MCQs on GST

Goods and Services Tax or GST is one of the important topics in Accountancy. It gives an insight about tax that is implemented to the price of goods and services. The company includes GST to the cost of goods, and a buyer who purchases the goods pays the cost price with the GST.

Given below are important MCQs on GST to analyse your understanding of the topic. The answers are also given for your reference.

Goods and Services Tax MCQs:

1. What is the full form of GST?

A) Goods and Supply Tax

B) Goods and Services Tax

C) General Sales Tax

D) Government Sales Tax

Answer: B

2. GST was implemented in India from

A) 1st January 2017

B) 1st April 2017

C) 1st March 2017

D) 1st July 2017

Answer: D

3. In India, the GST is based on the dual model GST adopted in:

A) UK

B) Canada

C) USA

D) Japan

Answer: B

4. GST is a consumption of goods and service tax based on

A) Development

B) Dividend

C) Destiny

D) Destination

Answer: D

5. The number of structures in India’s GST model is?

A) 6

B) 4

C) 3

D) 5

Answer: B

6. The maximum rate for CGST is?

A) 28

B) 12

C) 18

D) 20

Answer: D

7. The maximum rate applicable for SGST/UTGST is?

A) 28

B) 14

C) 20

D) 30

Answer: C

8. GST rates applicable on goods and services are:

A) 0% 5% 12% 18% 26%

B) 0% 6% 12% 18% 28%

C) 0% 5% 12% 18% 28%

D) 0% 5% 12% 16% 28%

Answer: C

9. Taxes that are levied on any Intra-State purchase are?

A. IGST

B. CGST and SGST

C. SGST

D. SGST

Answer : B

10. What does “I” in IGST stands stand for?

A) Internal

B) Integrated

C) Internal

D) Intra

Answer: B

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