TYBCOM SEM 5 || GST Accounting Law And Procedure MCQS

 TYBCOM SEM 5 || GST Accounting Law And Procedure

MCQS

1. GST Stands for

(a) Goods and Supply Tax (b) Government Sales Tax

(c) Goods and Services Tax (d) Good and Simple Tax

2. GST is levied in India on the basis of Principle.

(a) Origin (b) Destination

(c) Either a or b (d) Both a or b

3. The main objective of GST implementation is .

(a) To consolidate multiple indirect tax levies into single tax

(b) Overcoming limitation of existing indirect tax structure

(c) Creating efficiencies in tax administration

(d) All of above

4. Which of the following is not a bill passed by parliament for the implementation of GST in India?

(a) The Central GST Act, 2017 (b) The State GST Act, 2017

(c) The Integrated GST Act, 2017 (d) None of above

5. Petroleum products have been temporarily been kept out of GST.

(a) One (b) Two

(c) Three (d) Five

6. In India, GST structure is in nature.

(a) Single (b) Dual

(c) Triple (d) (a) & (b) both

7. GST is not levied on which of the following ?

(a) Alcoholic Liquor for Human Consumption (b) Five Petroleum Products

(c) Immovable Property (d) All of above

8. GST is not levied on which of the following ?

(a) Motor Spirit (b) High speed diesel

(c) Natural gas (d) All of above

9. is levied on Intra-State Supply of goods and/or Services.

(a) CGST (b) SGST

(c) IGST (d) Both a & b

10. is levied on Inter State Supply of Goods and/or Services.

(a) CGST (b) SGST

(c) IGST (d) Both a & b

11. is levied on Intra State Supply of Goods and/or Services in Union Territory.

(a) SGST (b) IGST

(c) UTGST (d) GST is not levied

12. Goods and Services Tax is a tax levied on goods and services imposed at each point of .

(a) Sale (b) Service

(c) Supply (d) Manufacturing

13. GST is a national level tax based on .

(a) First point tax principle (b) Value Added principle

(c) Last point tax principle (d) All of the above

14. The following tax has been subsumed into Central GST.

(a) Central Sales Tax (b) Custom Duty

(c) Service Tax (d) All of the above

15. GST was introduced in India on

(a) 1-4-2017 (b) 1-5-2017

(c) 1-6-2017 (d) 1-7-2017

1. (c) 6. (b) 11. (c)

2. (b) 7. (d) 12. (c)

3. (d) 8. (d) 13. (b

4. (b) 9. (d) 14. (d

5. (d) 10. (c) 15. (d)