GST MCQ Questions and Answers Quiz

111. What does Taxable event mean?

  1. Tax on supply
  2. Tax on services
  3. either a) or b)
  4. both a) or b)

112. Tax is paid on which value?

  1. Transaction value
  2. manufacturing value plus profit
  3. manufacturing value
  4. notional value

113. First discussion paper (FDP) which formed the basis for GST in 2009 was released by

  1. Union Finance Ministry
  2. GST Council
  3. Dr. Manmohan Singh
  4. Empowered Committee

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

  1. USA
  2. France
  3. China
  4. Switzerland

115. The country with highest GST Rate in the world is

  1. USA
  2. India
  3. China
  4. Greece

116. In India GST came affective from July 1st, 2017, India has chosen ................... model of dual GST.

  1. USA
  2. UK
  3. Canadian
  4. China

117. What is conveyance?

  1. vessel
  2. aircraft
  3. vehicle
  4. all of the above

118. The first committee to design GST model was headed by

  1. Vijay Kelkar
  2. Dr. Chidambaram
  3. Asim Das Gupta
  4. None of the above

119. IGST is levied on supply of goods and provision of services …………………………….

  1. within state
  2. between two states
  3. either of a) or b)
  4. none of the above

120. An assessee who has opted for the Composite Scheme, is he eligible to take input taxcredit?

  1. Yes
  2. May be
  3. No
  4. In certain cases
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