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Free download in PDF of GST MCQs. We have composed some important questions on GST for competitive exams like Banking, SSC, UPSC, PSC, Railway exams, IBPS, SBI, LIC etc.
(11)
The country with second highest tax slab i.e. 27% is:
[A]
South Korea
[B]
Ireland
[C]
Argentina
[D]
Netherland
[E]
Australia
Comment
Answer: Option [C]
Argentina has the second highest tax slab 27%
(12)
In India GST came effective from July 1st, 2017. From which country India has borrowed Dual GST Model?
[A]
Canadian
[B]
Japan
[C]
China
[D]
USA
[E]
Australia
Comment
(13)
Presently how many countries have implemented GST?
[A]
102
[B]
120
[C]
140
[D]
160
[D]
180
Comment
(14)
The tax IGST charged by _______ Government.
[A]
Central
[B]
State
[C]
Concerned department
[D]
Both A and B
[E]
All A, B and C
Comment
Answer: Option [A]
IGST is charged when movement of goods and services from one state to another. For example, if goods are moved from Assam to West Bengal, IGST is levied on such goods.
(15)
GST comes under which amendment bill?
[A]
118
[B]
120
[C]
122
[D]
115
[E]
129
Comment
(16)
Creation of the GST Council as per Article _________ of the amended Constitution;
[A]
286A
[B]
255A
[C]
266A
[D]
289A
[E]
279A
Comment
(17)
GST exemption threshold limit of North Eastern States is ______ lakh.
[A]
5
[B]
10
[C]
12
[D]
15
[E]
20
Comment
(18)
Which of the following comes under sin tax?
[A]
Pan Masala
[B]
Tobacco
[C]
Alcohol
[D]
Both A and C
[E]
All A, B and C
Comment
Answer: Option [E]
Sin taxes are imposed to discourage consumers from using goods or services that are seen as undesirable or detrimental to society.
(19)
GSTN comes under which Act?
[A]
Banking Regulation Act 1949
[B]
RBI Act 1934
[C]
Companies Act, 2013
[D]
Limitation Act, 1963
[E]
Indian Partnership Act, 1932
Comment
(20)
What does N stands for in HSN?
[A]
Nomenclature
[B]
Nationalization
[C]
Nominee
[D]
Network
[E]
Nomination
Comment
Answer: Option [A]
HSN means Harmonized System of Nomenclature code used for classifying the goods under the GST, Goods and Services Tax.
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