GST - General Knowledge Multiple Choice Questions (MCQs) and Answers | Goods and Services Tax GK for Competitive Exams | GST Questions and Answers for Banking Exams | Goods and Services Tax (GST) Quiz

21 Coal comes under which GST rate Structure?

A 0%

B 5%

C 12%

D 18%

E 28%

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Answer: Option [B]

22 The highest rate of tax prescribed under IGST is ________.

A 5%

B 12%

C 18%

D 28%

E No such limit

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Answer: Option [D]

23 The country with highest GST Rate in the world is

A USA

B India

C China

D Greece

D Australia

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Answer: Option [B]

India has the maximum tax slab (28%) compared to other countries.

24 _________ is the first state that passed GST Bill.

A Bihar

B Gujarat

C Telangana

D Andhra Pradesh

E Uttar Pradesh

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Answer: Option [C]

25 GST rate on Smart Phones is

A 0%

B 5%

C 12%

D 18%

E 28%

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Answer: Option [C]

26 Combined Stake of Central and State Government in GSTN is _______.

A 20%

B 25%

C 49%

D 51%

E 100%

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Answer: Option [C]

The Central and the state governments hold a combined stake of 49%, the remaining 51% stake is divided among five financial institutions—LIC Housing Finance with 11% stake and ICICI Bank, HDFC, HDFC Bank and NSE Strategic Investment Corporation Ltd with 10% stake each.

27 The Central Board of Excise and Customs (CBEC) announced that every year ________ will be considered as GST Day.

A April 1

B March 1

C June 1

D July 1

E January 1

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