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Goods & Services Tax / Indirect Tax Law

Total questions: 26

Worksheet time: 9mins

Name
Class
Date
1.

The supreme law of India is....

a)

Income Tax Act.

b)

Central GST Act.

c)

Constitution.

d)

All of this.

2.

Tax is not a compulsory financial charge imposed upon a taxpayer by a governmental organization....

a)

True

b)

False

3.

The tax system in India is categorized into...

a)

4

b)

3

c)

2

d)

1

4.

.....is a tax charged on manufacturer or sale of goods and on providing of services.

a)

Direct Tax

b)

Indirect Tax

c)

Both Direct & Indirect Tax

d)

None

5.

'Value addition' simply means....

a)

Expenses x Profit

b)

Sales + Purchase

c)

Expenses + Profit

d)

sales x Purchase

6.

.....is the credit an individual receives for the tax paid on the inputs used in manufacturing the product

a)

Output Tax Credit

b)

Input Tax

c)

Output Tax

d)

Input Tax Credit

7.

GST is not a destination based tax or consumption based tax.

a)

True

b)

False

8.

The entire loss of any state due to implementation of GST will be compensated by the Centre government for a period of ..... years.

a)

10

b)

8

c)

6

d)

5

9.

The power to determine the rate of tax on goods and services has been delegated to....

a)

GST Council

b)

Indirect Tax Department

c)

Finance Ministry

d)

Commissioner of GST

10.

'Cascading Tax Effect' means....

a)

Tax in Tax

b)

Tax on Tax

c)

Tax of Tax

d)

Tax by Tax

11.

At present alcohol for human consumption has not been kept outside the preview of GST in India.

a)

True

b)

False

12.

.....is a tax that levied by the government to raise funds for a specific purpose

a)

Surcharge

b)

Cess

c)

GST

d)

Income Tax

13.

Tax which is not subsumed in to GST

a)

Central Excise Duty.

b)

Service Tax.

c)

Purchase Tax.

d)

Stamp Duty.

14.

IGST is collected by....

a)

Central Government

b)

State Government

c)

Union Territory Government

d)

Central and State Government

15.

For Inter-State Supply..... is applicable.

a)

SGST

b)

CGST

c)

UTGST

d)

IGST

16.

Import from other countries is subject to....

a)

SGST

b)

CGST

c)

IGST

d)

UTGST

17.

Which among the following is the standard rates that have been finalized by the GST Council ?

a)

12% & 18%

b)

0% & 5%

c)

18% & 28%

d)

5% & 12%

18.

The composition tax for hotels shall be....

a)

2%

b)

3%

c)

2.5%

d)

5%

19.

Sin Tax is taxed at a rate of.....

a)

5%

b)

18%

c)

28%

d)

12%

20.

The receiver becomes liable to pay tax to the government, it is called...

a)

Direct Charge.

b)

Indirect charge.

c)

Reverse Charge

d)

Reverse Charge or Indirect Charge

21.

.....means a supply made by a taxable person to a recipient consisting of two or more taxable supplies of goods or services or both, or any combination thereof, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, one of which is a principal supply.

a)

Composite Supply

b)

Mixed Supply.

c)

Normal Supply.

d)

Direct Supply

22.

......refers to the receipt of goods and / or services, whether by purchase, acquisition, or any other means, and with or without any consideration.

a)

Zero rated Supply.

b)

Exempted Supply.

c)

Inward Supply.

d)

Outward Supply.

23.

..... is a non-profit, non-government organization which manage the entire IT system of the GST portal.

a)

GSTN

b)

GSTIN

c)

GSTAIN

d)

GSTBN

24.

It is a 15-digit alpha numeric ID based on a taxpayers Permanent Account Number

a)

GSTN

b)

GSTIN

c)

GSTAIN

d)

GSTBN

25.

Code used to classified goods under GST is...

a)

HSSN

b)

SAAC

c)

HSN

d)

SAC

26.

One-half of the total number of Members of the Goods and Services Tax Council shall constitute the quorum at its meetings.

a)

True

b)

False