GST MCQ Multiple Choice Questions Answers | Quiz for Practice
Discover the intricacies of Goods and Services Tax (GST) with our comprehensive collection of multiple-choice questions and answers. Whether you're a tax professional navigating the complexities of GST compliance, a business owner understanding the implications of GST on operations, or simply eager to grasp the fundamentals of this revolutionary tax system, our repository offers invaluable insights. Explore topics such as GST concepts, tax rates, input tax credit, GST compliance, and GST legislation. Each multiple-choice question is meticulously crafted to challenge your understanding and ignite your curiosity about the dynamic landscape of GST. From understanding the GST framework to mastering GST accounting and reporting requirements, our MCQs provide a comprehensive exploration of all aspects of GST. Start exploring today to deepen your knowledge and stay ahead in the ever-evolving world of taxation!
GST MCQ Questions for Practice
1. The highest rate of tax prescribed under IGST is
Correct Answer is: 18%
2. Ayurvedic products comes under which rate structure?
Correct Answer is: 11%
3. Maximum rate of CGST prescribed by law for intrastate supply made is ……………………
Correct Answer is: 28%+cess
4. Combined Stake of Central and State Government in GSTN is
Correct Answer is: 51%
5. Combined Stake of Central and State Government in GSTN is
Correct Answer is: 51%
6. How many types of GST in India?
Correct Answer is: 5
7. Indian GST model has how many bands of tax rates?
Correct Answer is: 5
8. How many countries have dual – GST model?
Correct Answer is: 10
9. GST was introduced as the ................... amendment Act.
Correct Answer is: 103
10. Under which Act GST was introduced?
Correct Answer is: 103
11. Presently how many countries have implemented GST?
Correct Answer is: 140
12. GST comes under which amendment bill?
Correct Answer is: 115
13. Under which Constitutional Amendment Act, 2016, constitution was amended to introduce GST in India
Correct Answer is: none of the above
14. Which article spells formation of GST Council?
Correct Answer is: 269A (1)
15. GST Council is referred under which Article of the Constitution?
Correct Answer is: 276
16. In which year GST was first introduced in India?
Correct Answer is: 2006
17. The Central Board of Excise and Customs CBE announced that every year .................. will be considered as GST Day
Correct Answer is: 1-Jun
18. Tax deduction at the rate of 1% on certain persons, who are recipients of supply, fromthe payment made or credited to the supplier where total value of supply, undercontract, is exceeding rupees:
Correct Answer is: 5,00,000
19. What is the threshold limit for an individual limit for GST registration?
Correct Answer is: 15 lakh
20. What is the threshold limit for composition levy?
Correct Answer is: 70 lakh
21. What is the threshold limit for composite tax levy?
Correct Answer is: 50 lakh
22. The rate of GST as applicable on goods and services are:
Correct Answer is: 0% 5% 12% 18% 26%
23. What is the weight of vote that the Centre has in the GST Council?
Correct Answer is: none of the above
24. What is the weight of vote that the all the States together have in the GST Council?
Correct Answer is: 3/4th of total votes cast
25. Which constitutional amendment is done to pass the GST bill?
Correct Answer is: 115th
26. When was GST Council constituted?
Correct Answer is: 16th September 2016
27. When did the President of India gave assent to the Central GST Law?
Correct Answer is: 22nd April 2017
28. What is the rate of levy under composite scheme on the Manufacturer?
