Goods and Services Tax (GST) Developments CDS Questions

CDS Economy

Goods and Services Tax (GST) Developments MCQ Questions


7.
Which of the following is a benefit of GST?
A.
Cascading tax effect
B.
Unified taxation system
C.
Increase in tax evasion
D.
Multiple tax systems
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ANSWER :
B. Unified taxation system
8.
The GST Council is chaired by the _____.
A.
President of India
B.
Prime Minister of India
C.
Finance Minister of India
D.
Governor of RBI
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ANSWER :
C. Finance Minister of India
9.
Under GST, the tax liability is passed on to _____.
A.
Manufacturer
B.
Wholesaler
C.
Consumer
D.
Supplier
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ANSWER :
C. Consumer
10.

Match the following tax rates with categories:

List I List II
a) 0% 1.) asic food items
b) 5% 2.) Electronics
c) 12% 3.) Transportation services
d) 18% 4.) Restaurant services
A.

a-1, b-2, c-3, d-4

B.

a-2, b-1, c-4, d-3

C.

a-1, b-3, c-4, d-2

D.

a-3, b-4, c-2, d-1

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ANSWER :

C. a-1, b-3, c-4, d-2

11.
What is the basis of splitting GST into CGST and SGST for intra-state supplies?
A.
Place of Supply
B.
HSN Code
C.
Destination Principle
D.
Turnover Limit
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ANSWER :
A. Place of Supply
12.
Which component of GST applies to transactions within the same state?
A.
IGST
B.
CGST and SGST
C.
SGST only
D.
CGST only
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ANSWER :
B. CGST and SGST