Naren Quiz 6 Dr.K.Karthikeyan
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GSTN (Goods and Service Tax Network) is the special purpose vehicle launched by India to cater to the needs of GST. Currently, only two countries (Canada and India) have adopted the dual GST model. France was the first country to implement GST in 1954. Around 160 countries have adopted GST so far. India has the maximum number of GST tax slabs with 4 rates (5%, 12%, 18%, 28%). The Indian GST model has 3 types of taxes - Central GST, State GST, and Integrated GST. The maximum rate prescribed under IGST is 28%.
Naren Quiz 6 Dr.K.Karthikeyan
- 1. 1 Naren Quiz ¨C Series 6 Dr.K.Karthikeyan Associate Professor of Commerce Dean and Controller of Examinations Vivekananda College Tiruvedakam West ¨C 625 234 Mobile: +91-9865074994 Email: karthikeyan.madurai@gmail.com
- 2. BACK ANSWER 1) What is the special purpose vehicle launched by India to cater the needs of GST? a) GSTC b) GSTN b) GSTM d) GSTR
- 3. BACK NEXT b) GSTN (Goods and Service Tax Network)
- 4. BACK ANSWER 2) At Present, how many countries have adopted Dual GST model? a) 5 b) 8 c) 10 d) 2
- 5. BACK NEXT d) 2 (Canada and India)
- 6. BACK ANSWER 3) Which one of the following countries was the first one to implement GST? a) USA b) France c) China d) Switzerland
- 7. BACK NEXT b) France (1954)
- 8. BACK ANSWER 4) Around how many countries have adopted GST? a) 90 b) 120 c) 140 d) 160
- 10. BACK ANSWER 5) Which of the following countries has the maximum GST tax slab? a) India b) China c) USA d) Australia
- 12. ANSWER 6) Indian GST model has _________rate structure. a) 3 b) 4 c) 5 d) 6
- 13. BACK NEXT b) 4 (5, 12, 18, 28)
- 14. ANSWER 7) How many types of taxes are in Indian GST? a) 2 b) 3 c) 4 d) 5
- 15. BACK NEXT b) 3 (Central GST (CGST), State GST (SGST) and IGST)
- 16. BACK ANSWER 8) The maximum rate prescribed under IGST is _________. a) 5% b) 12% c) 18% d) 28%
- 17. BACK NEXT d) 28%
- 18. ANSWER 9) In India, GST was first proposed in the year _________. a) 1993 b) 1996 c) 1999 d) 2000
- 20. ANSWER 10) GST is a _________ based tax on consumption of goods and services. a) Duration b) Destination c) Dividend d) Development
- 22. ANSWER 11) GST comes under which amendment bill? a) 118 b) 120 c) 122 d) 115
- 23. BACK NEXT c) 122
- 24. ANSWER 12) GST Council was formed based on Article _______of Indian Constitution. a) 279A b) 289A c) 266A d) 255A
- 26. ANSWER 13) The headquarters of GST Council is in _________. a) Mumbai b) New Delhi c) Ahmadabad d) Hyderabad
- 27. BACK NEXT b) New Delhi
- 28. ANSWER 14) Who is the Chairman of GST Finance Ministers Panel? a) Amit Mitra b) Amit Malhodra c) Amit Chandresekar d) Amit Sastri
- 29. BACK NEXT a) Dr.Amit Mitra (West Bengal Finance Minister)
- 30. ANSWER 15) Which State was the first State to ratify GST bill? a) Andhra Pradesh b) Assam c) Arunachal Pradesh d) Bihar
- 32. ANSWER 16) Which State was the first State that passed GST Bill? a) Andhra Pradesh b) Gujarat c) Uttar Pradesh d) Telangana
- 34. ANSWER 17) What is the GST threshold limit for sale of goods in the case of North Eastern States w.e.f. 1.4.2019? a) Rs. 20 lakhs b) Rs.10 lakhs c) Rs. 12 lakhs d) Rs.15 lakhs
- 35. BACK NEXT a) Rs.20 lakhs
- 36. ANSWER 18)What is the GST threshold limit for sale of goods in the case of Normal Category States w.e.f. 1.4.2019? a) Rs. 30 lakhs b) Rs. 15 lakhs c) Rs. 20 lakhs d) Rs. 40 lakhs
- 37. BACK NEXT d) Rs. 40 lakhs
- 38. ANSWER 19) What is the rate of GST for Smart Phones? a) 28% b) 5% c) 12% d) 18%
- 39. BACK NEXT d) 18%
- 40. ANSWER 20)What is the rate of GST for General Insurance Policies? a) 28% b) 5% c) 12% d) 18%
- 41. BACK NEXT d) 18%
- 42. THANK YOU