Goods and Services Tax (GST) – Expected Questions for Upcoming Exams

1). 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: (C).

2). How many countries have dual – GST model?

a) 5

b) 8

c) 10

d) 14

e) None of these

Answer: (E). Till now Canada only has dual GST model but now India also started to use dual-GST model.

3). Which of the following country is the first one to implement GST?

a) USA

b) France

c) China

d) Switzerland

e) Germany

Answer: (B). France implemented GST in 1954.

4). Around how many countries adopted GST?

a) 90

b) 120

c) 140

d) 160

e) 200

Answer: (D).

5). Which of the following country has the maximum GST tax slab?

a) Greece

b) China

c) USA

d) Australia

e) India

Answer: (E). India has the maximum tax slab (28%) compared to other countries.

6). Which of the following country has the second highest tax slab?

a) Australia

b) Netherland

c) Argentina

d) Ireland

e) South Korea

Answer: (C). Argentina has the second highest tax slab 27%

7). Indian GST model has _____rate structure.

a) 3

b) 4

c) 5

d) 6

e) 2

Answer: (B). In India GST model has 4 rate structure. They are 5%, 12%, 18% and 28%

8). How many types of taxes will be in Indian GST?

a) 2

b) 3

c) 4

d) 5

e) 6

Answer: (B). Central GST (CGST), State GST (SGST) and IGST are three types of taxes.

9). What does “I” stands for in IGST?

a) International

b) Internal

c) Integrated

d) Intra

e) Innovation

Answer: (C).

10). 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: (A).

11). The maximum rate prescribed under IGST is ___.

a) 5%

b) 12%

c) 18%

d) 28%

e) No such limit

Answer: (D).

12). In India GST was first proposed in ___.

a) 1993

b) 1996

c) 1999

d) 2000

e) 2002

Answer: (D).

13). GST is a ___ based tax on consumption of goods and services.

a) Duration

b) Destination

c) Dividend

d) Development

e) Destiny

Answer: (B). main objective of GST is eliminate excessive taxation

14). GST comes under which amendment bill?

a) 118

b) 120

c) 122

d) 115

e) 129

Answer: (C).

15). Under which Act GST was introduced?

a) 100

b) 101

c) 102

d) 103

e) 104

Answer: (B)

16). GST council formation based on Article number ___.

a) 279A

b) 289A

c) 266A

d) 255A

e) 286A

Answer: (A)

17). The headquarters of GST council is ___.

a) Mumbai

b) New Delhi

c) Ahmadabad

d) Hyderabad

e) Lucknow

Answer: (B).

18). Who is the chairman of GST council?

a) President of India

b) Prime Minister

c) Finance Minister

d) RBI Governor

e) Finance secretary

Answer: (C). Arun Jaitley is the current chairman of GST council

19). ___ is GST Finance Ministers Panel Chairman.

a) Amit Mishra

b) Amit Malhodra

c) Amit Chandresekar

d) Amit Sastri

e) Amit kohli

Answer: (A). Amit Mishra (West Bengal Finance Minister) is the Finance Ministers Panel Chairman.

20). ___ is the first state to ratify GST bill.

a) Andhra Pradesh

b) Assam

c) Arunachal Pradesh

d) Bihar

e) Telangana

Answer: (B)

21). ___ is the first state that passed GST Bill.

a) Andhra Pradesh

b) Gujarat

c) Uttar Pradesh

d) Bihar

e) Telangana

Answer: (E).

22). GST threshold limit of North Eastern States is ___ lakh

a) 5

b) 10

c) 12

d) 15

e) 20

Answer: (B).

23). GST threshold limit of Normal States is ___ lakh

a) 12

b) 15

c) 20

d) 25

e) 30

Answer: (C).

24). The Central Board of Excise and Customs (CBEC) announced that every year ___ will be considered as GST Day.

a) April 1

b) March 1

c) June 1

d) July 1

e) January 1

Answer: (D)

25). Smart Phones will be taxed at ___ under GST.

a) 0%

b) 5%

c) 12%

d) 18%

e) 28%

Answer: (C).

26). Under GST, Insurance is taxed ___ percent.

a) 0%

b) 5%

c) 12%

d) 18%

e) 28%

Answer: (D)

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