Top 150+ Solved Goods and Services Tax (GST) MCQ Questions Answer
Q. A person is having multiple business requires registration
a. Single
b. Each business separately
c. Either A or B
d. None of the above
Q. Zero rated supply includes supplies made
a. By SEZ unit in India
b. To SEZ unit in India
c. Both (a & (b) above
d. None of the above
Q. With the introduction of GST, imports will be—
a. more expensive
b. cheaper
c. neutral with no change
d. None of the above
Q. Compensation to states under GST (Compensation to States) Act, 2017 is paid by
a. Central Government from consolidated fund of India
b. Central Government from GST compensation fund of India
c. Central Government directly from the collection of compensation cess
d. GST Council under Constitution of India.
Q. While computing compensation to states, tax revenue of this tax/ these taxes is excluded
a. petroleum crude, diesel, petrol, ATF and natural gas
b. Alcohol for human consumption
c. entertainment tax collected by local authorities
d. All of the above
Q. Input tax credit on compensation cess paid under GST (Compensation to States) Act, 2017.
a. is not available
b. is available
c. is available but not fully
d. is available after one year
Q. Input tax credit under GST (Compensation to States) Act, 2017 includes GST Compensation Cess charged on any supply of
a. Goods and/or services,
b. Goods imported
c. GST Compensation Cess payable on reverse charge basis;
d. All of the above
Q. Maximum rate of CGST prescribed by law for intrastate supply made is----
a. 18%
b. 20%
c. 40%
d. 28%+cess
Q. Input tax credit on Compensation cess paid under GST (Compensation to States) Act, 2017 is available for payment of
a. IGST only
b. IGST and CGST only
c. compensation under GST (Compensation to States) Act
d. None of the above
Q. Zero rated supply includes supplies made
a. By SEZ unit in India
b. To SEZ unit in India
c. Both (a & (b above
d. None of the above
Q. The first committee to design GST model was headed by
a. Vijay Kelkar
b. Asim Das Gupta
c. Dr. Chidambaram
d. None of the above
Q. First discussion paper (FDP) which formed the basis for GST in 2009 was released by
a. Union Finance Ministry
b. Dr. Manmohan Singh
c. GST Council
d. Empowered Committee
Q. Roll out of GST requires constitutional amendment because
a. existing laws were cascading
b. the powers of levy were exclusive
c. there are separate laws for goods and services
d. All of the above
Q. Works contract under GST is goods used in work relating to
a. Immovable property
b. Both movable and immovable property
c. Immovable property treated as supply of service
d. Immovable property treated as supply of goods
Q. A supplier is liable to get registered under GST if his aggregate turnover in a financial year crosses Rs. 20 lakh in a state or UT other than special category states if he is
a. an interstate supplier
b. an intra-state supplier
c. Electronic commerce operator
d. Person liable to pay GST under reverse charge