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GST_Overview and Basic Concepts

Total questions: 64

Worksheet time: 32mins

Name
Class
Date
1.

When was GST implemented in India?

a)

1st April 2016

b)

1st July 2017

c)

1st January 2018

d)

8th July 2017

2.

Which tax was replaced by GST?

a)

VAT

b)

Excise Duty

c)

Service Tax

d)

All of the above

3.

What does GST stand for?

a)

Goods and Sales Tax

b)

Government Service Tax

c)

Goods and Services Tax

d)

General Sales Tax

4.

Which of the following is NOT a component of GST?

a)

CGST

b)

SGST

c)

IGST

d)

CST

5.

What is the primary purpose of GST?

a)

Increase tax rates

b)

Reduce tax burden on businesses

c)

Increase complexity in tax compliance

d)

Promote black money

6.

GST is an example of which type of tax?

a)

Direct Tax

b)

Indirect Tax

c)

Wealth Tax

d)

Income Tax

7.

Which tax is levied by the Central Government on intra-state sales?

a)

SGST

b)

IGST

c)

CGST

d)

UTGST

8.

What is Input Tax Credit (ITC)

a)

Credit received for paying direct taxes

b)

Credit available on exports only

c)

Credit for taxes paid on inputs to reduce tax liability

d)

Credit available only for manufacturers

9.

Which of the following states was the last to implement GST?

a)

Maharashtra

b)

West Bengal

c)

Jammu & Kashmir

d)

Tamil Nadu

10.

Which of the following is an indirect tax?

a)

Income Tax

b)

Capital Gains Tax

c)

GST

d)

Corporate Tax

11.

What was the main drawback of VAT before GST?

a)

Single tax system

b)

Cascading effect

c)

Reduced tax burden

d)

Simpler compliance

12.

What does IGST stand for?

a)

Integrated Goods and Services Tax

b)

Indian Goods and Sales Tax

c)

Internal Goods and Services Tax

d)

Inclusive Goods and Sales Tax

13.

Which component of GST applies to transactions within the same state?

a)

IGST

b)

CGST & SGST

c)

CST

d)

VAT

14.

Who is responsible for collecting IGST?

a)

State Government

b)

Central Government

c)

Both State and Central Governments

d)

Local Authorities

15.

What is the primary objective of GST?

a)

Increase direct tax collection

b)

Eliminate multiple indirect taxes and simplify taxation

c)

Reduce the number of taxpayers

d)

Increase VAT rates

16.

Under GST, which tax is applicable for inter-state transactions?

a)

CGST

b)

SGST

c)

IGST

d)

UTGST

17.

What percentage of GDP does the service sector contribute in India?

a)

18%

b)

29%

c)

53%

d)

40%

18.

What does ITC stand for in GST?

a)

Input Tax Credit

b)

Indian Tax Corporation

c)

Indirect Tax Calculation

d)

Interstate Tax Compliance

19.

Which indirect tax was NOT subsumed under GST?

a)

VAT

b)

Excise Duty

c)

Customs Duty

d)

Service Tax

20.

What is the main benefit of eliminating the cascading effect under GST?

a)

Reduces tax evasion

b)

Prevents double taxation and reduces the final price

c)

Makes tax filing complex

d)

Increases the number of indirect taxes

21.

GST is a ______ tax system

a)

Direct

b)

Multiple

c)

Single

d)

State-only

22.

Under GST, what happens to the tax paid on purchases?

a)

It is refunded completely

b)

It can be claimed as Input Tax Credit

c)

It is added to profit

d)

It cannot be recovered

23.

How many tax slabs are there under GST?

a)

2

b)

3

c)

4

d)

5

24.

What is the due date for filing GSTR-1 for a regular taxpayer?

a)

10th of the next month

b)

15th of the next month

c)

20th of the next month

d)

30th of the next month

25.

The form used to file annual GST returns is

a)

GSTR-1

b)

GSTR-2

c)

GSTR-9

d)

GSTR-3B

26.

Which Constitutional Amendment introduced GST in India?

a)

100th

b)

101st

c)

102nd

d)

103rd

27.

Article 246A of the Constitution deals with

a)

Levy and collection of IGST

b)

GST Council formation

c)

Special provisions for GST

d)

Distribution of IGST revenue

28.

Article 269A of the Constitution deals with

a)

GST Council formation

b)

Levy and collection of IGST

c)

Special provisions for GST

d)

GST rates

29.

Article 279A of the Constitution deals with

a)

Levy and collection of IGST

b)

GST Council formation

c)

Special provisions for GST

d)

Distribution of IGST revenue

30.

Which body recommends GST rates in India?

a)

Finance Ministry

b)

RBI

c)

GST Council

d)

NITI Aayog

31.

Who is the chairperson of the GST Council?

a)

Prime Minister

b)

President

c)

Union Finance Minister

d)

RBI Governor

32.

The GST Council consists of

a)

Union Finance Minister and State Finance Ministers

b)

Union Finance Minister, State Finance Ministers, and RBI Governor

c)

Union Finance Minister and Prime Minister

d)

Union Finance Minister and President

33.

