GST has been made applicable by ________ number of countries across the globe.

GST is ________ Level Tax.

The constitution Amendment Bill was adopted on _____________ by majority of state Legislatures wherein approval of at least 50% of the state assemblies was required________.

What is IGST __________.

India ____________.

Amazon ____________.

Money ___________.

Person _____________.

Admission in exhibition on Donor card ___________.

Swiggy ___________________.

Sovereign activities _______________-

Barter ____________

Section 2 (93) of CGST Act ____________

Goods ______________.

Business ___________

Services ______________.

Securities ____________.

Money ____________-

Taxable Persons ________.

Persons _____________.

Business ___________.

Rate of IGST on Motor Car is _____________.

Consideration ____________.

GST is levied on supply all goods and services except ___________________.

Gst is leviable on Petrol from ____________.

List I of the constitution contains matters in respect of which _______ has the exclusive power make law.

___________ Act have been subsumed in GST.

List II _____________.

_______________ is Indirect Tax.

CGST _______________.

IGST _____________.

List III ___________________.

UTGST ____________.

Cess ______________.

SGST __________.

Rate of Tax on platinum CGST and SGST together ______________________.

Recipient _______________.

Minimum rate of tax under consumption levy for restaurant services _______

Rate of composition got restaurant is ____________.

Rate of Tax for composition for restaurant is ___________.

Exempt Supply means supply of any goods or services or both which attracts _______________rate of tax.

Compute time of supply (in case of supply of toothpaste) when its removal on 25/12/2017, date of invoice 31/12/2017, date of payment 01/01/2019____________

Compute time of supply (0in case of Supply of Soap) when its removal on 25/11/2017, Date of invoice 21/11/2017.

Dealers not eligible for opting composition scheme.

Composition levy applicable to tax prayer whose turnover not exceed ___________-

Mr. A is supplier opted composition scheme when he is required to file his return in respect of supply of October 2017 to Dec 2017.

The constitution Amendment Bill was adopted on _____ by majority of state Legislatures wherein approval of at least 50% of the state assemblies was required.