Components of Goods and Services Tax

Q.

In India, GST became effective from ______.

Q. What is the trade between two different states called?

1. Intrastate trade
2. National trade
3. State trade
4. Interstate trade

Q. How many GST tax slabs are followed?

1. One
2. Three
3. Five
4. Four

Q. Which of the following is not a type of goods and services tax?

1. Union Territory Goods and Services Tax
2. District Goods and Service Tax
3. Integrated Goods and Services Tax
4. Central Goods and Services Tax

Q. Under which tax slab of GST would a washing machine fall?

1. 0%
2. 5%
3. 10%
4. 28%

Q. Identify the items that are exempted from GST.

1. Rice
2. Cereals
3. Pulses
4. Movie tickets
5. Petrol
6. Medicines
7. Natural gas
8. Lunch buffet

Q. Match the following.

i) Milk, cereal, and eggs	a) 28% GST
ii) Petrol, electricity, and liquor	b) Not in GST
iii) Luxury items	c) 0% GST

1. i-a, ii-b, iii-c
2. i-b, ii-a, iii-c
3. i-c, ii-a, iii-b
4. i-c, ii-b, iii-a

Q. Suppose you run a textile company in Chennai, Tamil Nadu. You buy raw materials worth ₹50, 000 from Salem, Tamil Nadu. After processing, you export the final products worth ₹ 1, 00, 000 to Mumbai. Analyse the goods and services tax that would be paid.

1. CGST on ₹50, 000
2. SGST on ₹50, 000
3. SGST on ₹1, 00, 000
4. IGST on ₹1, 00, 000

Q. Identify the goods on which the government charges 0% indirect taxes.

1. Processed foods
2. Cereal
3. Milk
4. Computers

Q. Imagine you are making an intrastate trade on school bags with a GST of 18%. How is it divided between the central and the state governments?

1. 0% CGST and 18% SGST
2. 18% CGST and 0% SGST
3. 9% CGST and 9% SGST
4. 18% CGST and 18% SGST