Inter-state transactions are subject to

a)

CGST

b)

SGST

c)

IGST

d)

Both CGST and SGST

34.

Intra-state transactions are subject to

a)

IGST

b)

CGST and SGST

c)

Only CGST

d)

Only SGST

35.

Essential items like food grains fall under which GST slab?

a)

5%

b)

12%

c)

18%

d)

0%

36.

Luxury goods are taxed at which GST slab?

a)

12%

b)

18%

c)

28%

d)

5%

37.

Gold and jewelry attract what percentage of GST?

a)

1%

b)

3%

c)

5%

d)

12%

38.

Affordable housing attracts what percentage of GST?

a)

  • 1%

b)

    • 3%

c)

5%

d)

12%

39.

Packaged food items are generally taxed at:

a)

0%

b)

5%

c)

12%

d)

18%

40.

Most goods and services are taxed at:

a)

12%

b)

18%

c)

28%

d)

5%

41.

Which of the following is an exempted item under GST?

a)

Packaged food

b)

Milk

c)

Mobile phones

d)

Luxury cars

42.

Which of the following falls under the 28% GST slab?

a)

Processed food

b)

Air conditioners

c)

Luxury cars

d)

Branded clothes

43.

Restaurant services (non-AC) are taxed at

a)

5%

b)

12%

c)

18%

d)

28%

44.

Air travel with a meal included is an example of:

a)

Mixed supply

b)

Composite supply

c)

Exempt supply

d)

Zero-rated supply

45.

The Composition Scheme is designed for

a)

Large businesses

b)

Small businesses

c)

Multinational corporations

d)

Government entities

46.

The maximum annual turnover for the Composition Scheme (for goods) is

a)

₹50 lakh

b)

₹75 lakh

c)

₹1 crore

d)

₹1.5 crore

47.

Restaurants under the Composition Scheme pay what percentage of tax?

a)

  • 1%

b)

  • 5%

c)

  • 6%

d)

  • 18%

48.

Manufacturers and traders under the Composition Scheme pay what percentage of tax?

a)

  • 1%

b)

5%

c)

6%

d)

18%

49.

Service providers under the Composition Scheme pay what percentage of tax?

a)

1%

b)

5%

c)

6%

d)

18%

50.

Businesses under the Composition Scheme cannot:

a)

Claim Input Tax Credit (ITC)

b)

Sell within the state

c)

File quarterly returns

d)

Maintain detailed records

51.

Businesses involved in inter-state sales

a)

Can opt for the Composition Scheme

b)

Cannot opt for the Composition Scheme

c)

Pay a higher rate under the Composition Scheme

d)

Are exempt from GST

52.

Businesses under the Composition Scheme file returns

a)

Monthly

b)

Quarterly

c)

Annually

d)

Bi-annually

53.

The Composition Scheme is beneficial for businesses with

a)

High compliance burdens

b)

Low compliance burdens

c)

High tax liabilities

d)

Large export volumes

54.

For a company registered in Mumbai, selling from its Odisha branch to a buyer in Tamil Nadu, which GSTIN should be used in the e-invoice?

a)

Mumbai GSTIN

b)

Tamil Nadu GSTIN

c)

Odisha GSTIN

d)

Any GSTIN

55.

E-invoice is mandatory if the turnover exceeds

a)

₹1 crore

b)

₹2 crore

c)

₹5 crore

d)

₹10 crore

56.

E-way bill is required if the goods value exceeds:

a)

₹25,000

b)

₹50,000

c)

₹1 lakh

d)

₹2 lakh

57.

E-invoice is reported on the

a)

GST portal

b)

IRP (Invoice Registration Portal)

c)

E-way bill portal

d)

  • Income Tax portal

58.

E-way bill is required for

a)

Intra-state movement of goods

b)

Inter-state movement of goods

c)

Both intra-state and inter-state movement of goods

d)

Only services

59.

Which document is mandatory for B2B transactions?

a)

Delivery challan

b)

Tax invoice

c)

E-way bill

d)

Credit note

60.

The Invoice Reference Number (IRN) is generated from

a)

  • GST portal

b)

IRP (Invoice Registration Portal)

c)

E-way bill portal

d)

Income Tax portal

61.

For a company in Mumbai with a branch in Odisha selling to Tamil Nadu, the Place of Supply (POS) is

a)

Mumbai

b)

Odisha

c)

Tamil Nadu

d)

Any State

62.

If goods are moved without an immediate sale, which document is required?

a)

Tax invoice

b)

Delivery challan

c)

E-way bill

d)

Credit note

63.

The GSTIN to be used in an invoice is based on

a)

  • Buyer's location

b)

Seller's registered office

c)

Place of supply and location of supplier

d)

Buyer's registered office

64.

In an inter-state supply, the supplier's GSTIN used in the invoice is from

a)

  • Buyer's state

b)

Seller's registered office state

c)

State where the supply originates

d)

Any state